Lexar Partners Closes Oversubscribed Fund II at €164 Million

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Amsterdam, February 18, 2026 – Lexar Partners has announced the successful closing of Lexar Partners Fund II at €164 million, exceeding its target of €120 million and hard cap of €150 million. The oversubscribed fund reflects strong investor confidence in Lexar’s strategy of investing in mission-critical B2B software and IT services businesses, combining AI-enabled value creation with a human-centric approach.

The fund is backed by a diverse group of investors, including entrepreneurs, family offices, fund-of-funds, endowments, and pension funds from Europe and the United States. According to Sander van Woerden, founder and CEO of Lexar Partners, the fund marks a major milestone in the firm’s growth and reflects the support of investors, partners, and the team.

Investor interest has grown amid shifting geopolitical and economic dynamics. Developments in the U.S. economy have led to increased investment focus on Europe, and growing attention to digital autonomy has driven demand for European software alternatives that reduce dependency on U.S. technology, aligning with Lexar’s investment focus.

European software markets remain attractive due to competitive valuations and the abundance of fast-growing companies. There are nearly twice as many high-growth software companies in Europe as in the U.S., where competition and valuations are higher.

Lexar Partners Fund II has already made two investments:

  • Alumio (Groningen), a platform connecting enterprise software systems
  • Munisense (Leiderdorp), providing environmental insights via sensor technology for parameters such as noise and water

The fund targets Dutch-headquartered software and IT service companies with €5–30 million in revenue, positive EBITDA, and strong potential for international growth. Lexar expects to make a total of ten investments from the fund.

Lexar’s previous fund achieved seven investments with annual unrealized returns consistently above 20–30%, with some companies already generating cash distributions exceeding initial capital.

In today’s evolving software landscape, including recent AI-driven market shifts, Lexar emphasizes investment in business-critical software companies that embrace AI to enhance operations rather than disrupt business models.

The firm was advised in the fundraising process by Zuidbroek Ondernemingsrecht Notarissen, Amstone Tax Lawyers B.V., and Acanthus Capital, which supported Lexar in elevating its global profile.


Lexar Partners
Lexar Partners is a Dutch private equity firm specializing in mission-critical B2B software and IT services businesses. The firm invests in high-growth, Dutch-headquartered companies with strong EBITDA, a clear path to international expansion, and a focus on digital autonomy and AI-enabled value creation. Lexar combines deep sector expertise with a hands-on, human-centric approach to drive sustainable growth and long-term value for investors and portfolio companies alike.

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