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Laxman Pai, Opalesque Asia: Chicago- headquartered Valor Equity Partners announced that it officially closed its fifth fund - Valor Equity Partners V - at $1.7 billion. The oversubscribed fund closed at its hard cap.
Following the Fund V close, Valor is managing approximately $7.3 billion in regulatory assets from a broad range of global, institutional, family office, and high net worth investors.
Led by Antonio Gracias, Valor is perhaps best known for its investments in Elon Musk-owned companies Tesla, SpaceX, and The Boring Company. It's also backed a handful of Chicago startups, such as Cameo, Ocient, Fooda, Catalytic, and Uptake.
Valor Equity Partners V will make initial growth-oriented investments of between $25 million and $75 million in technology-enabled companies, a news release said.
Antonio J. Gracias, Valor's Founder, Chief Executive Officer, and Chief Investment Officer, noted, "We are extremely grateful for the support we continue to receive from our existing investors, many of whom have invested with us over multiple funds, and welcome a new group of the U.S. and international limited partners to Fund V. We are honored to have their trust and confidence."
Investors include the $247.7 billion New York State Common Retirement Fund, Albany; the $51 billion Illinois Municipal Retirement Fund, Oak Brook, and the Wyoming State Loan and Investment Board, Cheyenne, which oversees $22.7 billion in state permanent funds.
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