Growth equity-focused investment firm FTV Capital has beaten its target for its fourth flagship fund by holding a $700m final close.
FTV originally targeted a $500m fundraise for the vehicle, which it said was significantly oversubscribed.
The final close brings FTV’s total assets under management to more than $1.8bn since it was founded in 1998.
FTV said it plans to continue focusing on high-growth companies at the intersection of its core sectors of enterprise software and technology, financial services and payments and transactions processing.
Brad Bernstein, FTV partner and head of the New York office, said, “Our team has already invested $170m in five exciting new FTV IV portfolio companies which achieved aggregate revenue growth of 49 per cent in 2013.
“The new capital will enable us to continue to partner with proven, motivated management teams in highly attractive businesses, where our contributions can help accelerate revenue growth, profitability and compelling returns for our investors.”
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