The technology-focused secondaries firm acquired a 99 per cent interest in eMaze when it bought acquired an investment portfolio from Alice Ventures in late 2011.
The company provides IT security consulting and software development and offers outsourced real-time security monitoring services.
Cipio principal Christoph Wedegaertner said, “We spent the last two years focusing the business on its core competency of security consulting and customized software development for blue chip Italian and multinational corporates.
“During this time, we significantly increased profitability and company value, working closely with eMaze’s current CEO Domenico Cavaliere, whom we brought in as chairman in 2011.”
Cipio, which is headquartered in Munich with offices in Luxembourg and California, currently has €300m of assets under management.
In May AltAssets reported that Cipio was targeting up to €230m for its second vehicle.
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