Financial Services & Fintech

6DC III is the third closed-end fund of 6 Degrees Capital, an early-stage venture capital firm with offices in London and Antwerp founded in 2023. Led by Managing Partner Wouter Volckaert alongside Partners Thibault D'hondt and Lucas Stoops, 6 Degrees Capital has built a reputation for conviction-led underwriting of unconventional founding teams building category-defining companies. The fund reached a final close at €154 million in November 2025, meeting its stated hard cap and attracting backing from a pan-European LP base comprising fund-of-funds, sovereign wealth funds, financial institutions, family offices, and high-net-worth individuals. Across its three fund vintages, 6 Degrees Capital has partnered with over 70 companies. 6DC III pursues seed and Series A investments across three core verticals: enterprise software, artificial intelligence, and fintech. The fund is designed to lead investment rounds with initial tickets ranging from €1 million to €5 million, with follow-on reserves of up to €15 million per portfolio company. 6 Degrees Capital's investment philosophy centres on backing founders who possess genuine insights that are non-obvious to the broader market, prioritising intellectual depth and product resilience over conventional traction metrics at the earliest stages. The fund's geographic mandate spans the European startup ecosystem, with the London and Belgian markets as core sourcing bases. Since its first close, 6DC III has deployed capital into an initial cohort of portfolio companies including Conveo, FlatPeak, Spruce, Luca, and Artificial, establishing a track record consistent with the fund's seed-stage mandate. 6 Degrees Capital's earlier funds produced investments spanning fintech infrastructure, AI tooling, and enterprise platforms, and the team brings operational expertise in early-stage company building alongside capital. The firm's position as a conviction-led lead investor across Europe positions 6DC III to back the next generation of category-defining businesses emerging from the continent's increasingly mature startup ecosystem.

AAIC Africa Healthcare Fund (AHF1) is a venture capital fund managed by AAIC Investment Pte. Ltd., the Singapore-headquartered fund management arm of AAIC Holdings (Asia Africa Investment & Consulting). Established in 2017, AHF1 was the first Africa-focused Japanese institutional investment fund, created to bridge Japanese capital with high-growth startup opportunities across sub-Saharan and North Africa. The fund targets technology-driven companies addressing healthcare, financial inclusion, and social infrastructure challenges in rapidly urbanizing African markets. AHF1 focuses on innovation-led startups operating at the intersection of healthcare, financial services, and logistics across Africa's most dynamic ecosystems—primarily Kenya, Nigeria, South Africa, and Egypt. The fund makes equity investments in early- to growth-stage companies and seeks to support portfolio companies with both capital and AAIC's network of Japanese strategic partners and co-investors. Investments target companies typically at the Series A stage with the potential to scale across the continent. AHF1 reached a final close of approximately USD 47 million and has invested in more than 30 startups since its inception. Among its most notable portfolio companies is Chipper Cash, a pan-African fintech platform that achieved unicorn status (USD 1 billion+ valuation) in 2021, alongside a portfolio of digital health, telemedicine, and pharmacy modernization companies. The fund's successor vehicle, Africa Innovation & Healthcare Fund (AHF2), launched in 2022 with a target of USD 150 million, building on AHF1's track record of supporting scalable African technology companies.

The Africa Innovation and Healthcare Fund 1 (AHF-1) is a venture capital and impact fund managed by AAIC Investment, a Japan-based investment manager dedicated to advancing healthcare and innovation across the African continent. Launched in 2017 as Japan's first fund with an exclusive focus on the African healthcare sector, AHF-1 represents a pioneering effort to channel institutional capital from Japanese financial institutions and corporations into high-growth, mission-driven businesses across Sub-Saharan Africa. AHF-1 targets early- to late-stage companies operating across the full spectrum of healthcare and adjacent verticals, including clinical care, medical services, digital health, health technology, pharmaceutical distribution, insurance, diagnostics, and health-enabling infrastructure such as fintech and mobility. The fund takes equity positions and provides hands-on operational and strategic support to portfolio companies through AAIC's deep local networks in Kenya, Nigeria, Egypt, Rwanda, and other key African markets. The investment thesis centers on the belief that healthcare companies in Africa can achieve strong financial returns while addressing acute social challenges in underserved markets. AHF-1 reached a final close at USD 47 million and deployed capital across more than 30 startups and established companies, establishing AAIC Investment as one of the leading Japan-Africa impact investors in the private markets space. The fund's success laid the foundation for the Africa Innovation and Healthcare Fund 2 (AHF-2), launched in 2022 with a USD 150 million target, continuing to scale the manager's pan-African healthcare investment franchise. AAIC Holdings Pte. Ltd., headquartered in Singapore, serves as the parent organization with regional operations across Africa and Asia.

The Africa Innovation and Healthcare Fund 2 (AHF-2), managed by AAIC Investment, is the second vintage of Japan's leading Africa-focused healthcare and innovation fund series. Launched in April 2022, AHF-2 builds on the model established by AHF-1 (2017, final close USD 47 million) and targets a broader mandate spanning healthcare technology, digital health, fintech, and mobility companies driving sustainable growth across the African continent. AHF-2 has a target size of USD 150 million and reached its first close at the end of March 2022, attracting Japanese institutional investors and corporations as limited partners. Key investors include the Development Bank of Japan (DBJ), QR Investment (Hokkoku Financial Holdings Group), TOPPAN Holdings, and Marubeni Corporation, reflecting strong interest from Japan's corporate sector in gaining strategic exposure to Africa's high-growth technology and healthcare ecosystem. By October 2023, the combined capital committed across AHF-1 and AHF-2 stood at USD 87 million (approximately JPY 13 billion), with the fund continuing to accept subscriptions toward its USD 150 million target. As of the second close in September 2023, AAIC Investment had deployed capital across 45 portfolio companies through both funds, spanning diagnostics, pharmaceuticals, insurance, digital health platforms, and health-enabling fintech across Kenya, Nigeria, Egypt, South Africa, and Rwanda. AAIC Investment, headquartered in Singapore through parent AAIC Holdings Pte. Ltd., brings over a decade of on-the-ground Africa experience combined with access to Japanese capital, technology, and corporate partnerships, positioning AHF-2 as a distinctive bridge fund between Japanese institutional capital and African innovation ecosystems.

