Vista said to raise $850m for Endeavor Fund II

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Vista Equity Partners has reportedly raised $850m for its second Endeavour Fund focused on investing in early-stage enterprise software companies.

The firm has hit the hard cap for Vista Equity Endeavor Fund II and has finished fundraising, people familiar with the matter told Reuters.

Vista closed its debut fund in the series on $560m in 2017, and has already invested around two-thirds of its capital in seven deals, the sources added.

Vista’s second Endeavour Fund received a $60m commitment from SFERS earlier this week, after previously committing $50m to Fund I.

The Texas County and District Retirement System also committed $50m to Vista’s Fund II.

Under its endeavour strategy, the firm is looking to invest in companies with between $10m and $30m in recurring revenues. It is also typically targets Series B or C funding rounds.

Vista has raised more than $46bn of capital commitments since launch, which it manages through offices in Austin, Chicago, New York City, Oakland, and San Francisco.

The firm is also looking to raise $12bn for its seventh flagship vehicle according to investor documents reportedly seen by Private Equity International.

Last year, Vista took listed, fitness software business, Mindbody inc, private in a $1.9bn deal.

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