Novacap Closes Tech Fund VII at Nearly $3.8 Billion

Novacap has announced the final close of its seventh technology-focused buyout fund, Novacap Technologies Fund VII (“Tech VII”), on February 25, 2026, securing nearly US$3.8 billion in capital commitments, including affiliated vehicles. The fund exceeded its original US$2.75 billion target by more than US$1 billion and was raised in under a year, marking the largest fundraise in the firm’s history and underscoring strong investor confidence despite a challenging fundraising environment.

With the close of Tech VII, Novacap now manages over US$12 billion in assets across four core sector-focused strategies: Technologies, Digital Infrastructure, Financial Services, and Industries. The Technologies strategy, led by President, CEO and Managing Partner Pascal Tremblay, focuses on middle-market North American B2B software and technology-enabled services businesses, with a disciplined approach to value creation and operational improvement.

Tech VII will continue Novacap’s long-standing strategy of partnering with profitable, growing companies seeking a value-added investor to help scale operations and execute transformational initiatives. The firm has built a strong track record of cross-border add-on acquisitions, leveraging deep sector expertise to accelerate growth and position portfolio companies for long-term success.

Investor support for the fund reflects confidence in Novacap’s partner-led sourcing model and full-lifecycle investment approach. The firm has demonstrated sustained investment momentum, highlighted by milestone transactions including the US$1.9 billion privatization of Integral Ad Science by its TMT VI fund and the announced US$1.45 billion sale of Eddyfi Technologies.

To date, Novacap Technologies has completed 29 platform investments and more than 95 add-on acquisitions, alongside 16 full realizations and two partial exits. Since its founding in 1981, Novacap has invested in over 250 companies, combining sector specialization with operational expertise to drive strategic growth and execution excellence across market cycles.

UBS served as exclusive global placement agent for the Tech VII fundraise, with Willkie Farr & Gallagher and Davies Ward Phillips & Vineberg acting as fund counsel.

About Novacap

Founded in 1981, Novacap is a leading North American private equity firm focused on middle-market and lower-middle-market companies. The firm invests across four core sectors — Technologies, Digital Infrastructure, Industries, and Financial Services — and partners with management teams to accelerate value creation through operational excellence, strategic acquisitions, and disciplined execution.

With more than US$12 billion in assets under management, Novacap has completed primary and add-on investments in over 250 companies. The firm is recognized for its sector specialization, hands-on partnership approach, and consistent track record of delivering transformational outcomes across market cycles.