The Africa Innovation and Healthcare Fund 2 (AHF-2), managed by AAIC Investment, is the second vintage of Japan's leading Africa-focused healthcare and innovation fund series. Launched in April 2022, AHF-2 builds on the model established by AHF-1 (2017, final close USD 47 million) and targets a broader mandate spanning healthcare technology, digital health, fintech, and mobility companies driving sustainable growth across the African continent. AHF-2 has a target size of USD 150 million and reached its first close at the end of March 2022, attracting Japanese institutional investors and corporations as limited partners. Key investors include the Development Bank of Japan (DBJ), QR Investment (Hokkoku Financial Holdings Group), TOPPAN Holdings, and Marubeni Corporation, reflecting strong interest from Japan's corporate sector in gaining strategic exposure to Africa's high-growth technology and healthcare ecosystem. By October 2023, the combined capital committed across AHF-1 and AHF-2 stood at USD 87 million (approximately JPY 13 billion), with the fund continuing to accept subscriptions toward its USD 150 million target. As of the second close in September 2023, AAIC Investment had deployed capital across 45 portfolio companies through both funds, spanning diagnostics, pharmaceuticals, insurance, digital health platforms, and health-enabling fintech across Kenya, Nigeria, Egypt, South Africa, and Rwanda. AAIC Investment, headquartered in Singapore through parent AAIC Holdings Pte. Ltd., brings over a decade of on-the-ground Africa experience combined with access to Japanese capital, technology, and corporate partnerships, positioning AHF-2 as a distinctive bridge fund between Japanese institutional capital and African innovation ecosystems.

The Africa Innovation and Healthcare Fund 2 (AHF-2), managed by AAIC Investment, is the second vintage of Japan's leading Africa-focused healthcare and innovation fund series. Launched in April 2022, AHF-2 builds on the model established by AHF-1 (2017, final close USD 47 million) and targets a broader mandate spanning healthcare technology, digital health, fintech, and mobility companies driving sustainable growth across the African continent. AHF-2 has a target size of USD 150 million and reached its first close at the end of March 2022, attracting Japanese institutional investors and corporations as limited partners. Key investors include the Development Bank of Japan (DBJ), QR Investment (Hokkoku Financial Holdings Group), TOPPAN Holdings, and Marubeni Corporation, reflecting strong interest from Japan's corporate sector in gaining strategic exposure to Africa's high-growth technology and healthcare ecosystem. By October 2023, the combined capital committed across AHF-1 and AHF-2 stood at USD 87 million (approximately JPY 13 billion), with the fund continuing to accept subscriptions toward its USD 150 million target. As of the second close in September 2023, AAIC Investment had deployed capital across 45 portfolio companies through both funds, spanning diagnostics, pharmaceuticals, insurance, digital health platforms, and health-enabling fintech across Kenya, Nigeria, Egypt, South Africa, and Rwanda. AAIC Investment, headquartered in Singapore through parent AAIC Holdings Pte. Ltd., brings over a decade of on-the-ground Africa experience combined with access to Japanese capital, technology, and corporate partnerships, positioning AHF-2 as a distinctive bridge fund between Japanese institutional capital and African innovation ecosystems.

The Africa Innovation and Healthcare Fund 2 (AHF-2), managed by AAIC Investment, is the second vintage of Japan's leading Africa-focused healthcare and innovation fund series. Launched in April 2022, AHF-2 builds on the model established by AHF-1 (2017, final close USD 47 million) and targets a broader mandate spanning healthcare technology, digital health, fintech, and mobility companies driving sustainable growth across the African continent. AHF-2 has a target size of USD 150 million and reached its first close at the end of March 2022, attracting Japanese institutional investors and corporations as limited partners. Key investors include the Development Bank of Japan (DBJ), QR Investment (Hokkoku Financial Holdings Group), TOPPAN Holdings, and Marubeni Corporation, reflecting strong interest from Japan's corporate sector in gaining strategic exposure to Africa's high-growth technology and healthcare ecosystem. By October 2023, the combined capital committed across AHF-1 and AHF-2 stood at USD 87 million (approximately JPY 13 billion), with the fund continuing to accept subscriptions toward its USD 150 million target. As of the second close in September 2023, AAIC Investment had deployed capital across 45 portfolio companies through both funds, spanning diagnostics, pharmaceuticals, insurance, digital health platforms, and health-enabling fintech across Kenya, Nigeria, Egypt, South Africa, and Rwanda. AAIC Investment, headquartered in Singapore through parent AAIC Holdings Pte. Ltd., brings over a decade of on-the-ground Africa experience combined with access to Japanese capital, technology, and corporate partnerships, positioning AHF-2 as a distinctive bridge fund between Japanese institutional capital and African innovation ecosystems.

ABC Impact Fund II is the second flagship private equity fund managed by ABC Impact, a Singapore-based investment firm focused on generating measurable social and environmental impact across Asia. Launched in August 2023, the fund achieved a final close in April 2025, raising over USD 600 million—doubling the size of its predecessor. The fund secured commitments from a diverse group of global and regional investors, including Temasek, Temasek Trust, the Asian Development Bank (ADB), Mapletree Investments, SeaTown Holdings, a Southeast Asian sovereign wealth fund, a U.S. family office, and various ultra-high-net-worth individuals. The fund targets four key sectors: clean energy and climate resilience, inclusive finance and digital access, healthcare and education, and sustainable food systems. It provides growth capital to innovative, commercially viable companies that contribute to achieving the United Nations Sustainable Development Goals (SDGs). Representative investments include Aye Finance in India, Tekoma Energy in Japan, and DCDC Kidney Care, a leading dialysis provider serving underserved populations in India. ABC Impact implements a disciplined impact measurement and management framework, aligned with international standards such as the Principles for Responsible Investment and the Operating Principles for Impact Management. With total assets under management exceeding USD 900 million, the firm continues to scale private capital solutions that support a more inclusive and sustainable future for Asia.

