Valor Equity Partners has raised $1.05bn for the final close of its fourth buyout fund bringing its total capital under management to over $2bn.
The growth-focused PE firm will use the funding to make control and non-control investments between $25m to $75m primarily in the consumer, engineered products, and services sectors.
Valor had initially targeted $750m for the oversubscribed vehicle, but had to increase the hard cap to accommodate the large amount of capital commitments. FinTech Global’s sister site AltAssets reported in April last year, that the firm had also secured up to $75m of commitments for the vehicle from the New York State Teachers’ Retirement System.
Valor closed its third fund on a $490m hard cap, after all of the previous fund’s institutional, pension and large family office clients re-upped.
Valor’s founder and managing partner Antonio J. Gracias said, “We are extremely grateful for the support we continue to receive from our existing investors, many of whom have invested with us over multiple funds, and welcome a new group of U.S. and international limited partners to Fund IV.
“We have had the privilege to partner with a broad range of companies, helping them scale and accelerate their growth. Fund IV positions Valor to continue to pursue this strategy.”
The firm has made several investments into the FinTech space over the past year. Most recently, the firm took part in the $28m round of blockchain technology developer Harbor. The company, which closed the round in April, aims to evolve the private securities space by using blockchain technology to tokenise securities backed by real-world assets like real estate.
Other companies in the firm’s portfolio include cyber insurance platform Coalition, financial operating system Addepar and cryptocurrency wallet BitGo.
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