SYNOVA FUND III CLOSES AT £250M HARD CAP
Synova Capital LLP (“Synova”), an award winning investor into UK growth companies, is pleased to announce that it has successfully closed Synova Capital Fund III LP (“Synova III” or the “Fund”) at its hard cap of £250m. In keeping with its 2013 predecessor fund, the Synova III fundraising was completed in less than three months and was significantly oversubscribed, receiving overwhelming support from existing LP’s and attracting new investors from Europe, the US and Asia. Investors committing to the Fund comprise a leading group of LP’s representing endowments, fund of funds, family offices, pension funds and insurance companies.
Synova III will continue the strategy of its predecessor funds, investing between £10m and £30m in UK companies operating in attractive niches with significant opportunities for earnings growth and value creation.
Philip Shapiro and David Menton, Synova’s Managing Partners, commented: “We are delighted to announce the raising of Synova III having deployed our Second Fund into a series of high-quality and exciting growth businesses over the past two years. We are very grateful for the continued support of our investors which reflects the quality of the team at Synova and the strength of our track record.”