ABRY Heritage Partners II is the second fund in ABRY Partners' Heritage strategy, a dedicated lower middle market private equity vehicle managed by ABRY Partners, a Boston-based sector-focused buyout firm with over $17 billion in total capital under management across four investment strategies since its founding in 1989. The fund raised $605 million in committed capital, confirmed by SEC Form D filing in September 2021, making it a mid-sized lower middle market buyout vehicle targeting founder-led and family-owned businesses not previously backed by institutional capital. The Heritage strategy was launched in 2016 to focus specifically on the lower end of the middle market — businesses with enterprise values between $20 million and $150 million — where ABRY applies its sector expertise and operational network to drive operational improvement and M&A consolidation. ABRY Heritage Partners II invests across ABRY's core verticals: media, communications, information services, business services, financial services, insurance, accounting, and technology-enabled services. Equity check sizes range from $20 million to $60 million per platform investment, with an emphasis on building multi-company platforms through bolt-on acquisitions in fragmented industries where management teams with sector expertise can consolidate market share. The long-hold philosophy and hands-on operational approach distinguish Heritage II from traditional buy-and-flip buyout strategies. With a 2021 vintage, ABRY Heritage Partners II is actively investing and expanding its portfolio, which included 17 active companies as of the fund's mid-deployment period. ABRY Partners' broader track record spans 35+ years and more than 450 completed transactions across its buyout platform, giving Heritage II access to deep sector relationships, a proprietary deal origination network, and an established reputation among lower middle market management teams and founder-owners seeking a value-added institutional partner. The Heritage II LP base comprises institutional investors including pension funds, endowments, and family offices attracted to ABRY's differentiated access to the underserved lower middle market segment.

Amwal Capital Partners has introduced the ACP Shariah Financing Fund, a $150 million private credit vehicle designed to offer Shariah-compliant financing solutions to small and medium-sized enterprises (SMEs) within the Gulf Cooperation Council (GCC) region. This initiative aims to bridge the significant $250 billion SME credit gap by providing ethical, asset-backed capital to businesses that are often underserved by traditional banking institutions. The fund's strategy emphasizes direct lending to emerging companies, particularly those with tech-enabled platforms requiring flexible financing structures. Over its five-year term, the fund plans to execute 12 to 15 transactions, focusing on sectors such as logistics, vehicle leasing, and FinTech. Initial investments include ventures in the tourism and agricultural food trade industries, reflecting the fund's commitment to supporting sectors vital to regional economic growth. By adhering strictly to Islamic finance principles, the ACP Shariah Financing Fund ensures that all investments are structured to avoid interest-based income and excessive uncertainty, aligning with ethical investment practices. This approach not only meets the growing demand for Shariah-compliant financial products but also offers investors exposure to high-yield opportunities uncorrelated with public markets.

AI Fund is a venture studio founded by Andrew Ng — co-founder of Google Brain, former Chief Scientist at Baidu, and a pioneering figure in applied artificial intelligence — dedicated to accelerating the adoption of AI by co-founding transformative companies from the ground up. The studio has raised over $365 million across two vehicles: an inaugural $175 million fund launched in 2018 and AI Venture Fund II, an oversubscribed $190 million fund that reached its final close in May 2025. Backed by a combination of leading venture capital institutions and strategic corporate investors, AI Fund has established a differentiated position as one of the world's most active AI-focused company builders. Unlike conventional venture capital, AI Fund does not write checks into existing companies: it partners with entrepreneurs at the ideation stage to co-found businesses alongside them, contributing deep AI research expertise, market validation support, engineering teams, talent acquisition, and access to a global network of corporate partners. The studio focuses on the application and software infrastructure layers of the AI stack, leveraging large language models and agentic AI to create new businesses across financial services, renewable energy, future of work, education, logistics, healthcare, and developer tools. AI Venture Fund II attracted a notable LP base of strategic corporate investors including The AES Corporation, HP Inc., Mitsui & Co., Mitsubishi Corporation, QBE, and TELUS Global Ventures, alongside venture institutions Sequoia Capital and NEA. Since inception, AI Fund has co-founded approximately 35 portfolio companies across multiple verticals. Notable ventures include Gaia Dynamics, which provides real-time tariff compliance intelligence for businesses navigating complex trade environments; SkyFire AI, a platform enabling AI-powered drone deployment for first responders and enterprise customers; and Profitmind, an automated competitive pricing tool that enables retailers to optimise product margins at scale. The studio's systematic approach to addressing early-stage company-building challenges — from product-market fit validation to technical architecture to go-to-market strategy — has enabled portfolio companies to reach commercial traction significantly faster than typical venture-backed startup timelines.

The AWP Diversity Fund II LP is a private equity fund introduced by Alternative Wealth Partners (AWP) with a target of $150 million. The fund will primarily invest in Energy, Manufacturing, Real Estate and Infrastructure projects, aimed at providing investors with diversification, favorable tax advantages, and attractive yields. The fund will invest directly into various businesses and properties within these sectors with potential to deliver cash flow and equity returns within 5-7 years. AWP believes in a diversified portfolio strategy and will prioritize investments in strong, resilient, domestically-rooted businesses and properties that have the potential to triple the initial investment. The fund also aims to leverage tax incentives projected to add 10-30% to the overall return of the portfolio. Managed by Kelly Ann Winget, CEO & Founder of AWP, the fund aims to acquire strong, resilient businesses and properties across diverse industries at a discount, due to market volatility and geopolitical unrest. AWP has identified multiple opportunities and entity structures to enhance the scalability of its current portfolio and plans to participate in both existing and new opportunities as they emerge. The 2024 project pipeline for the Fund includes investments in several US-based companies and infrastructure projects, such as a Texas-based kinetics company, an Arizona-based battery tech company, and a Nebraska-based equipment company, each with a projected 500% ROI. The fund is aimed at providing investors with exposure to the alternative investment space and is designed to meet the needs of diverse individuals, executive professionals, and entrepreneurs through non-correlated investment opportunities that have typically been gate-kept from individual investors.

