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Laxman Pai, Opalesque Asia: FTV Capital, a venture capital firm with a fintech focus, has closed its eighth flagship fund (FTV VIII) at $3.4 billion and its inaugural Ascend fund at $651 million.
Both funds surpassed their fundraising targets, according to a press release from the growth equity investment firm based in San Francisco, California.
With this fundraise, FTV has raised over $10.2 billion, invested over $6.7 billion in 149 portfolio companies, and realized over $7.4 billion since the firm was founded in 199.
FTV VIII closed oversubscribed at $3.4 billion, surpassing its target and closing well above FTV VII, its predecessor fund, which closed at $2.35 billion in March 2022.
Ascend I closed oversubscribed at $651 million, also surpassing its target. Both funds will make control and minority equity investments in companies across the enterprise and financial technology landscape - areas where the firm has deep experience and expertise built over multiple decades.
As per the release, FTV VIII will target investments ranging from $60 million to $300 million, partnering with management teams to accelerate growth and expansion. Ascend I will take the same approach with check sizes ranging from $20 million to $60 million.
Brad Bernstein, managing partner at FTV Capital said: "As growth equity plays an increasingly vital role in the innovation ecosystem, we're thrilled to launch Ascend I alongside our flagship fund so that we can support mor...................... To view our full article Click here
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