We’ve supported longstanding client, Advent International, with the fundraising activities and final close of its second dedicated technology fund, Advent Global Technology II (“Advent Tech II”).
The fund exceeded its $3 billion target by 33% and reached its $4 billion hard cap after just six months in the market, with commitments from a diverse group of institutional investors around the world. More than 90% of the committed capital came from Advent International’s existing investor base, with the remaining commitments provided by a select number of new investors. Advent Tech II is double the size of its predecessor, Advent Tech.
Advent International is one of the largest and most experienced global private equity investors. Since its founding in 1984, Advent has invested $64 billion in over 390 private equity investments across 41 countries.
Aztec Group supported with the investors’ onboarding of Advent Tech II and will continue to provide ongoing administration and accounting services from our Luxembourg office.
Waqas Khan, Associate Director, said: “Congratulations to Advent International’s team on the successful close of Advent Tech II. The fund’s clear appeal to both new and existing investors speaks volumes for their reputation and excellent track record as one of the leading private equity firms in the world. It’s also testament to their strategy; working with the most promising innovators of today, to build them into the market leaders of tomorrow.
“We’re proud to have supported Advent International with this latest fund and look forward to further strengthening our partnership.”