Abry Partners' inaugural collateralized loan obligation (CLO) and first transaction in their Abry Liquid Credit platform launched in August 2025. The fund priced $400 million in issuances and is the first in a programmatic CLO program expected to issue two to three transactions annually, overseen by Mike Ferrante (Head of Abry Liquid Credit).

Abry Partners' second collateralized loan obligation (CLO), priced at $400 million in November 2025, bringing the firm's CLO platform to $800 million across two transactions. The deal attracted 20 unique investors including 15 new to Abry's platform, part of a programmatic issuance strategy targeting 2–3 CLOs annually.

The Accion Digital Transformation Fund (ADTx) is a $152.5 million fund launched by Accion Impact Management to support financial institutions in better meeting the needs of small businesses excluded from the financial system. The fund will focus on companies serving micro, small, and medium enterprises across South and Southeast Asia, Latin America, and Africa. Investments from the fund will include equity and quasi-equity investments, along with hands-on strategic support to drive digital transformation. The goal is to expand responsible service options for small businesses globally by leveraging Accion's expertise in digital finance. Initial investments include companies in India, with up to 12 total investments expected. Limited partners in the fund include British International Investment (BII), FMO, IDB Invest, IFC, Mastercard, OeEB, and Swedfund. The fund's mission is to connect millions more small businesses to the digital economy, providing affordable financial services to help reduce poverty and create opportunities for those underserved by the financial system. The Accion Digital Transformation Fund aims to drive the digital transformation agenda of finance companies by providing capital, strategic support, and shareholder engagement. The fund's commitment is reflected in the involvement of high-caliber limited partners who are dedicated to bringing affordable, high-quality financial services to small businesses globally.

Adams Street Partners' inaugural public collateralized loan obligation (CLO) comprising approximately $350 million in primarily first lien senior secured middle market loans originated by Adams Street's private credit platform. Closed January 2026 with a four-year reinvestment period and Goldman Sachs as sole bookrunner.

Adenia Capital (IV) is a sub-Saharan Africa-focused private equity fund managed by Adenia Partners, one of the continent's most established mid-market private equity firms. Founded in 2002 and headquartered in Mauritius, Adenia Partners has built a two-decade track record of supporting the growth of medium-sized profitable companies across Africa through a blend of growth capital and buyout transactions. The fund closed in May 2017 at its hard cap of EUR 230 million, exceeding its initial EUR 200 million target and attracting strong interest from international development finance institutions, pension funds, funds of funds, family offices, and high-net-worth individuals. The European Investment Bank committed EUR 20 million to the vehicle. Adenia Capital (IV) targets equity investments in companies generating annual revenues between USD 5 million and USD 40 million, operating across consumer goods, business services, manufacturing, financial services, information and communications technology, telecommunications, hospitality, and healthcare sectors. As the fourth generation of Adenia's consecutive flagship fund series — following Adenia Capital I (2002), II (2006), and III (2012) — the fund reflects the firm's established strategy of acquiring majority and significant minority stakes to professionalize management, drive operational improvements, and unlock value in underserved African markets. Adenia Capital (IV) has been succeeded by Adenia Capital (V) LP, which closed oversubscribed at USD 470 million in April 2024, underscoring the firm's continued momentum in African private equity.

Adenia Capital (V) LP is a closed-end private equity fund managed by Adenia Partners Ltd, a pan-African investment firm with seven offices across the continent and a 20-year track record of mid-market private equity in Africa. The fund marks a significant milestone in Adenia's history as the firm's first fully pan-African vehicle, expanding beyond its historic focus on select sub-Saharan markets to invest across the entire African continent. Fundraising launched in early 2022 and reached a first close of USD 300 million in January 2023, exceeding 75% of the USD 400 million initial target. The fund closed on April 4, 2024 at its hard cap of USD 470 million, significantly oversubscribed. Adenia Capital (V) LP targets between 10 and 12 control investments in medium-sized companies with proven business models, with a median deal size of USD 30-50 million. The fund integrates ESG criteria and has been designated a 2X Flagship Fund for its commitment to gender equality, and commits to setting carbon reduction targets for all portfolio companies over their investment lifecycle. The fund attracted a diverse consortium of development finance institutions and institutional investors, including the European Investment Bank (EIB), FMO, Proparco, Norfund, FinDev Canada, the US International Development Finance Corporation (DFC), the South African Public Investment Corporation (PIC), and pension funds from Kenya and Ghana. Target sectors include financial services, agribusiness, renewable energy, consumer goods, telecommunications, healthcare, education, business services, light manufacturing, and specialty distribution.

Adenia Capital (V) LP is a closed-end private equity fund managed by Adenia Partners Ltd, a pan-African investment firm with seven offices across the continent and a 20-year track record of mid-market private equity in Africa. The fund marks a significant milestone in Adenia's history as the firm's first fully pan-African vehicle, expanding beyond its historic focus on select sub-Saharan markets to invest across the entire African continent. Fundraising launched in early 2022 and reached a first close of USD 300 million in January 2023, exceeding 75% of the USD 400 million initial target. The fund closed on April 4, 2024 at its hard cap of USD 470 million, significantly oversubscribed. Adenia Capital (V) LP targets between 10 and 12 control investments in medium-sized companies with proven business models, with a median deal size of USD 30-50 million. The fund integrates ESG criteria and has been designated a 2X Flagship Fund for its commitment to gender equality, and commits to setting carbon reduction targets for all portfolio companies over their investment lifecycle. The fund attracted a diverse consortium of development finance institutions and institutional investors, including the European Investment Bank (EIB), FMO, Proparco, Norfund, FinDev Canada, the US International Development Finance Corporation (DFC), the South African Public Investment Corporation (PIC), and pension funds from Kenya and Ghana. Target sectors include financial services, agribusiness, renewable energy, consumer goods, telecommunications, healthcare, education, business services, light manufacturing, and specialty distribution.

