– FTV Capital announces successful completion of its latest growth equity fundraise with $4.05 billion in capital commitments.
– The raise spans two funds:
1- FTV VIII (flagship) with $3.4 billion, surpassing its target and predecessor fund FTV VII ($2.35 billion in 2022).
2- FTV Ascend I (new vehicle for smaller investments) with $651 million, also surpassing its target.
– The capital will support innovative, high-growth companies with equity checks ranging from $20 million to $300 million, while maintaining a concentrated portfolio.
– FTV has raised over $10.2 billion, invested over $6.7 billion in 149 portfolio companies, and realized over $7.4 billion since 1998.
– FTV VIII will focus on investments between $60 million and $300 million in enterprise and financial technology.
– Ascend I will target investments from $20 million to $60 million in the same sectors.
– New investments in 2024 include Arden, BillingPlatform, Kore.ai, Orbus Software, ParkHub, VALD, and Zema Global.
– Significant realizations in 2024 include Agiloft, Docupace, Egress, and Tango Card.
– Strong start for both funds with investments in Orbus Software and Windward, along with several more expected soon.
– FTV’s investment approach: flexible capital, deep domain expertise, and strong partnerships through its Global Partner Network®.
– Brad Bernstein, managing partner, emphasizes FTV’s commitment to visionary entrepreneurs and long-term partnerships.
– Karen Derr Gilbert, partner and COO, acknowledges overwhelming support from existing and new limited partners.
With this fundraise, FTV announced the expansion of its leadership team with several promotions, including: Karen Derr Gilbert, Michael Cichowski, Alexander Malvone, Brent Fierro, Paul Cabral.
– Kirkland & Ellis served as fund counsel.
