Just closed: Drive Capital raises $296m

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Drive Capital has raised $296 million for its Drive Capital Fund II, according to a SEC filing. The Columbus-headquartered firm began fundraising in 2015 with a $250 million target.

Its previous fund raised $250 million in 2014.

Investors that committed to Drive Capital Fund II include the Ventura County Employees Retirement Association.

The fund will target venture capital opportunities in technology, media and telecommunications sectors in the United States.