Dutch-Based Main Capital Partners Closes €300M Continuation Fund

Main Capital Partners, a Dutch enterprise software investor active in Europe and North America, announced the successful closing of its second continuation fund, securing €300M in commitments.

The fund was financed by existing limited partners, with Hamilton Lane leading the commitments and Trinity River Holdings serving as sub-lead.

This is Main Capital Partners’ second continuation fund raised alongside a recurring investor base and participants in secondary transactions.

Read Also - Amsterdam’s Saga Raises €1.5M To Accelerate AI Adoption In Law Firms

Jorn de Ruijter, Head of Fund Structuring and Investor Relations at Main Capital Partners, says, “We are delighted to close this transaction with the lead investor, and long-term partner, Hamilton Lane and the other investors in the fund. With exclusively current investors of Main providing the full funding of this continuation fund, we are pleased to extend our partnerships with these investors and look forward to the growth journey ahead.”

Hamilton Lane is a private markets investment firm with over 30 years of experience, managing approximately $986B in assets, including $141B in discretionary assets. The firm provides investment programs granting clients access to diverse private market strategies, sectors, and geographies.

Keith Brittain, co-Head of Secondary Investments at Hamilton Lane, adds, “Leveraging our 24+ years in the secondaries space and extensive experience on GP-led secondaries, we are looking forward to working alongside Main Capital Partners on the next phase of value creation for this high-quality business in a sector that is seeing strong tailwinds.”

The continuation fund will be deployed to acquire Dutch govtech firm xxllnc.

Under Main Capital Partners, xxllnc has completed 12 add-on acquisitions. The firm plans to support xxllnc’s European expansion, starting with a planned combination with Documaster, a Norwegian public-sector document management and e-archiving provider acquired by Main Capital Partners in May 2025.

The company’s technology enables public sector organisations to capture, store, organise, and retrieve documentation efficiently.

By merging xxllnc and Documaster, Main Capital Partners aims to create a Pan-European govtech group, employing around 380 staff and serving over 1,250 public sector entities across Europe.

The deal allows existing investors to either realise liquidity or maintain their investment in xxllnc, while providing additional capital to support its international buy-and-build strategy under Main Capital Partners’ guidance.

Charly Zwemstra, Managing Partner and CIO at Main Capital Partners and Chairman of the board at xxllnc, says, “The closing of this fund underpins the partnership that Main Capital Partners and xxllnc have formed since 2020.”

“We have jointly built a leader in a local market and are fully dedicated to continuing this successful journey with the management team by building a leading Pan-European govtech group. This leverages the knowledge and capabilities of Main Capital and aligns perfectly with our strategy to internationalise software businesses into Pan-European leaders.”

Main Capital Partners is a software-focused private equity investor with nearly €6.5B in assets, operating in the Benelux, DACH, Nordics, France, and the US.

With over 20 years of experience, the firm partners with management teams to drive growth and build larger software groups. It employs around 90 staff across offices in The Hague, Düsseldorf, Stockholm, Antwerp, Paris, and an affiliated Boston office.

Managing a portfolio of more than 50 software companies, the combined portfolio employs over 15,000 people. Through its Main Social Institute, the firm offers grants and scholarships to IT and Computer Science students at technical universities and universities of applied sciences.

About Main Capital Partners

Main Capital Partners is a strategic partner for software companies, supporting profitable growth and expansion. With over 20 years of experience, the firm also hosts the Main 50 and Main Insight events, promoting industry insights, collaboration, and innovation across its portfolio of software businesses.