BV Investment Partners (BV), a private equity firm focused on the tech-enabled business services and solutions sectors, announced today that it has completed fundraising for BVIP Fund XII at its hard cap of $2.465 billion, exceeding its initial target of $2.0 billion.
The Fund achieved its first and final close yesterday following its launch in the Fall of 2025. The rapid capital raise and strong re-up rate from existing investors showcase BV’s long-standing disciplined and focused strategy. Consistent with its predecessor funds, Fund XII will continue BV’s established practice of investing alongside founders, management, and families to implement technology and operational improvements to accelerate the growth of portfolio businesses. Over the last few years, the firm has identified and executed on many transformative platform investments and distributed substantial portfolio realizations. BV’s previous Fund XI, a 2022 vintage fund, met its hard cap of $1.75 billion, exceeding its target of $1.5 billion and is fully committed.
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The BV team is led by 10 Partners, including recently promoted Sam Axelrod. Sam joined the firm in 2019 as a Senior Associate and contributed meaningfully to some of the Firm’s most successful recent exits as well as leading investments in the Firm’s MSP strategy.
Vikrant Raina, Chief Executive Officer of BV, said, “We are grateful to our existing and new investors for their support. We also want to thank the portfolio company stakeholders who have collaborated extensively with us in driving many portfolio realizations over the last two years, paving the way for this fundraise. As we look ahead, we see tremendous opportunities to leverage new technologies to build impactful business solutions companies. We have an active pipeline and look forward to announcing the Fund’s first investments shortly.”
Fund XII’s investor base includes a diverse group of global sovereign wealth funds, foundations, public and corporate pension plans, financial institutions, and family offices. In addition to expanding its geographic reach with high-profile limited partners from East Asia and Latin America, the firm added key new cornerstone investors from Europe and North America. This support complements the continued participation from BV’s long-standing investor base. Additionally, the General Partner is committing approximately 4.7% of the Fund’s total commitments, making it one of the largest investing entities in Fund XII.
Maggie Carter, President and Chief Operating Officer, said, “I believe the successful outcome of the Fund XII capital raise is a testament to the Firm’s consistency in strategy, team and performance. In a market often characterized by product proliferation and strategy drift, we have remained steadfast in our core tenet of operationally focused investing. We are thrilled that our existing investors have chosen to invest with BV again, and we welcome new investors who align with our investment philosophy. We will continue to invest in our team to support the growth in Fund size. Sam Axelrod’s promotion is not only well deserved but key to our portfolio construction plans. Our team is a key differentiator, fully committed to delivering the performance expected of us.”
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