Advent International GPE XI is the eleventh flagship global private equity fund from Advent International, a leading global private equity firm. The fund is targeting $26 billion in commitments, surpassing its predecessor GPE X, which closed at $25 billion in 2022. GPE XI continues Advent's strategy of investing in control buyouts of companies across various sectors and geographies. The fund focuses on five core sectors: business and financial services, healthcare, industrial, consumer, and technology. Advent seeks to partner with management teams to drive revenue growth, operational improvements, and strategic expansion. The firm's approach involves identifying companies with strong potential and working closely with them to achieve sustainable growth. Geographically, GPE XI aims to invest primarily in North America and Europe, while also exploring opportunities in Asia and Latin America. Advent's global presence and local expertise enable it to identify and capitalize on investment opportunities across diverse markets.

Advent Latin American Private Equity Fund VII (LAPEF VII) is the seventh dedicated Latin American fund raised by Advent International, one of the most active and longest-tenured private equity investors in the region. Closed on 29 September 2020 with USD 2 billion in commitments from institutional investors across the globe, LAPEF VII represents Advent's largest dedicated Latin American vehicle and brings the firm's total capital raised for the region since 1996 to approximately USD 8 billion — more than any other private equity manager operating in Latin America. The fund deploys capital primarily in Brazil, Colombia, Mexico, and Peru, with the flexibility to invest opportunistically in adjacent markets including Argentina and Chile. LAPEF VII targets control-oriented investments across five core sectors: business and financial services, healthcare, industrials, retail and consumer, and technology. Deal structures span buyouts, corporate carve-outs, and growth equity transactions, with equity investments ranging from USD 50 million to USD 300 million or more. This flexible, multi-stage mandate allows the fund to access opportunities across the full spectrum of company size and development stage in each target market. Advent International has operated in Latin America for over 25 years, with a permanent on-the-ground presence in São Paulo and Mexico City, and extensive networks across all five target countries. The firm's regional team combines deep local market knowledge with access to Advent's global platform of sector experts and portfolio company operating resources. Advent's six predecessor Latin American funds have delivered consistent returns to institutional limited partners including sovereign wealth funds, endowments, pension funds, and insurance companies from Europe, North America, and Asia.

AAIC Africa Healthcare Fund (AHF1) is a venture capital fund managed by AAIC Investment Pte. Ltd., the Singapore-headquartered fund management arm of AAIC Holdings (Asia Africa Investment & Consulting). Established in 2017, AHF1 was the first Africa-focused Japanese institutional investment fund, created to bridge Japanese capital with high-growth startup opportunities across sub-Saharan and North Africa. The fund targets technology-driven companies addressing healthcare, financial inclusion, and social infrastructure challenges in rapidly urbanizing African markets. AHF1 focuses on innovation-led startups operating at the intersection of healthcare, financial services, and logistics across Africa's most dynamic ecosystems—primarily Kenya, Nigeria, South Africa, and Egypt. The fund makes equity investments in early- to growth-stage companies and seeks to support portfolio companies with both capital and AAIC's network of Japanese strategic partners and co-investors. Investments target companies typically at the Series A stage with the potential to scale across the continent. AHF1 reached a final close of approximately USD 47 million and has invested in more than 30 startups since its inception. Among its most notable portfolio companies is Chipper Cash, a pan-African fintech platform that achieved unicorn status (USD 1 billion+ valuation) in 2021, alongside a portfolio of digital health, telemedicine, and pharmacy modernization companies. The fund's successor vehicle, Africa Innovation & Healthcare Fund (AHF2), launched in 2022 with a target of USD 150 million, building on AHF1's track record of supporting scalable African technology companies.

Allianz X is the corporate venture capital arm of Allianz Group, one of the world's largest global insurers and asset managers. Founded in 2013 and headquartered in Munich, Germany, Allianz X manages over €2 billion in assets under management, deploying high-conviction capital into growth-stage digital companies operating at the intersection of insurance, financial services, and technology. The fund operates across five continents, functioning as a strategic bridge between portfolio companies and the broader Allianz ecosystem — a network spanning more than 70 countries and serving over 125 million customers worldwide. Allianz X targets mature scale-ups at Series C and beyond, prioritizing companies in insurtech, fintech, embedded finance, cybersecurity, and digital wealth management. Beyond capital, portfolio companies gain access to Allianz's commercial distribution network, reinsurance partnerships, and operational expertise across its global operating entities. Investment structures range from minority growth-stage stakes to full strategic acquisitions, enabling the fund to support companies across multiple phases of growth. Allianz X also accepts third-party limited partners seeking exposure to digital financial services innovation. With over 26 active direct investments and more than 10 unicorns backed — including cyber insurer Coalition, Latin American neobank Ualá, digital bank WeLab (Hong Kong), Canadian fintech Wealthsimple, and US insurtech Coterie — Allianz X has built one of the most active corporate VC portfolios in the global insurance sector. The fund has completed more than 10 exits and 5 full acquisitions. Its most recent landmark transaction was co-leading the $350 million secondary investment in AI road safety platform Cambridge Mobile Telematics alongside TPG's The Rise Fund, announced in March 2026.

