- Investcorp to provide backing for Sababa
- Fund supported by Hayfin and Coller
- Sababa aims for expansion in the Middle East
Bahraini asset manager Investcorp has launched a €240 million ($282 million) single-asset continuation fund designed to foster the growth of Italian cybersecurity firm HWG Sababa.
The fund acquired a majority interest in the Italian company from Investcorp Technology Partners V, a $570 million fund that reached its final close in 2024, along with other co-investors.
Closed fundraising in June, the new fund has secured backing from Hayfin Capital Management in London and Coller Capital.
The fund is set to facilitate HWG Sababa’s growth across Europe and the Middle East, both organically and through strategic acquisitions.
Since Investcorp’s initial investment in 2022, HWG Sababa has experienced a sixfold increase in revenue and completed four add-on acquisitions, including the purchase of Sababa Security in Milan in 2023.
Enrico Orlandi, chairman of HWG Sababa, remarked that the continuation fund represents the “ideal solution” for advancing its next growth phase.
ITP V continues to hold interests in other portfolio companies, such as Veda (Germany), Unyfr (US), and NetRom (Netherlands).
In May, Investcorp divested its entire stake in Citykart, an Indian fashion retailer, yielding a fourfold return on its 2019 investment.
In the same month, Investcorp Capital, which is majority-owned by Investcorp, exited 12 residential multi-occupancy real estate assets across five states in the US.
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