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Laxman Pai, Opalesque Asia:

Sunstone Partners, a growth equity firm based in San Mateo, California, announced the final institutional close of its oversubscribed $925m third fund, Sunstone Partners III, at its hard cap.

The company specializes in growth equity investments in technology-enabled services said in a press release that Fund III, which more than doubles the total committed capital managed by Sunstone Partners, is the firm's largest fund to date and brings total committed LP capital to $1.7B since inception in 2015.

According to the release, Sunstone Partners received strong support from its existing investor base of leading endowments, foundations, family offices, fund-of-funds, and pension funds, while also adding several new institutional investors.

"We are incredibly grateful to our existing LPs for their continued support and excited to welcome and work with our new investors," said Gustavo Alberelli, Managing Partner at Sunstone Partners. "Their strong support is a validation of our investment strategy, overall performance, and the team we are building at Sunstone Partners."

Consistent with the strategy of prior funds, Sunstone Partners will focus on growth equity and growth buyout investments in profitable technology-enabled services and software companies, typically founder-owned, it said.

Sunstone Partners targets investments of $50 million to $150 million of equity capital per portfolio company. The firm has deep expertise in several s......................

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