AlpInvest Co-Investment Fund IX (ACF IX) is the ninth iteration of AlpInvest Partners' flagship co-investment strategy. Managed by AlpInvest Partners, a subsidiary of The Carlyle Group, the fund focuses on providing investors with access to private equity buyouts by co-investing alongside leading private equity firms. ACF IX aims to capitalize on attractive investment opportunities in the mid-market segment, leveraging AlpInvest's extensive network and experience in the private equity space. The fund has successfully raised $4.1 billion, surpassing its predecessor's $3.5 billion close in 2021. ACF IX attracted commitments from 185 global investors, including pension funds, asset managers, and family offices. The fund's strategy involves investing in whole-company buyout transactions and equity stakes across various industry sectors worldwide. By focusing on mid-market deals, ACF IX seeks to achieve favorable entry valuations, often at 15% to 20% discounts compared to peak-period prices. AlpInvest's co-investment platform has a track record of over 400 equity co-investments, committing more than $19 billion over the past 25 years. The firm's approach emphasizes building long-term partnerships with top-tier private equity sponsors, enabling access to high-quality deal flow and efficient execution. ACF IX continues this tradition, aiming to deliver attractive risk-adjusted returns to its investors through a diversified portfolio of co-investments.

Amethis, the pan-African and MENA-focused private equity firm, completed the final close of Amethis MENA Fund II S.C.A., SICAV-RAIF on 31 August 2022, raising EUR 120 million in line with its target. The fund is the second vehicle in Amethis's MENA franchise and the firm's fifth fund in total, structured as a Luxembourg reserved alternative investment fund and classified as an Article 9 vehicle under SFDR. The LP base reflects Amethis's deep relationships with development finance institutions and impact-oriented investors: the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), Proparco/FISEA, the International Finance Corporation (IFC), Bpifrance, and British International Investment (BII), alongside qualified private investors representing more than 40% of total commitments. The fund focuses on fast-growing small-to-medium-sized enterprises in Morocco, Egypt, Tunisia, and Jordan, taking both majority and minority equity stakes with ticket sizes ranging from EUR 5 million to EUR 15 million per company. Amethis's investment thesis in the MENA region emphasises businesses benefiting from demographic tailwinds and the structural formalisation of SME sectors across North Africa and the Levant. Target sectors include manufacturing and agribusiness distribution, business services and technology, and financial services. The fund embeds a commitment to the 2X Challenge criteria for women's economic empowerment directly into investment selection and portfolio monitoring, making gender equality a core performance metric alongside financial returns. Early portfolio investments include Magriser, a leading micro-irrigation distribution company, and Tarjama, a language technology services platform — illustrating the fund's dual focus on economic inclusion and operational value creation in MENA's underserved SME segment. The fund's Article 9 classification and DFI-anchored LP base reflect Amethis's position as one of the most credible and experienced impact-oriented private equity managers in the Africa and MENA region, with total AUM approaching USD 1 billion across the full platform.

Angeles Ventures Fund I is an early-stage venture capital fund managed by Angeles Investors, a Chicago, Illinois-based investment platform founded to leverage the power of the Latino growth demographic to discover, fund, and scale technology-enabled startups led by Hispanic and Latinx founders in the United States. Launched in October 2023, the fund targets 20 to 30 seed-stage B2B and B2C technology companies, with check sizes ranging from USD 100,000 to USD 1 million or above. The fund's investment thesis is built on the structural opportunity represented by the US Latino community — the fastest-growing demographic in the US economy — and the persistent underfunding of Hispanic and Latinx-led ventures by institutional capital. Angeles Investors draws on a network of over 260 angel investors with more than 23 prior investments to source, diligence, and support founders. The fund invests alongside co-investors including Goodwater, Chingona, Launch (Jason Calacanis), Hyde Park Ventures, and Listen Ventures, providing portfolio companies with both capital and an extensive network of operators and advisors across technology and consumer sectors. As of May 2024, Angeles Ventures Fund I had closed an equity investment from Bank of America and deployed capital across multiple portfolio companies including Storybook, Linker Finance, Certiverse, and Sigo Seguros. The fund's general partners, Adela Cepeda and David Olivencia, bring decades of combined experience in finance, venture, and community development. Through the Angeles Investors angel network and its institutional fund structure, Angeles Ventures aims to become the defining early-stage capital platform for Hispanic and Latinx entrepreneurship in the United States, targeting sectors including enterprise SaaS, fintech, insurtech, and tech-enabled services.

Apax Digital Fund is the growth equity investment strategy of Apax Partners, one of the world's leading global private equity firms. Established in 2017 with the inaugural Apax Digital Fund raising USD 1.113 billion, the strategy targets minority and majority growth equity and growth buyout investments in high-growth enterprise technology and internet companies globally. A second vintage, Apax Digital Fund II, closed in 2023 at USD 1.957 billion, nearly doubling the capital raised under the digital franchise and affirming consistent institutional demand for the strategy. The Apax Digital investment approach focuses on enterprise software, internet, and technology-enabled services companies at the intersection of growth equity and growth buyout, with individual investments typically ranging from USD 30 million to USD 150 million. The strategy invests across the United States, Europe, and Israel, targeting businesses with strong recurring revenue profiles, proven product-market fit, and the potential to scale globally with the support of the Apax platform. Core sectors include enterprise SaaS, software B2B, and tech-enabled business services. Portfolio companies have included atHome Group, Petvisor, and Magaya, among others. The strategy is managed by the Apax Digital Growth team, a specialist investment unit within Apax Partners. The broader Apax Partners platform, founded in 1972 and headquartered in London, has raised and advised approximately USD 80 billion in aggregate funds as of 2024, investing across technology, healthcare, internet and consumer, and services sectors globally. Apax Digital Funds benefits from this institutional infrastructure, including the firm's sector expertise, global portfolio networks, and decades of experience scaling technology businesses from growth stage to market leadership.

