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Alternative Market Briefing

Lead Edge Capital lands nearly $2bn tech-focused fund for growth-equity bets

Monday, April 11, 2022

Laxman Pai, Opalesque Asia:

New York City-based growth equity investment firm Lead Edge Capital (LEC) raised $1.95 billion for its largest fund to date, Fund VI, to make bets on software, internet, consumer, and tech-enabled service companies.

The technology-focused growth stage investment fund said in a press release that it has an investor base of over 500 limited partners and institutions.

The pool follows a $950 million fund that Lead Edge closed in October 2020 - also from around 500 investors - and which brought the firm's assets at the time to $3 billion. The addition of Fund VI brings the firm's total capital raised since inception to $5 billion.

"With the help of our dedicated LP base, we've taken an innovative, hands-on approach to support founders and differentiate ourselves," said Mitchell Green, Founder and Managing Partner of Lead Edge Capital.

Limited Partners come from companies including Charles Schwab, Capital One, Disney, NetSuite, Colgate-Palmolive, eBay, Microsoft, Xerox, Unilever, Google, Cisco, Saks, Autodesk, Intuit, ESPN, and many more.

"Fund VI will be an extension of this strategy, continuing to drive results for portfolio companies and build a network of global leaders to serve the next generation of software, internet, and consumer service businesses," Mitchell added.

LEC will target making equity investments of between $15 million and $200 million per portfolio company from Fund VI and continue its focus on investing prim......................

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