EIKON’s investment partner, Tenzing, today announced a further fund raise of £400m for their second fund, Tenzing II. The fund was raised inside nine weeks and is the first buyout fund raised through an entirely virtual process.
The launch of the fund raising came at a globally uncertain and uncomfortable time making the process slightly more complex. Tenzing are more convinced than ever in the ability of their investment partners to continue delivering growth.
Tenzing II will seek to build upon Tenzing I, focusing on backing inspiring founders with whom they have a shared vision of building high growth, tech and tech-enabled businesses, into enduring independent powerhouses.
Since Tenzing partnered with EIKON in October 2019, EIKON has experienced continued growth, further enhanced as the business diversifies in its services and customer base. Both Tenzing and EIKON share values of renowned excellence and quality, attributes which sustain even through a global pandemic.
This latest fund raise allows Tenzing to invest deeper into such businesses, provide additional firepower to seize their growth opportunities and deliver more unique hands-on support.
Christian Hamilton, Founder and Co-Managing Partner said: “Our amazing portfolio companies have performed so well in such a unique and challenging time, this meant the Tenzing team could dedicate time to supporting our companies’ growth rather than fire-fighting. The robust growth potential and solid long term investment cases behind each of our market-leading companies are part of the reason there was so much investor demand for the new fund. We are so excited about the next chapter in the Tenzing journey and are privileged to share the journey with an amazing team. Thank you to everyone.”