Main Capital raised the Netherlands’ biggest-ever fund on boring software
While public markets panic that AI will gut enterprise software, a quiet Dutch firm just raised €5.25bn on the opposite bet. Main Capital’s pitch: boring, essential software is exactly where the next decade of value sits.
Charly Zwemstra has spent 23 years buying software that almost nobody finds exciting. Think hospital appointment systems, municipal tax records, accounting workflows. The kind of software an organisation never thinks about until it breaks. This week, investors handed his firm €5.25bn to keep doing exactly that.
Main Capital Partners, the Hague-based enterprise software investor, closed two new funds at their hard caps in under six months. Main Capital IX reached €4bn, more than double its predecessor. Main Foundation III reached €1.25bn, also more than double the fund before it. Both were oversubscribed.
Together they push Main’s assets under management past €12bn, and the firm says the raise is the largest private equity buyout fundraise...
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