Investcorp tech fund makes first exit

Bahrain-based Investcorp is to net US$360 million from the sale of a cybersecurity firm. 

The sale of Avira to US firm NortonLifeLock marks the first exit for Investcorp’s $400 million Technology Partners Fund IV.

The transaction is set to close in the first quarter of 2021, subject to regulatory approvals. 

Gilbert Kamieniecky, head of Investcorp’s technology private equity business, said that the offer from NortonLifeLock was “too compelling to ignore”. 

Other Investcorp investments from its latest technology fund include Calligo, a proprietary cloud solution; Ageras, an online marketplace for SMEs and information management software vendor, Contentserv.

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