San Mateo, California, USA, May 20th, 2025, FinanceWire
● Second flagship fund closed above the original hard cap with strong support from existing investors and new investors comprising more than two-thirds of capital
● 83% of completed investments have been sourced with in-house developed AI platform, DIANE
● Invictus empowers previously bootstrapped cloud software, cybersecurity, and fintech companies with dedicated operating and data science resources
Invictus Growth Partners (“Invictus”), a leading private equity firm focused on growth buyouts of lower middle-market enterprise software businesses in the cloud software, cybersecurity, and fintech sectors, announced the final closing of Invictus Growth Fund II, L.P. (“Fund II”), with total capital commitments of $574 million in its core fund and related co-investment funds. Fund II was oversubscribed at $488 million in fund commitments, surpassing both its target of $350 million and the original hard cap of $450 million.
“We are honored and grateful for the support from our returning and new investors, which include pension plans, endowments, foundations, insurance companies, healthcare institutions, and family offices,” said John DeLoche, Invictus Co-founder and Managing Partner. “The early support and leadership from our existing investors helped to drive investor demand and facilitate a successful fundraise despite a challenging environment.”
“We will continue our strategy of bringing a partnership approach and deep operating expertise and resources to our portfolio companies to help them scale,” said William Nettles, Invictus Co-founder and Managing Partner. “This includes our world class team’s stewardship, machine learning-powered GTM operational enhancements through our DIANE platform, and the support of a dedicated portfolio company success team, the Invictus Guild.”
Invictus’ Fund II received strong support from existing investors, and new investors made up more than two thirds of total committed capital, broadening the diversification of the firm’s world class institutional limited partner base.
Invictus has completed twelve platform investments and add-on acquisitions in its focus areas of enterprise cloud software, cybersecurity, and fintech. The firm targets companies with at least $10 million of annual recurring revenue that have been bootstrapped or have annual recurring revenue greater than equity capital raised. Invictus targets companies with strong product market fit that are profitable or nearly profitable at the time of investment.
Ten of the twelve completed investments were sourced with DIANE, Invictus’ proprietary machine learning-powered outbound sales engine for B2B use cases. DIANE is an acronym for Deal Intelligence Assessment Neural Engine, and was built in-house at Invictus starting in 2019. Invictus is now on its third generation of machine learning for operational enhancements powered by DIANE. The first generation focused on in-house investment sourcing. The second and third generations focus on GTM operational enhancements which are exclusively available to Invictus portfolio companies. Portfolio companies have seen a 90% increase in direct sales efficiency leveraging the platform, which also provides access to thousands of potential new enterprise customers.
Portfolio companies also benefit from access to the Invictus Guild, a team of operating executives who have experience working at some of the most successful technology companies. Invictus Guild Members operate across ten disciplines that are crucial for scaling technology companies, including sales, marketing, customer success, business development, corporate development, data science, human resources, product development, finance, and CEO coaches. They serve as mentors, operational advisors, and sources of best practices and talent for Invictus portfolio companies. They also invest personally in every portfolio company.
Zaid Abdul-Aleem, Invictus Partner and Head of Partner and Capital Solutions, led the Fund II fundraise while Cooley served as Legal Advisor.
Users can learn more at invictusgrowth.com.
About Invictus Growth Partners
Invictus Growth Partners is a buyout and growth equity firm that invests in outstanding, bootstrapped, capital-efficient, automation-enabled cloud software, cybersecurity, and fintech companies. The firm is dedicated to supporting companies seeking capital and strategic resources to accelerate their growth.
Contact
Partner and Head of Operations
Heather Brien
Invictus Growth Partners
PR@invictusgrowth.com
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