The fund, Comvest Investment Partners V, closed around $850m from Limited Partners and $43m from the General Partner and Affiliates.
Comvest has already made the first investment from the fund with the acquisition of AxisPoint Health from McKesson Corporation in June this year.
The fund will also invest in mature and growing middle-market companies that can benefit from Comvest’s significant capital base and operationally focused approach to investing.
It will make equity per investments ranging from $25m to $100m in industries including healthcare services, industrials, consumer and retail, and transportation and logistics.
Comvest Partners founder and managing partner Michael Falk said: "Over the last decade, Comvest has invested heavily in all areas of the firm, and continues to do so. We are appreciative of the support and confidence we have received from both our existing and new investors.
"We are firmly committed to executing on our strategy and serving our investors, management teams, operating partners, and employees."
The recent close follows Comvest’s closing of Comvest Capital III with $450m in capital commitments.
In August this year, Comvest opened an office in Chicago in a bid to increase origination capabilities for both the direct lending and private equity strategies.
