Likely buyers · Software.

1. Isai Gestion SponsorVery High86

61 platform investments in Software & IT · 30 deals 2024–26

AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M

23 platform investments since the 2025 vintage · largely deployed vs its usual 20 per fund.

Backed ProcurePro, 2026 · Software, Australia

2. TeamSystem PE-backedVery High85

86 acquisitions in Software & IT · 28 deals 2024–26

Added on ACD (ACD Finances), 2026 · Software, France

3. Axcel SponsorVery High84

20 platform investments in Software & IT · 14 deals 2024–26

Axcel VII · 2023 vintage · deploying · check €26-194M

15 platform investments since the 2023 vintage · largely deployed vs its usual 9 per fund.

Backed KapitalKontroll, 2026 · Software, Norway

4. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High84

18 platform investments in Software & IT · 15 deals 2024–26

AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M

4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.

Bought Safety21 from BU Bregal Unternehmerkapital, 2026 · Software, Italy

5. Via Equity SponsorVery High83

27 platform investments in Software & IT · 8 deals 2024–26

AUM €500M · VIA equity Fund V · 2023 vintage · deploying · check €5-38M

9 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.

Backed Robopack Group, 2026 · Software, Denmark

6. bm-t Beteiligungsmanagement Thueringen SponsorVery High83

6 platform investments in Software & IT · 13 deals 2024–26

AUM €465M · Mittelstands-Fonds Thueringen II (MFT II) · 2025 vintage · deploying · check €0-3M

Accelerating: 8 deals in the last 2 years vs 2.5/yr before.

Backed Leapter, 2025 · Software, Germany

7. Meanings Capital Partners SponsorVery High83

9 platform investments in Software & IT · 7 deals 2024–26

AUM €906M · Meanings Private Equity Fund IV (MPEF IV) · 2025 vintage · deploying · check €6-45M

Accelerating: 6 deals in the last 2 years vs 1.8/yr before.

Backed Instant System, 2026 · Software, France

8. Deutsche Beteiligungs AG SponsorVery High81

12 platform investments in Software & IT · 9 deals 2024–26

AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M

9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.

Backed Totalmobile, 2026 · Software, UK

9. Entrepreneur Invest SponsorVery High81

34 platform investments in Software & IT · 11 deals 2024–26

AUM €1.8B · FPCI Entrepreneurs & Croissance N°5 · 2022 vintage · partially deployed · check €3-23M

32 platform investments since the 2022 vintage · largely deployed vs its usual 17 per fund.

Backed Groupe Pandora, 2026 · Software, France

10. Deutsche Beteiligungs SponsorVery High81

13 platform investments in Software & IT · 10 deals 2024–26

AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M

9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.

Backed Totalmobile, 2026 · Software, UK

11. Hg SponsorVery High81

48 platform investments in Software & IT · 22 deals 2024–26

AUM €69.0B · Hg Mercury 4 · 2023 vintage · deploying · check €48-360M

24 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.

Backed Parte, 2025 · Software, Belgium

12. Oakley Capital SponsorVery High81

15 platform investments in Software & IT · 20 deals 2024–26

AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M

10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.

Backed Senef, 2026 · Software, France

13. VækstPartner Kapital SponsorVery High81

15 platform investments in Software & IT · 6 deals 2024–26

VPK Fond III · 2023 vintage · deploying · check €1-8M

9 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.

Backed Subit, 2026 · Software, Denmark

14. Monterro SponsorVery High81

14 platform investments in Software & IT · 4 deals 2024–26

AUM €3.1B · Monterro 4 · 2022 vintage · partially deployed · check €14-105M

4 platform investments since the 2022 vintage · mid-deployment vs its usual 5 per fund.

Bought Kaisa from Ventech, 2026 · Software, Sweden

15. Alkemia SGR SponsorVery High81

8 platform investments in Software & IT · 8 deals 2024–26

AUM €270M · Food Excellence I · 2025 vintage · deploying

6 platform investments since the 2025 vintage · largely deployed vs its usual 4 per fund.

Backed Circle Group, 2026 · Software, Italy

16. GSG GENII Software Group PE-backedVery High81

13 acquisitions in Software & IT · 4 deals 2024–26 · add-on program under BU Bregal Unternehmerkapital

Buy and build · 9 add-ons in 4 yrs

Added on Inlog SAS, 2025 · Software, France

17. Bowmark Capital SponsorVery High80

22 platform investments in Software & IT · 11 deals 2024–26

AUM €2.3B · Bowmark Capital Partners VII · 2024 vintage · deploying · check €21-158M

7 platform investments since the 2024 vintage · mid-deployment vs its usual 10 per fund.

Backed Altia, 2025 · Software, UK

18. Oakley Capital, Eurazeo, Sagard NewGen (I-Tracing platform) SponsorVery High80

15 platform investments in Software & IT · 19 deals 2024–26

AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M

10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.

Backed Senef, 2026 · Software, France

19. BU Bregal Unternehmerkapital SponsorVery High80

17 platform investments in Software & IT · 14 deals 2024–26

AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M

4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.

Backed Safety21, 2026 · Software, Italy

20. Maven Capital Partners SponsorVery High80

12 platform investments in Software & IT · 6 deals 2024–26

AUM €889M · Maven UK Regional Buyout Fund II · 2024 vintage · deploying · check €4-26M

6 platform investments since the 2024 vintage · largely deployed vs its usual 5 per fund.

Backed Chorus Intelligence, 2026 · Software, UK

21. Elvaston Capital SponsorVery High80

27 platform investments in Software & IT · 3 deals 2024–26

AUM €3.0B · Elvaston Capital Fund VI · 2024 vintage · deploying · check €17-124M

3 platform investments since the 2024 vintage · mid-deployment vs its usual 6 per fund.

Backed ERP GmbH, 2025 · Software, Germany

22. Swanlaab Venture Factory SponsorVery High80

12 platform investments in Software & IT · 18 deals 2024–26

Swanlaab Innvierte Agrifood Tech · 2024 vintage · deploying

Accelerating: 15 deals in the last 2 years vs 1.3/yr before.

Backed Junsoft, 2025 · Software, Brazil

23. Turenne Groupe SponsorVery High79

25 platform investments in Software & IT · 34 deals 2024–26

AUM €2.0B · Capital Sante 3 · 2025 vintage · deploying · check €3-21M

20 platform investments since the 2025 vintage · early in deployment vs its usual 80 per fund.

Backed M&C3i, 2026 · Software, France

24. Meanings Capital Partners with Bpifrance SponsorVery High79

8 platform investments in Software & IT · 7 deals 2024–26

AUM €906M · Meanings Private Equity Fund IV (MPEF IV) · 2025 vintage · deploying · check €6-45M

Accelerating: 6 deals in the last 2 years vs 1.8/yr before.

Backed Instant System, 2026 · Software, France

25. AFINUM Management GmbH SponsorVery High78

14 platform investments in Software & IT · 9 deals 2024–26

AFINUM X Buyout (2026) · 2026 vintage · deploying · check €10-75M

2 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.

Backed Fairbanks, 2026 · SaaS, Netherlands