BV Investment Partners closed its ninth fund, BV Investment Partners Fund IX. The PE firm closed the fund in about three months after launch.
Fund IX is valued at $750 million and exceeded BV's initial target of $600 million. Boston-based BV closed its eighth fund at $487 million in 2014.
"BV’s sectors of focus are in a period of phenomenal growth as information and software transform the global economy," says BV managing director Vikrant Raina.
BV invests at least $25 million in businesses that have up to $20 million in Ebitda. The PE firm focuses on the business services, information technology and software sectors. In 2016, BV sold meeting scheduler ECRM to Snow Phipps.
Evercore Private Funds Group served as placement agent for BV while Ropes & Gray provided legal advice.