Fund Friday: Top fundraising news in private equity

JPMorgan Chase has taken a major step toward digitising private markets by tokenizing a private equity fund on its proprietary blockchain platform, Kinexys Fund Flow, according to a report by the Wall Street Journal.

The initiative, the first of its kind by the bank, allows its private wealth clients to hold digital tokens representing ownership stakes in the fund, simplifying access, settlement, and recordkeeping for alternative investments.

The European Union is finalising plans to establish a €5bn Scale-Up Europe Fund to support high-growth companies in strategic technologies including artificial intelligence, quantum computing, and advanced materials, according to sources cited by Bloomberg.

The fund, which has already secured €3bn in investor commitments and an additional €1bn from the European Innovation Council, will target late-stage funding rounds of more than €100m. It aims to help European startups scale globally while keeping their headquarters and core operations within the region.

Hollyport Capital has raised $4.5bn for its latest flagship vehicle, Hollyport Secondary Opportunities IX, marking its largest fund to date and exceeding the initial $3bn target as investor appetite for secondaries continues to surge, Bloomberg reports.

The London-based firm secured $4.3bn for the main fund and an additional $250m through separately managed accounts. The new vehicle is more than double the size of its predecessor and attracted over $1bn in new investor commitments alongside strong support from returning LPs.