Investcorp’s portfolio company Ageras raises $73mln in new capital

The new investment will accelerate Ageras’ expansion into existing growth markets

  
Bahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020.

Bahraini traders are pictured in Bahrain Bourse in Manama, Bahrain, November 5, 2020.

REUTERS/Hamad I Mohammed
Mubasher: Leading European technology investor, Investcorp Technology Partners, said its portfolio company, Ageras Group, has raised $73 million from Lugard Road Capital, the US-based alternative asset manager.

The new investment will accelerate Ageras’ expansion into existing growth markets, creating potential for both inorganic and organic growth opportunities, according to a press release on Tuesday.

The Copenhagen-headquartered Ageras Group is a leading provider of recurring revenue-driven accountancy software, solutions, and services to both small and medium enterprises (SMEs) and accountancy firms, and operates in six markets; Denmark, the US, Sweden, Norway, Holland, and Germany.

Investcorp Technology Partners is a subsidiary of Bahrain's Investcorp.

Managing Director and Head of Investcorp’s Private Equity Technology business, Gilbert Kamieniecky, said, “The additional financing secured by Ageras will help to drive international expansion and support the continued innovation of its customer offering.”

Meanwhile, CEO of Ageras, Rico Andersen, added, “This latest financing round will support our ongoing commitment to scaling the Ageras brand and bringing our software offering to new customers across the globe.”

Investcorp Technology Partners’ most recent investments include Avira, a multinational cybersecurity software solutions firm, which recently entered into a definitive agreement to be sold to NortonLifeLock for about $360 million.

Source: Mubasher

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