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Synova Capital closes second fund on £110m hard cap

22 Aug 2013

london2_lrgUK lower mid-market firm Synova Capital took less than three months to close its latest fund on its £110m hard cap.

The firm said the fund was significantly oversubscribed and received commitments from both new and existing LPs, which included endowments, fund of funds, family offices, pension funds and insurers based in the UK, Europe and the US.

The new fund is larger than the £100m debut vehicle raised in 2007.

In April this year Synova made a successful start to its debut fund by making a 5.8 times return exiting dbg to Carlyle and Palamon Capital.

Earlier this month the firm acquired haulage and logistics software maker Mandata for an undisclosed amount.

Synova invests in businesses that are valued between £3m and £30m, looking specifically for strong competitive positions, positive earnings with stable cash flows and growth potential.

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