Crosspoint closes debut fund

The Woodside, California-based firm raised $1.3bn hitting its hard-cap.

Fund name: Crosspoint Capital Fund I
Amount raised: $1.3 billion
Target size: $1.0 billion
Hard-cap: $1.3 billion
Stage of fundraising: Final close
Final close date: April 2021
Time on the road: 10 months
Legal advisor: Ropes & Gray

Crosspoint Capital Partners has closed its debut fund at $1.3 billion surpassing its $1.0 billion target. The vehicle is one of the largest inaugural funds focusing on the technology sector and was raised against the backdrop of the global covid-19 pandemic, which has depressed fundraising for many first-time private equity vehicles, according to Greg Clark, Managing Partner of Crosspoint.