BOSTON, MA – October 16, 2023 – Astira Capital Partners (“Astira”), a private equity firm focused on buyouts of tech enabled services and software businesses based in North America, announced the final closing of its debut fund, Astira Capital Partners Fund I LP (together with its related vehicles, the “Fund”), with $675 million of institutional capital commitments. The Fund will focus on partnering with experienced management teams with significant domain expertise and will specialize in investments in B2B services businesses operating in the government technology & services, financial services, marketing & information services, and governance, risk, and compliance sectors.
The Fund was oversubscribed and closed above its original target of $500 million, just five months after launching. Astira secured commitments from a globally diversified investor group, comprised of leading financial institutions, insurance companies, family offices, funds-of-funds, endowments and foundations, consultants, and seasoned CEOs and industry executives.
“Today’s announcement is a major milestone for Astira – we couldn’t be more excited and humbled to have earned the trust and support of an exceptional group of investors, particularly given the challenging fundraising environment,” said Azra Kanji, Founding Partner. “Their support underscores their faith in our ability to find attractive investment opportunities and use our deep sector expertise and operational capabilities to create value for the businesses in which we invest. We have built a diverse team of experienced investors and operators with a shared vision and values, and we look forward to partnering with like-minded companies and management teams."
Lazard acted as the exclusive placement advisor to the Fund. Kirkland & Ellis LLP served as legal counsel.
About Astira
Astira is a Boston-based middle market private equity firm solely focused on investing in North American-based, B2B workflow solutions businesses in target areas including Governance, Risk, and Compliance, Government Technology, Financial Services and Marketing Services.
Astira was founded in 2023 by Azra Kanji, former Partner at Abry Partners, who has over 20 years of private equity experience. The senior team of Astira collectively has 80+ years of private equity and operating experience, with significant shared deal experience and personal connectivity.
Astira focuses primarily on control positions and seeks to invest $50 to 200 million in total equity per investment in companies generating $10 to 30 million of EBITDA. By partnering with well-established management teams and applying the team’s significant investment and operational experience, Astira seeks to accelerate performance and position businesses for long term, sustainable success.