Apollo Credit Secondaries Fund II is the second dedicated credit secondaries fund managed by Apollo Global Management, one of the world's largest alternative asset managers with more than $600 billion in total assets under management. Launched in early 2024 with a target of approximately $2 billion in capital commitments, the fund represents Apollo's continued buildout of its secondary investment capabilities across private credit markets, complementing the firm's flagship equity secondaries platform managed through the Apollo S3 Sponsor and Secondary Solutions program. The fund pursues secondary market acquisitions of performing and non-performing private credit assets, including senior secured loans, mezzanine debt, direct lending portfolios, broadly syndicated leveraged loans, and structured credit instruments. Apollo's credit secondaries strategy targets portfolios being divested by banks, insurance companies, business development companies, and institutional investors seeking liquidity or balance sheet optimization. The strategy benefits from Apollo's unique position at the intersection of origination and secondary activity — the firm's origination relationships provide market intelligence on portfolio quality and credit dynamics that generalist secondary buyers lack, while Apollo's scale enables the fund to pursue large, complex transactions that may deter smaller competitors. Apollo's first credit secondaries fund demonstrated the firm's ability to access proprietary secondary credit opportunities across the private markets spectrum. The broader Apollo credit franchise manages more than $500 billion in credit assets across performing, non-performing, and hybrid strategies, giving Fund II preferential access to deal flow and the analytical infrastructure to underwrite intricate structured credit portfolios. Fund II is part of Apollo's coordinated effort to build a comprehensive secondary solutions business spanning both equity and credit secondaries, alongside the Apollo S3 Equity and Hybrid Solutions Fund I, which closed at $5.4 billion in May 2025.

The Apollo S3 Equity & Hybrid Solutions Fund I (ASEHS) is a buyout fund managed by Apollo Global Management, headquartered in New York, NY. The fund is part of Apollo's Sponsor and Secondary Solutions (S3) platform, which provides flexible capital solutions across the yield, hybrid, and equity spectrum to asset managers and limited partners. ASEHS focuses on acquiring secondary interests in private equity funds and providing liquidity solutions to general partners and limited partners. The fund aims to capitalize on the growing demand for liquidity in the private markets by offering innovative financing options, including net asset value (NAV) loans and structured equity solutions.​ With a fund size of $5.4 billion, ASEHS seeks to deliver attractive risk-adjusted returns by investing in a diversified portfolio of secondary transactions. The fund leverages Apollo's extensive network and expertise in private equity, credit, and real assets to identify and execute complex deals. By providing tailored liquidity solutions, ASEHS supports the evolving needs of private market participants and contributes to the overall efficiency and resilience of the alternative investment ecosystem.​ ASEHS targets a broad range of sectors through its investments in secondary interests of private equity funds. These sectors include, but are not limited to:​ - Technology - Healthcare - Consumer Goods - Industrial Manufacturing - Financial Services​ The fund's diversified approach allows it to capitalize on opportunities across various industries, depending on the underlying assets of the secondary interests acquired. ASEHS primarily focuses on investments in North America and Europe, reflecting the regions where Apollo has a strong presence and deep market knowledge. The fund may also consider opportunities in other developed markets, depending on the attractiveness of the secondary transactions and the quality of the underlying assets.​

The Aquiline Financial Services Continuation Fund L.P. is a GP-led secondary continuation vehicle managed by Aquiline Capital Partners, closed in June 2024 with approximately $1.1 billion in capital commitments. The vehicle was established to acquire select high-performing portfolio companies from Aquiline Financial Services Fund II L.P. and Aquiline Financial Services Fund III L.P., allowing Aquiline to extend its ownership of its most conviction-backed assets while providing existing investors with a structured exit option. As a continuation fund, the vehicle is structured to extend the holding period of specific financial services portfolio companies in which Aquiline retains high conviction, enabling the manager to execute on identified value-creation initiatives without the time pressure imposed by primary fund lifecycle constraints. All limited partners in AFS II and AFS III were offered the option to roll their positions on status quo terms, reinvest into the continuation vehicle, or receive full cash liquidity — in line with established best practices for GP-led secondary transactions. HarbourVest Partners served as the sole lead investor, joined by StepStone, funds managed by Ares Management, and Commonfund's CF Private Equity business, with re-investment from existing limited partners providing additional validation of the portfolio quality. The Continuation Fund closed simultaneously with Aquiline Financial Services Fund V L.P., bringing combined new capital raised by Aquiline in 2024 to more than $3.4 billion — one of the largest simultaneous primary-plus-continuation fund closes for a single financial services-focused manager. The transaction reflects the growing institutional acceptance of GP-led secondaries as a tool for retaining top assets beyond traditional fund lifecycles and demonstrates broad confidence in Aquiline's portfolio management capabilities in the financial services sector.

Aquiline Financial Services Fund V L.P. (AFS V) is the fifth private equity fund managed by Aquiline Capital Partners, a New York-based firm specializing in financial services and financial technology investments. The fund completed its final close on June 6, 2024, with more than $2.3 billion in capital commitments, making it the largest fund in Aquiline's history and significantly exceeding the size of its predecessor. The close brings Aquiline's total assets under management to approximately $10.4 billion as of mid-2024. AFS V focuses on middle-market buyout and growth equity investments in companies operating across the financial services ecosystem, including insurance technology, banking infrastructure, wealth management platforms, payments, and specialty finance. Aquiline targets businesses positioned to benefit from the ongoing digitization of financial services, evolving regulatory frameworks, and the convergence of financial and technology industries. The fund draws on a seasoned LP base of financial institutions, sovereign wealth funds, public pension funds, and funds of funds, reflecting Aquiline's long-standing institutional relationships across North America, Europe, the Middle East, and Asia. Aquiline Capital Partners was founded in 2005 with the exclusive mandate of investing in financial services and related technology businesses — a differentiated positioning that has enabled the firm to build deep sector expertise, proprietary deal flow, and a network of operating partners across the industry. AFS V was raised concurrently with the Aquiline Financial Services Continuation Fund L.P., a GP-led secondary vehicle that brought combined new capital raised by Aquiline in 2024 to more than $3.4 billion, demonstrating the firm's ability to execute complex multi-vehicle capitalizations while sustaining broad LP support.

