Invictus Growth Partners has closed its oversubscribed debut fund, Invictus Growth Fund I, LP, with fund commitments totaling $322m to its core fund and related co-investment funds.
The funds include an oversubscribed Fund I at $216 million, which closed above the fundraising target of $200 million, as well as $106 million in related co-invested capital subscribed by the institutional limited partners (LP) as part of Invictus’ programmatic co-investment program.
The institutional LP base includes state pension funds, corporate pension funds, insurance companies, funds of funds, and family offices.
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Invictus acquires and invests in bootstrapped and capital-efficient enterprise cloud software, cybersecurity, and fintech companies. The firm employs a proprietary machine learning platform, Deal Intelligence Assessment Neural Engine (Diane), to source investments and then improve their operations.
Invictus is a majority minority-owned firm and was co-founded by John DeLoche and William Nettles, who have a 27-year history of working together, dating back to starting their careers at CS First Boston in 1995.
Invictus has completed seven platform investments in its focus areas of cloud software, cybersecurity, and fintech, with five of the seven completed investments sourced by Diane.
Source: Private Equity Wire
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