Bahrain’s alternative asset manager Investcorp has announced the closing of its Investcorp Technology Partners (ITP V) fund at $570 million. 

The fund exceeded its target of $500 million, with commitments from new and existing limited partners (LPs) in Europe, North America, Asia and the GCC. 

ITP V will invest in software, data analytics, cybersecurity and fintech globally by taking controlling stakes of companies of $10 million or more that require investments of between $30-75 million, a statement said. 

Investments undertaken already are German HR software company VEDA, Italian cybersecurity platform HWG Sababa as well as US-based Zift Solutions and Netherlands-based NetRom.

(Writing by Imogen Lillywhite; editing by Seban Scaria)