SYNOVA FUND IV CLOSES AT £365M HARD CAP
Synova Capital LLP (“Synova”), is delighted to announce that it has successfully held a first and final close of Synova Capital Fund IV LP (“Synova IV” or the “Fund”) at its hard cap of £365m. The Fund will continue the same successful strategy as its predecessor fund, Synova Capital Fund III LP, which closed in 2016 at its £250m hard cap.
In keeping with prior funds, the Synova IV fundraising was completed in less than 12 weeks, and was heavily 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, sovereign wealth funds and insurance companies.
Synova IV will invest between £10m and £60m in companies operating in attractive sector niches with significant opportunities for earnings growth and value creation.
Philip Shapiro and David Menton, Synova’s Co-Founders & Managing Partners, commented: “We are delighted to announce the raising of Synova IV having demonstrated market-leading returns over the past decade from a series of high-quality and exciting growth investments across the UK and Ireland.
We are extremely grateful for the continued support of existing partners, and the conviction shown towards Synova by our new investors, which we believe recognises the quality of the Synova team and the partnerships we build; the strength of our track record; and our unrelenting investment discipline.”