Fundraising

Tech-focused firms have found favor with limited partners as many have outperformed other strategies despite, and in some cases, because of, the pandemic.

The latest growth-stage vehicle comes almost 10 months after the firm raised $1.7bn for its previous fund.

Tech Opportunities vehicle is targeting $1.5bn for investments in mid-market buyouts and late-stage growth for control and minority transactions.

Asana Partners has raised $750 million for its third fund, according to an SEC filing.

Brookfield, which typically makes hefty commitments to its flagship vehicles, is likely to invest $3bn to $4bn in Fund VI, sources said.

Peppertree Capital has raised over $1.2 billion for its ninth fund, according to an SEC filing.

Fund II wrapped up 40% above its initial target and 70% larger than Blackstone’s inaugural GP stakes vehicle, which closed in 2014 at $3.3 billion.

Excellere’s fund close, which came in recent weeks, was a profound moment for the Denver firm.

Deployment thresholds rules generally restrict either launching the successor fund or holding a first close on the next fund.

Industrial Growth Partners is seeking to raise $1.2 billion for its sixth fund, according to an SEC filing.