Main makes first platform investments for new Main Foundation I fund

The Hague, December 14, 2021 – Software investor Main Capital Partners today announces two acquisitions of majority stakes in ORIBI ID-Solutions (“ORIBI”) and Qics in The Netherlands. The combined deal size is in the region of EUR20 million.

These acquisitions represent the first two investments for its recently launched ‘Main Foundation I’ fund that targets smaller, high potential software companies delivering modern and highly capable technology platforms.

Both Dutch software companies are market leaders within their software segments. ORIBI provides software for Identity & Access Management (“IAM”), which 70% of Dutch municipalities currently use today. Qics is a leading provider of Professional Services Automation (“PSA”) and supports business service providers and healthcare companies in their digital transformation with SaaS solutions for planning, timesheet registration, invoicing and business intelligence among other service offerings.

Main Foundation I
Main Capital Partners has been investing exclusively in enterprise software companies since 2003. In October 2021, Main launched its new flagship fund Main Capital VII with a hard cap of EUR1.2 billion. Following the success of its earlier funds and the increasing size of associated investments, Main then decided to launch a second fund strategy in tandem (“Main Foundation I”), for investments targeting smaller but profitable companies with high growth potential. Main Foundation I closed at a value of EUR210 million, which brings Main’s assets under management (“AUM”) to EUR2.2 billion.

Building strong and innovative European software groups
“The Professional Services Automation market offers several growth opportunities on both national and international levels,” explains Charly Zwemstra, Chief Executive Officer at Main Capital Partners.

“We have extensive experience within both sectors which we will implement to further grow and develop these exciting businesses. We want to play an important role in consolidating these fragmented software markets by perfecting strong European software firms and achieving sustainable growth through solid business models,” added Zwemstra.

Main’s investment in ORIBI highlights the growing societal importance and value-add of data protection. “The market for IAM software is predicted to grow with at least 13% in the coming three years,” commented Zwemstra. “Both the demand for identity verification solutions and the sheer importance of data security are rapidly increasing, and rightly so.”

Main acquires 35 companies in 2021
Main is continually looking to execute organic growth within current sectors as well as driving expansion into adjacent markets. A selective cross-border buy-and-build strategy will be deployed where there is potential to strengthen the strategic position of these companies. Main is the most active software investor in its core geographies, according to Preqin data. Main will have closed an impressive 35 acquisitions in 2021 to date, with 21 in the Benelux region, 8 in DACH and 6 in the Nordics. This is an increase of 152% compared to 2020, when Main closed 23 deals.

Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH and Nordics. Main has almost 20 years of experience in developing software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realise sustainable growth and build excellent software groups. Main has over 45 employees and has offices in The Hague, Stockholm and Düsseldorf. As of October 2021, Main has over 2.2 billion euros under management. Main has invested in more than 120 software companies. These companies create jobs for approximately 4,000 employees.

ORIBI ID-Solutions
ORIBI, founded in 2009, provides modern solutions that make it possible to securely and efficiently verify and process the identity of visitors, customers and employees, among others. In addition, ORIBI develops software for secure and efficient visitor registration and ID screening of employees and customers. ORIBI has about 20 employees who serve more than 400 customers from the headquarters in Oisterwijk. Over half of these are municipalities, but ORIBI also serves customers in the automotive, temporary employment, construction and industrial sectors. 

Qics
Qics, founded in 2000, has approximately 30 employees from offices in Katwijk and Slovakia serving over 300 customers at home and abroad. The customer base includes business service providers in accountancy (such as Lansigt Accountants and Tax Advisers and Vermetten Accountants and Advisers), consultancy (such as Verdonck, Klooster & Associates and Atrium Group), IT (such as Wunderman Thompson Commerce and Ximedes) and in the healthcare sector (such as Vierstroom Hulp Thuis and Florein Zorg).