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General Atlantic raises $7.8bn Fund VI after surging past target

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Growth investment major General Atlantic has held a $7.8bn final close for its sixth flagship fund, beating its $5bn target.

The firm now has $23.8bn in committed capital and more than $78bn in assets under management.

Bill Ford, chairman and CEO of General Atlantic, said, “Our global growth equity strategy positions us to capitalize on the profound acceleration of digital innovation and global entrepreneurship as we seek to deliver attractive risk-adjusted returns to our capital partners.

“Our ability to partner with management teams, help build rapidly growing, technology-enabled companies on a global scale, and generate strong and consistent investment performance distinguishes General Atlantic with both entrepreneurs and investors.”

Graves Tompkins, managing director and global head of capital partnering, added, “We believe that growth equity plays a critical role in driving innovation and delivering both strong performance and positive impact.

“The enthusiasm for our global investment strategy and partnership approach enables us to scale our capital base to meet our expanding opportunity set while creating strategic and long-term relationships with family and institutional investors.”

General Atlantic focuses on high-growth and tech-enabled companies in consumer, financial services, healthcare, life sciences and technology. It has invested $49bn in 430 deals since inception.

It was reported yesterday that the team up between General Atlantic and veteran credit investor Tripp Smith is already eyeing $3bn for its second fundraise.

It teamed up with credit investor Tripp Smith’s Iron Park Capital Partners early last year to create the Atlantic Park joint venture.

The firm agreed to co-lead a $1.5bn funding round for Turkish e-commerce platform Trendyol last month, leading its valuation to $16.5bn.

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