FTV closes largest-ever fund on $2.3bn, with almost 100% reup from LPs

Growth equity investment firm FTV Capital has closed its largest-ever fund on $2.3bn, with an almost 100% reup rate from LPs.

FTV VII will make control and significant minority equity investments ranging from $30m to $200m.

Brad Bernstein, managing partner at FTV Capital, said, “Over the last 24 years, we’ve had the extraordinary privilege of partnering with well over a hundred founders to achieve their strategic objectives. Our results validate our consistent and time-tested approach: build relationships rooted in trust and collaboration, and support entrepreneurs at every step by leveraging our deep sector expertise, distinctive network and proven value creation platform to help fuel their success.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter

“This record fundraise is a testament to the exceptional caliber of talent on our team and their unrelenting dedication to driving superior results. Our team will continue to execute a highly-disciplined strategy and remain laser focused on identifying critical trends in the innovation economy as a means to proactively source and back the most compelling companies that are reshaping industries.”

FTV has raised $6.2bn in total and invested over $4bn in 130 portfolio companies.

The firm hit the $1.2bn hard cap for its sixth flagship fund in 2020. It has seen a 80% year-over-year revenue growth rate as of Q3. The fund generated $3.2bn in value with exits including A-LIGN, Enfusion, True Potential and VPay.

Its portfolio has spanned enterprise technology and services, financial services, and payments and transaction processing businesses.

The firm held the final close of its fifth fund back in 2016 hitting the $850m hardcap. Its fourth-vintage vehicle secured $700m in 2014.

Source: Altassets

Can’t stop reading? Read more