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The technology and consumer growth equity firm firm raised $400 million for its main fund, Volition Capital Fund IV LP, more than the $250 million it raised for its previous fund in 2016.

It also collected $200 million for its first-time "select" fund, Volition Capital Select Fund I LP, which will make follow-on investments into existing portfolio companies at later stages.

With the additional $600 million in commitments, Volition Capital now has $1.1 billion in total assets under management at its 10-year anniversary as a firm.

With the launch of Fund IV, Volition will maintain its core investment focus in high growth, principally bootstrapped companies with $5 million - $50+ million in revenue in the software, Internet, and consumer sectors.

Select Fund I is a new vehicle with the primary focus of supporting Volition's most promising portfolio companies that warrant larger capital investment. Together, the Funds enable Volition to continue its leadership position in the small-cap growth equity asset class.

"Over the past 10 years, Volition has been singularly focused on high-growth, founder-owned businesses that have true breakout potential," said Larry Cheng, Managing Partner. "We believe that our total commitment to this focus has been key to our success, and we look forward to continuing that focus with Fund IV and Select Fund I."

Fund IV will be Volition's largest fund in the firm's 10-year history, with limited partners across the endowment, foundation, hospital, fund-of-fund, pension, and family office communities.