Search
Close this search box.

NEWS

Tenzing closes its third fund at £900m, oversubscribed at its hard cap

Read time 2 minutes

London, 1 July 2024 – Tenzing is delighted to announce the close of its third fund (Tenzing III), with total commitments in excess of £900m1. Tenzing III is more than double the size of its predecessor and closed at its hard cap, with excess demand.

This fundraise enables Tenzing to continue backing ambitious Founders and management teams across Europe who share its vision of building high growth, tech and tech-enabled businesses into independent powerhouses.

The Tenzing III portfolio already includes two, high growth software platforms, after Tenzing partnered with Totara and Webexpenses at the end of last year.

Tenzing’s Founders have always focused on building a team that they would want to invest alongside, and one that bears out the Firm’s core values. Today, that team is one of the largest in the market relative to AuM, with over 50 people across London, Munich and Stockholm.

Tenzing continues to innovate to provide its portfolio companies with hands-on, operational support to turbo-charge growth, including the unique Sherpa Programme and dedicated Acquisitions Directors.

Today’s news follows the recent announcement of Tenzing’s B Corp Certification and recognition in The Sunday Times ‘Best Places to Work 2024’.

Guy Gillon, CEO and Co-Founding Partner at Tenzing, said: “We’re delighted to have closed Tenzing III at its hard cap and for our investors’ continued belief in what we are building. This raise gives us €1bn of firepower to invest in B2B tech and tech-enabled champions across Europe, where we now have teams on the ground in Germany and the Nordics. We’re so proud of how far we’ve come in the last nine years – none of this would be possible without the dedication and passion of the people we work with.”

Tenzing was supported by Proskauer Rose (UK) LLP (legal advisor) and Asante Capital Group (global fundraising advisor).

Note: (1) Tenzing III has total commitments of £909m.

ABOUT THE AUTHOR

Picture of Liv Simpson

Liv Simpson

Liv looks after Tenzing’s own investors, keeping them informed on progress. She runs our fundraising events and AGM.
Send us an email:
Give us a ring:
Locations:
London (HQ)

Heddon House,
149-151 Regent Street,
London, W1B 4JD 

Stockholm

C/o Convendum (7th Floor),
Birger Jarlsgatan 57,
113 56 Stockholm

Munich

Mindspace (1st Floor)
Salvatorplatz 3
80333 München