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Final Closing of Potentia Capital Fund I

Written by: Asante Capital | Date: 04 January 2021

Potentia Capital (‘Potentia’) is pleased to announce the final close of Potentia Capital Fund I (the ‘Fund’) on A$382 million of total capital commitments.

Despite this being a first-time fund raised through a challenging COVID-19 environment, the Fund enjoyed strong support from a diverse group of global and local institutional investors, resulting in an oversubscribed fundraise and a final close at the hard-cap, well above the A$300 million initial fund target. The Potentia Capital Fund I LP base is well-diversified across both investor types and geography, and includes asset managers, fund-of-funds, insurance companies, superannuation funds and family offices hailing from Asia Pacific, North America and Europe.  

Building on the Potentia team’s reputation as a leading investor and owner of software businesses, Potentia established the Fund to continue its proven strategy of making buyout investments in mid-market technology and tech-enabled businesses headquartered in Australia/New Zealand, with corridors of growth into Asia. As the only software and tech specialist in the region, Potentia blends its unique brand of management partnership and deep operational involvement to drive growth and position portfolio companies for sustained competitive advantage.

Asante Capital acted as exclusive global fundraising adviser, while Herbert Smith Freehills acted as Potentia Capital Fund I’s legal advisers.

About Potentia Capital

Headquartered in Sydney, Potentia is an ANZ specialist private equity investor focussed on software, technology and tech-enabled businesses in the ANZ mid-market. The firm is led by Andrew Gray and Tim Reed. The investment team collectively bring over 100 years of collective experience as investors and entrepreneurs in the technology space.