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Laxman Pai, Opalesque Asia: JP Morgan Growth Equity Partners, a private investment arm of JPMorgan Chase & Co focused on late-stage venture and growth equity investments, closed its inaugural growth equity fund with more than $1 billion in aggregate capital commitments that will be used to invest across the software, fintech, real estate and consumer technology sectors.
The asset manager plans to invest from the pool, 270 Growth Fund I LP and related vehicles, in software, real estate, financial- and consumer-technology startups up to the point where they may be ready for an initial public offering, according to a media release from the fund sponsor.
The company said that the aggregate capital commitments raised from a broad set of institutions, family offices, and individual investors across the Americas, Europe, and Asia as well as J.P. Morgan.
Growth Equity Partners leverages J.P. Morgan's global franchise to invest in companies ranging from Series B to the pre-IPO stage across software, fintech, real estate, and consumer technology sectors, it said.
The Fund has more than 80% of its capital commitments available to deploy in new investment opportunities and to help existing portfolio companies scale.
"We have raised more than $1 billion for our inaugural fund, particularly in a challenging market environment where only two venture funds over $1 billion were raised last quarter1," said Christopher Dawe, Managing Partner of the Fund.
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