Veritas Capital has secured $15.3bn across its Fund IX strategy and related vehicles, delivering one of the largest fund closes in a market defined by extended timelines and tighter LP allocations.

The raise represents a 40% increase compared to Fund VIII, which itself was 68% larger than Fund VII. In an environment where fundraising momentum has stalled for many managers, the scale of the close stands out.

New York-based Veritas invests in companies providing essential software, data, and technology-enabled services across aerospace & defense, national security, healthcare, education, infrastructure, energy, and financial technology. These sectors, the firm notes, are driven by regulation, public policy, and structural innovation rather than short-term economic cycles.

Since closing Fund IX, Veritas has continued deploying capital across both its Flagship and Vantage strategies. Through its Flagship platform, the firm acquired GHX, expanding its position in healthcare supply chain software. The transaction included significant co-investment participation from global institutional partners. Meanwhile, its Vantage strategy acquired MetroStar, an AI-enabled digital transformation provider serving US defense and national security agencies.

Ramzi Musallam, CEO and Managing Partner, said the firm deploys capital “where modernization is structural and complexity creates durable opportunity,” highlighting a strategy designed to generate sustained returns across cycles.

Veritas manages over $54bn in assets as of September 30, 2025 and has ranked among the top ten private equity firms globally in the HEC-Dow Jones Large Buyout Performance Ranking for four consecutive years. 

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