APG has committed €70 million to Dutch software investor Main Capital Partners’ Foundation Fund II. The investment is made on behalf of APG’s pension fund client ABP. A significant portion of the commitment is expected to be invested by Main in software companies headquartered in the Netherlands.
Main Capital has a positive contribution to the Dutch software ecosystem, through its value creation strategy, which includes accelerating growth, international expansion, M&A, and operational improvements, according to Carlos Garcia Rivas (private equity investor at APG). “Dutch companies that secure an investment from Main Capital, benefit considerably from this active value creation strategy, placing them in a more competitive position internationally, in addition to also contributing to higher profitability, employment growth and fostering domestic technical talent and expertise.” The company expects to invest a significant portion of the fund in the Netherlands, given their strong heritage and positioning within the industry.
With the newer Foundation strategy Main focuses on investing in smaller companies with modern SaaS technologies. This strategy is a natural extension of Main because of the firm’s expertise and long tenure in the smaller cap software market – a segment of the market they have been covering for over 20 years already. ABP’s commitment aligns with its ambition of directly contributing to growth of innovative companies in the Netherlands.
Xitres investment
In July 2024, Main Foundation II acquired a majority stake in Xitres. This is a Hengelo-based provider of cloud-based CRM solutions that enable clients to digitally manage the entire customer journey throughout the sales and rental processes while facilitating efficient communication with potential buyers and tenants. “Given the significant housing shortages in the Netherlands, the need for innovative tooling that optimizes such processes has become more relevant and crucial than ever”, says Garcia Rivas.