PSG Equity raises over €4.4 billion for software and tech bets

PSG Equity has raised over €4.4 billion ($5.1 billion) for a new fund targeting European software and technology firms, a vote of

confidence from investors in a sector that suffered a heavy selloff earlier this year. PSG Europe III is around 70 per cent larger than its predecessor vehicle, which the firm raised in 2023, people familiar with the matter said, asking not to be identified. The fundraising comes as the software sector recovers from a selloff brought on by the emergence of new AI models that are threatening to replace many incumbent systems.