Main Capital Partners, a leading investor in the European enterprise software sector, has announced the successful closure of its latest buyout funds, Main Capital VIII and Main Foundation II, amassing a total of €2.44B in commitments. This achievement nearly doubles the size of the firm’s previous funds, elevating Main’s total Assets under Management to approximately €6B.
Charly Zwemstra, the Founder and Chief Investment Officer at Main, highlighted the firm’s pioneering role in the European Software space, focusing on the acquisition of profitable and resilient enterprise software businesses. “We are very proud of our 20-year track record and the continued support from our highly institutional and global LP base,” Zwemstra stated, underscoring the funds’ role in consolidating the fragmented software market and building leading international software groups.
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Exceptional Investor Confidence and Strategic Growth
The firm experienced a re-up rate of 115% from existing investors, attracting around €1B in new commitments from institutional players such as APG, Tecta Invest, and the Texas County and District Retirement System. Main Capital VIII and Main Foundation II began their fundraising journey in October 2023, with initial targets of €1.6B and €400M, respectively. Despite challenging market conditions, both funds exceeded their goals, reaching their hard caps of €1.9B and €500M in under six months.
Jorn de Ruijter, Head of Investor Relations and Investment Director at Main, expressed gratitude for the strong support from both new and existing LPs. “Closing two funds significantly above target in just six months is a testament to Main’s exceptional track record and close relationship with our LP base,” de Ruijter remarked.
A Strategic Partner for Software Companies
Since its inception in 2003, Main Capital Partners has specialized in buyout investments within the lower-middle market of the enterprise software sector. The firm supports profitable small- to medium-sized businesses with equity investments ranging from €5M to €150M, providing operational support and fostering deep connections within software ecosystems. In 2023 alone, Main was involved in over 40 transactions, including close to 30 exits, boasting a weighted average return over 4x and a loss rate below 0.5%.
With a team of over 70 professionals across Benelux, DACH, Nordics, and the US, Main Capital Partners continues to build exclusive relationships with software founders and entrepreneurs, operating cross-border in approximately 10 product markets such as healthtech, govtech, HRtech, and cybersecurity.
The successful closing of Main Capital VIII and Main Foundation II reinforces Main Capital Partners’ position as a European leader in software buyouts, poised to continue playing a key role in the consolidation of the software market and building international leading European and Cross-Atlantic software groups.
