Franklin Templeton raises $70.4m for new venture fund

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The VC arm of US-based buyout house Franklin Templeton has raised $70.4m for a new venture fund.

Franklin Venture Partners has secured commitments from at least 13 investors for the Franklin Blackhorse LP, according to an SEC filing.

The firm has not listed a target for the fundraise but confirmed in the documents that it expects the raise to last more than one year.

Franklin Ventures also appears to be raising another venture capital fund, Franklin Talos, which picked up $75m of capital commitments by October last year another filing shows. It is unclear how much that vehicle is targeting.

Franklin Templeton Financial Services has been listed as a placement agent for the Blackhorse fund in all US states.

Franklin Templeton has around $712bn of assets under management as of March 2019.

Last month the California–headquartered investment major led an $88m funding round for business payments software platform Bill.com, bringing the total amount raised by the company to $275m.

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