Kennet VI continues the firm’s legacy of success established by its previous five funds. With over 25 years of experience and a strong track record across various market cycles, Kennet has demonstrated resilience by raising its largest fund during a challenging macroeconomic period. The firm has also maintained its momentum in delivering profitable exits, such as Eloomi in January 2024, which generated a 3.1x cash multiple. This follows a series of successful exits in recent years, including Nuxeo (5x), Dext (3.8x), CrossBorder Solutions (6.4x), Rimilia (2.5x), and Impartner (2.6x).

Kennet focuses on investing in established, high-growth B2B SaaS technology companies that are founder-owned and either highly capital-efficient or fully bootstrapped. The investment from Kennet is often the first external funding these companies receive, enabling them to scale, expand internationally, build world-class management teams, and enhance strategic value.

Michael Elias, Managing Director, Kennet Partners, said: “This fundraise marks another important milestone for Kennet as we close our largest fund to date, with a significant number of previous investors participating in this fund. At a time when the market has recognised that ‘growth at any cost’ is no longer rational, our long-standing conservative strategy has appealed to investors. Kennet’s risk-balanced strategy provides investors with the growth associated with innovative technology, while maintaining a low failure rate. We have proven over numerous fund cycles that capital efficient B2B SaaS businesses offer attractive investment opportunities and that helping entrepreneurs build outstanding management teams and enter global markets remains a winning formula.”

Hillel Zidel, Managing Director, Kennet Partners, said: “Our proven approach is based on the relationships we establish with bootstrapped founders, understanding that this will be a long-term trusted partnership. Unlike venture-backed businesses, our founders have typically not taken external investment before – they need to know they are working with the right team to realise their global ambitions. We are very proud that founders choose to work with Kennet because of our deep market knowledge, and reputation for fairness and integrity. This has enabled us to invest in great companies at sensible valuations regardless of the hype cycle. B2B software has become the engine room of many sectors, and Kennet VI will be at the forefront of the next generation of mission critical, scaling businesses.”

Kennet VI was raised as part of a successful partnership with Edmond de Rothschild Private Equity which began in 2017. Edmond de Rothschild is a cornerstone investor in the Kennet VI fund and the bank’s global client base has had priority access to the fund. British Patient Capital, Federated Hermes Private Equity and Bpifrance also committed to the fund.

Francois-Xavier Vucekovic, CIO at Edmond de Rothschild Private Equity, adds: “We firmly believe that technology plays a critical role in the transformation of our economies and societies. Our commitment is to support and nurture companies that are at the forefront of innovation and value creation. The success of this fundraising effort, particularly in the current challenging environment, is a testament to the strength and relevance of Kennet's strategic approach. By leveraging cutting-edge tech solutions, Kennet ensures the sustainability and growth of their clients' business models, enabling them to thrive in a rapidly evolving market."