HarbourVest Partners beats $2bn target for Fund XI close


HarbourVest Partners has raised $2.1bn of capital commitments for the final close of its latest flagship US investment vehicle, HarbourVest Fund XI.

The fund will focus on buyout, micro buyout, growth equity, and venture capital deals in North America.

The firm has already been deploying capital from the fund since last year and has committed around 65 per cent of the capital so far.

“We continue to see strong demand for primary partnership funds, especially among US investors that are new to private markets, and global investors seeking exposure to North American assets,” said HarbourVest managing director John Toomey.

“HarbourVest’s access to attractive managers, combined with our more than 35 years of portfolio construction experience and expertise, provides our investors with fully diversified, comprehensive fund portfolios that help meet their return objectives.”

HarbourVest has more than $63bn in assets under management.

Last year the firm smashed the target of its fifth direct co-investment fund to close on a $3bn hard cap.

HarbourVest also recently pulled in C$300m ($227.9m) for the final close of its government backed-venture capital vehicle, HarbourVest Canada Growth Fund II.

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