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Top Tier Capital Partners raises $925m for its Venture Velocity Fund 4

Friday, August 05, 2022

Laxman Pai, Opalesque Asia:

Top Tier Capital Partners (TTCP), a fund of funds based in San Francisco, California, has raised $925 million in fresh capital.

The new commitments were for its Top Tier Venture Velocity Fund 4 (VVF4) and a number of separate accounts, including one for co-investing in late-stage climate technology, said a media release from the venture capital specialist managing niche-focused funds of funds, secondaries, and co-investment strategies.

With these new closings, the firm's total regulatory assets under management increased to more than $8.1 billion, said TTCP, known for investing in some of Silicon Valley's best venture firms.

Led by Managing Directors Garth Timoll, Sr., and Sean Engel, the new capital commitments will be invested as part of the firm's Venture Velocity Strategy. The total amount includes $503.5 million for VVF4, which was raised with the goal of continuing TTCP's prior achievements of investing directly into companies as either a co-investor or secondary buyer as well as buying venture capital fund interests in the secondary marketplace.

The remaining $421 million to be invested from related separate accounts will be used primarily for investing alongside the Velocity program. Velocity's strategies include investing in vehicles such as venture capital fund secondaries, general partner restructurings, continuation funds, portfolio strip purchases, direct co-investment, secondary activity, and tender of......................

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