The closing marks the second successful fundraise of a continuation fund for Main Capital Partners, partnering with a long-standing investor in Main Capital Partners and a globally recognized leader in secondary transactions.
The transaction was fully capitalized by a group of existing limited partners, led by funds managed by global private markets investor Hamilton Lane (Nasdaq: HLNE), with Trinity River Holdings serving as sub-lead.
The continuation fund was established to fully acquire the portfolio company ‘xxllnc’, a leading GovTech player based in the Netherlands. Under Main’s stewardship, xxllnc has become a Dutch leader in GovTech-software through strong organic growth and realizing 12 add-on acquisitions. Main Capital Partners aims to continue its strong partnership with xxllnc, with the aim of growing the company into a Pan-European GovTech leader.
The first step of the internationalization is the anticipated combination with Documaster, a Norwegian provider of document management and e-archiving solutions for the public sector that Main Capital Partners acquired in May 2025. The completion of this combination is subject to customary regulatory approval. The company’s technology streamlines the capture, storage, organization, and retrieval of documentation, helping organizations reduce inefficiencies and maintain compliance. By combining these two leading players in the Benelux and Nordic regions, Main Capital establishes a solid foundation to further grow this combination into a Pan-European GovTech group. The combined group will employ around 380 FTE and serve over 1,250 public sector organizations across Europe, creating a strong platform for future international expansion.
This transaction has provided existing investors with optionality, offering either liquidity or the opportunity to continue investing in the significant growth potential of xxllnc. Additionally, the fund provides xxllnc with additional capital to further pursue its international buy-and-build strategy under the continued stewardship of Main Capital.
The closing of this fund underpins the partnership that Main Capital Partners and xxllnc have formed since 2020.''
Charly Zwemstra, Managing Partner and CIO at Main Capital Partners and Chairman of the board at xxllnc, commented: “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 internationalize software businesses into Pan-European leaders.”
Jorn de Ruijter, Head of Fund Structuring and Investor Relations at Main Capital Partners, commented: “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.”
Keith Brittain, Co-Head of Secondary Investments at Hamilton Lane, said: “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.”
Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 750 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has approximately $986 billion in assets under management and supervision, composed of nearly $141 billion in discretionary assets and more than $845 billion in non-discretionary assets, as of June 30, 2025. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit our website or follow us on LinkedIn.
Proskauer Rose LLP acted as lead legal counsel and Main did not use a placement agent for the fundraising.
Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.
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