Sponsor CapVest has moved US-based M&A software platform Datasite into a continuation fund, according to filings.

The continuation vehicle, CapVest Strategic Opportunities 10, will be majority-owned by secondaries investor ICG’s Strategic Equity arm and will indirectly hold more than 25% of Datasite, said the same filings.

CapVest acquired Minneapolis-based Datasite in 2020. The US company has since acquired Sherpany, a Zurich-based provider of board reporting and meeting management software, and Australian peer Ansarada (through a take private), alongside a string of other acquisitions.

The sponsor has been active in raising continuation vehicles for its portfolio companies over the past few years, having taken the same path for Curium Pharma and NextPharma, as reported.

ICG also backed, CapVest Strategic Opportunities Fund 2, which holds Curium.

CapVest filed for registration of its fifth fund in May 2021. It has not announced a subsequent close, although the fund’s legal advisors point to a EUR 2.75bn vehicle.

CapVest did not respond to requests for comment. ICG declined to comment.