Global private equity firm Advent International is seeking $3bn for its second technology-focused fund, less than two years after collecting $2bn for its debut tech offering, according to people familiar with the fundraising efforts.
Advent’s technology funds make investments in smaller tech deals and co-invest in larger deals alongside other Advent-managed funds.
If the firm reaches its fundraising target, Advent Global Technology II LP would be 50% larger than its predecessor.
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Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 345 private equity transactions in 41 countries, and as of June 30, 2019, had $54 billion in assets under management.
With 15 offices in 12 countries, Advent has established a globally integrated team of over 195 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology.
Source: Wall Street Journal
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