- Investcorp to support Sababa
- Fund backed by Hayfin and Coller
- Sababa to expand across Middle East
Bahraini asset manager Investcorp has established a €240 million ($282 million) single-asset continuation fund to support the growth of Italian cybersecurity company HWG Sababa.
The fund acquired a majority stake in the Italian company from Investcorp Technology Partners V, a $570 million fund that reached a final close in 2024, alongside other co-investors.
The new fund, which closed fundraising in June, is backed by capital from London’s Hayfin Capital Management and Coller Capital.
The fund will support HWG Sababa’s expansion across Europe and the Middle East, organically and through acquisitions.
Since Investcorp’s initial investment in 2022, HWG Sababa has grown its top line by six times and executed four add-on deals, including the acquisition of Milan’s Sababa Security in 2023.
Enrico Orlandi, chairman of HWG Sababa, said the continuation fund is the “right solution” to fuel its next phase of growth.
ITP V retains its holdings in other portfolio companies such as Veda (Germany), Unyfr (US) and NetRom (Netherlands).
In May Investcorp sold its entire stake in Citykart, an Indian fashion retailer, making a fourfold return on its 2019 investment.
In the same month Investcorp Capital, majority-owned by Investcorp, exited 12 residential multiple-occupancy real estate assets across five states in the US.
