Top Tier Capital closes on $1.2bn across Fund IX, third Velocity fund, separate accounts


Top Tier Capital Partners has hauled in close to $1.2bn across a pair of new funds and several separate accounts.

That total is double the $600m Top Tier filed to raise in 2019 for its latest flagship VC fund of funds vehicle, Fund IX, and third Velocity fund targeting secondaries and co-investment deals.

The firm targets niche-focused funds of funds and high-growth, expansion-stage software and technology startups across the globe.

Top Tier’s latest raises come 10 years after the firm spun out of Paul Capital Investments.

The firm’s portfolio of more than 350 fund interests includes investments in big name Silicon Valley firms such as Andreessen Horowitz, Mayfield Fund, True Ventures, and Accomplice, and direct and indirect exposure to more than 9500 portfolio companies spanning biotech, SaaS software, and frontier technologies.

The latest raise brings Top Tier’s total capital under management to more than $7.5bn.

Firm managing director David York said, “We focus on delivering not only consistent capital investment, but also direct support to our portfolios’ positions.

“Our insight and perspective into the innovation economy are fueled by more than two decades of carefully curated data.

“Through that considerable insight, we are able to offer our investors unique access to a select group of top-tier managers across the globe.”

The firm’s Velocity strategy combines co-investments and secondaries with niche-focused funds of funds.

Velocity team lead and firm senior managing director Garth Timoll said, “The goal is to deploy friendly capital to both funds and companies.

“We’ve been doing direct secondary and co-investment deals for more than a decade now, and we’re very proud of our track record and returns.

“With our extensive experience and comprehensive data, we’ve proven ourselves as a go-to fund for capital in later rounds.”

Last year Top Tier’s portfolio saw 36 IPOs and returned more than $800m to investors.

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