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True Wind Capital raises $817m for sophomore fund, 1.5x bigger than Fund I

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Technology-focused investment house True Wind Capital Management has closed its second fund on $817m of equity commitments, almost 1.5x the size of its predecessor fund.

The firm said Fund II will continue to partner with strong management teams and invest in leading technology companies across niche sectors including software, data analytics, tech-enabled services, internet, financial technology, and hardware.

The vehicle has already been tapped for investments in architecture, engineering and construction contract provider AIA Contract Documents, and pet service marketplace Rover Group.

Adam Clammer, founding partner of True Wind, said, “We are grateful for the continued confidence and strong support we received for Fund II from a diverse group of new and existing high caliber investors.

“True Wind continues to distinguish itself as a leading technology-focused investor by bringing large cap experience to the lower middle market and positioning our portfolio companies for enduring success.”

True Wind was launched in 2015 by Adam Clammer and James H. Greene, Jr., who previously founded and led KKR’s Global Technology Group.

It raised $558m for its debut fund in 2017. Investments from the fund include Nasdaq-listed Open Lending and Zix, Sysnet Global Solutions, Transflo and LeadVenture.

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