ABS Capital drives iZotope expansion with $12m investment


iZotopeLater-stage growth investor ABS Capital Partners has poured $12m into audio technology company iZotope and added general partner Laura Witt to the company’s board of directors.

The Massachusetts, US-headquartered company makes professional audio products for the music, entertainment and education industries including creations for mixing, audio repair and mastering.

Witt said, “iZotope already has an incredible brand and is well-recognized for its leading audio technology.

“It’s a unique opportunity to work with a strong, entrepreneurial business to help them broaden their market presence.

“This new funding means they can reach more customers and markets, and professional and amateur musicians and engineers alike will benefit.”

ABS closed its seventh fund on its $500m hard cap in November 2011 after just six months on the road.

The fund easily beat its $400m target and outstripped the $420m ABS had collected for its sixth vehicle in 2009.

LPs in ABS VII consist largely of long-time investors in previous funds, including fund of funds, pension funds, endowments, foundations, and family offices.

They include Abbott Capital, Johns Hopkins University and WP Global Partners as well as new investors to the fund such as Top Tier Capital Partners and The Wellcome Trust.

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