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Laxman Pai, Opalesque Asia: Veritas Capital has raised $14.4 billion for its newest and largest fund, which focuses on investments in companies at the intersection of government and technology.
The New York-based technology investor said in a press release that the Veritas Capital Fund IX was significantly oversubscribed, with demand exceeding the hard cap and surpassing the initial target of $13 billion.
The fundraise represents a 35% increase over Fund VIII, which closed at $10.7 billion in 2022. With the close of Fund IX, Veritas now manages more than $54 billion in assets across its strategies, strengthening its position as a leading investor focused on technology.
Veritas Capital Fund IX attracted strong commitments from public pension funds, as investors in the new fund include the New York State Common Retirement Fund ($300 million); Arkansas Teacher Retirement System ($35 million); Indiana Public Retirement System ($150 million); New Mexico State Investment Council ($100 million); Virginia Retirement System ($250 million); and Oregon State Investment Council ($250 million).
"Fund IX represents an important step forward for Veritas, and I'm deeply proud of our team and the enduring partnerships that made this milestone possible," said Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas.
"In one of the most challenging fundraising environments in recent memory, strong demand for Fund IX is a clear endorsement of our strategy and...................... To view our full article Click here
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