The Hague-based Main Capital Partners closes €300M continuation fund to support its European expansion, with Hamilton Lane leading the investment.
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The Hague-based Main Capital Partners, a Dutch enterprise software investor operating in Europe and North America, announced the closing of its second continuation fund, raising €300M in commitments.
The fund was capitalised by existing limited partners, with Hamilton Lane leading the commitments and Trinity River Holdings acting as sub-lead.
This marks the second continuation fund raised by Main Capital Partners in cooperation with a recurring investor and participants in secondary transactions.
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. The firm manages and supervises nearly $986B in assets, including $141B in discretionary assets. It offers investment programs that provide clients access to private markets 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.”
Expansion across Europe
The continuation fund will be used to acquire the portfolio company ‘xxllnc’, a govtech firm based in the Netherlands.
Under Main Capital Partners, xxllnc has completed 12 add-on acquisitions. Main Capital Partners plans to continue working with xxllnc to expand its operations across Europe.
The first step of international expansion involves the anticipated combination of xxllnc with Documaster, a Norwegian provider of document management and e-archiving solutions for the public sector, which Main Capital Partners acquired in May 2025.
The company’s technology supports the capture, storage, organisation, and retrieval of documentation for public sector organisations.
By combining xxllnc and Documaster, Main Capital Partners aims to build a Pan-European govtech group. The combined organisation will employ approximately 380 full-time staff and serve more than 1,250 public sector entities across Europe.
The transaction offers existing investors the option to realise liquidity or continue investing in xxllnc. The fund also provides additional capital to support xxllnc’s international buy-and-build strategy under Main Capital Partners’ oversight.
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.”
Brief about Main Capital Partners
Main Capital Partners is a software investor managing private equity funds in the Benelux, DACH, the Nordics, France, and the US, with nearly €6.5B in assets under management.
The firm has over 20 years of experience in supporting software companies and works with management teams in its portfolio as a strategic partner to achieve growth and develop larger software groups.
Main Capital Partners employs approximately 90 staff across offices in The Hague, Düsseldorf, Stockholm, Antwerp, Paris, and an affiliated office in Boston.
The firm maintains a portfolio of more than 50 software companies. The combined portfolio employs over 15,000 people. Through its Main Social Institute, Main provides grants and scholarships to students studying IT and Computer Science at Technical Universities and Universities of Applied Sciences.
