Synova V holds first and final close at £875 million hard cap

Synova V holds first and final close at £875 million hard cap

Synova LLP (or ‘the firm’) has announced the first and final close of Synova V (or ‘the fund’) at the hard cap of £875 million, in just three months. The fund will maintain Synova’s focus on partnering with exceptional growth companies within the technology, business services, financial services, and health & education sectors across the UK, Ireland and continental Europe. The success of the latest fundraise follows outstanding performance from Synova’s prior funds which have achieved average realised returns of 6.2x invested capital.

The fund has been deliberately constructed to support companies throughout their growth trajectory. As such, £250 million of the capital, the Chrysalis pool, will be reserved for investments in smaller companies, to continue to capitalise on opportunities in this segment of the market as well as providing a strong source of incremental returns for investors.

Synova V received overwhelming support from existing investors, who increased their commitments by over 50% on average, as well as select new investors in a fundraise that was heavily oversubscribed. The fund will more than double the firm’s deployable capital, following on from Synova IV which was closed in 2019 at £365m, and will take total AUM to £1.7bn.

We are delighted to have supported the Synova team on this fundraise.