Highland Europe has appointed Aztec Group to provide fund administration and accounting services to support the fundraising activities and final close of its latest fund, Highland Europe Technology Growth IV Limited Partnership.
Established in 2012, Highland Europe invests in rapidly growing European internet, mobile, and software companies that address large market opportunities.
The fund closed with commitments totalling €700 million, with a global investor base spanning Europe and North America.
Highland Europe says the capital will enable it to double-down on its strategy of backing Europe’s most outstanding founder-led teams in software and internet businesses.
Aztec Group supported Highland Europe with the establishment of its new fund and will continue to provide fund administration and accounting services from its Jersey office.
Paul Millar (pictured), associate director, private equity at Aztec Group, says concluding the fundraising process in such a short timeframe and in the current environment “is a clear reflection of the market’s confidence in Highland’s investment strategy and team”.
Ronan Shally, partner and chief financial officer at Highland Europe, explains: “To launch our latest fund in the current climate required an enormous effort from all of our employees. Completing fundraising remotely for the first time was a challenge in itself, but to do so seamlessly and to a strict timetable really underlined the calibre and commitment of our people.”
“We are particularly grateful to our long-standing partners at Aztec for their expert guidance, professionalism and ongoing support throughout,” Shally adds.
