European software-focused private equity investor Hg has bought into legaltech business The Septeo Group.
The company supports notaries, law firms, corporate legal departments and real estate property managers in France, Belgium, Canada and the US.
Founded in 1988, Septeo now has over 12,000 clients and more than 120,000 users, served by over 1,400 employees.
Hg said the deal was its 11th investment in legal and regulatory compliance tech, representing more than €1.5bn.
A statement from Hg partners Jean-Baptiste Brian, Sebastien Briens and Joris Van Gool said, “Hg invests in businesses that demonstrate compelling long-term growth potential, built around strong technology foundations and talented teams.
“Septeo is an exceptionally high-quality provider of software serving the LegalTech space and there is an exciting opportunity to further scale what is already a great platform, to help drive digitalisation across the legal system and beyond.”
Last month Hg sealed more than $11bn of new capital through a stunning triple fundraise which saw all three vehicles hit their hard caps.
The firm hauled in $4.85bn for its second Saturn fund, three times as much as the £1.5bn it collected for its debut fund in the series two years ago.
It also picked up €4.4bn for its Genesis 9 fund and €1.3bn for its Mercury 3 vehicle.
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