Ares SSG Capital Partners VI, L.P. is a credit special situations fund focused on Asia Pacific private markets, managed by Ares SSG Capital Management, the Hong Kong-based Asia credit platform of Ares Management Corporation. The fund held its final close in November 2023 with total commitments of $2.4 billion across the fund and co-investment vehicles, marking one of the largest dedicated Asia credit special situations fundraises in recent years and substantially exceeding its predecessor fund, Ares SSG Capital Partners V, which raised $1.7 billion. The fund employs a flexible, opportunistic credit strategy targeting non-performing loans (NPLs), distressed single-asset situations, and performing private credit opportunities across key Southeast and South Asian markets—including India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Ares SSG's approach targets credit investments with strong downside protection and equity-like return potential, bridging a critical capital gap for large performing businesses underserved by the region's structurally inefficient banking systems and shallow public capital markets. The strategy focuses on private, bespoke credit solutions that provide scale and certainty to borrowers who cannot access international syndicated markets efficiently. Ares Management acquired a controlling interest in SSG Capital Holdings Limited in 2020, rebranding it as Ares SSG Capital Management and integrating it as the firm's flagship Asia credit platform. With a pan-Asian team footprint spanning Hong Kong, Singapore, Mumbai, and other major financial centres, Ares SSG maintains deep local sourcing capabilities and on-the-ground due diligence capacity across the region. The seventh vintage fund in the Ares SSG series raised an additional $400 million in fresh capital in 2025, reflecting sustained investor appetite for Asia credit special situations and validation of the strategy's performance across market cycles. Ares Management Corporation manages over $406 billion in credit assets globally, providing Ares SSG with world-class institutional resources and access to cross-platform expertise.

The Arini Direct Lending Fund is a private credit vehicle managed by Arini Capital Management, a London-based alternative credit manager founded by senior portfolio managers formerly associated with Sculptor Capital Management. The fund targets the European middle market through non-sponsored direct lending, providing senior and junior debt to mid-sized companies that fall outside the conventional sponsored finance ecosystem—a segment where competition from larger credit platforms is less intense and return premiums remain attractive. In June 2025, the fund reached a first close anchored by a $200 million commitment from British Columbia Investment Management Corporation (BCI), one of Canada's largest pension managers. In November 2025, the fund achieved a second close at $2.3 billion, reflecting substantial institutional demand from global investors seeking exposure to European private credit. Arini has partnered with Lazard Inc. under a cooperation and sourcing agreement focused on EMEA private credit, providing the fund with differentiated deal flow origination capabilities across Western European middle markets. The investment strategy emphasizes portfolio diversification across senior and junior debt instruments, targeting mid-cap borrowers with resilient cash flows, defensive business models, and limited refinancing risk. Arini positions the fund as a complementary alternative to bank lending and broadly syndicated loans, seeking superior risk-adjusted returns in the less crowded segment of the European direct lending market. The fund's institutional LP base and Lazard sourcing partnership underline its differentiated market positioning in the competitive European credit landscape.

Aruwa Capital Fund II is a gender-lens, early-growth equity fund managed by Aruwa Capital Management, a Lagos-based, female-founded and led private investment firm. The fund seeks to empower underrepresented founders and address funding gaps for growth-stage companies in West Africa, especially those creating scalable solutions in essential sectors. Building on the success of its inaugural fund, Aruwa Capital Fund II targets high-impact businesses that generate both financial returns and measurable social value. The fund focuses particularly on companies that promote inclusive economic development and improve livelihoods, with a strong emphasis on enhancing opportunities for women as business owners, consumers, and employees. The fund has already backed two companies—Yikodeen, a safety boots manufacturer, and a fast-casual restaurant chain—selected for their alignment with Aruwa’s mission of inclusive growth and economic empowerment. With strong investor demand, Aruwa is considering increasing the fund’s hard cap from its original $40M target to $50M or even $60M.

The Avendus Future Leaders Fund III is seeking to raise about $300 million for its private equity unit, with plans to write larger checks more frequently. The firm's third private equity fund aims to target growth-stage startups, as evidenced by its previous work with companies like Zepto, Lenskart, Xpressbees, CaratLane, and Atomberg. This represents a shift from its earlier fund sizes, with its second fund totaling around $185 million and its maiden fund at $50 million in size. Target sectors include information technology, insurance, food product, apparel, accessory, asset management and fintech sectors. The fund is designed to create value for its investors by investing opportunistically in ‘best of breed’ late stage private companies. The fund pursues a unique and differentiated strategy by focusing primarily on opportunistic situations for investment. The Fund is indifferent between primary and secondary investments and offers a quick turnaround to companies/ entrepreneurs. Investment Size: USD 10-30 million per transaction, minority stake.

Axeleo Capital 2 (AXC2) is the second early-stage venture capital fund managed by Axeleo Capital, an independent French venture capital firm founded in Lyon and specializing in B2B software and enterprise technology. AXC2 succeeds Axeleo Capital 1 (AXC1), the firm's inaugural fund, and continues Axeleo's core thesis of backing next-generation enterprise technology founders from seed stage through Series B, providing both capital and operational support to scale companies internationally. The fund focuses exclusively on B2B technology, investing in startups developing solutions in cybersecurity, enterprise SaaS, B2B fintech, artificial intelligence, blockchain-enabled applications, and advanced data platforms. Axeleo Capital's investment thesis centers on identifying early-stage founders with deep technical expertise building enterprise-grade products capable of capturing durable positions in large B2B software markets. AXC2 targets approximately 30 portfolio companies with initial tickets of up to EUR 5 million per investment, with reserved capital for follow-on participation through Series A and Series B rounds. The fund allocates approximately 70% of capital to French startups and 30% to broader European companies, positioning Axeleo as a leading firm in the Lyon and French enterprise tech ecosystem. AXC2 held a first close of EUR 50 million in September 2022, supported by more than 150 investors including Fonds National d'Amorçage 2 managed by Bpifrance. The fund achieved its final close of EUR 73 million in December 2023, with new institutional investors including Tikehau Capital, leading family offices, and founders from French unicorn companies joining over 95% returning investors from the predecessor AXC1 fund, demonstrating strong LP conviction in Axeleo Capital's early-stage B2B platform.

Axeleo Capital's second B2B tech fund with €73 million in committed capital targeting cybersecurity, B2B FinTech, SaaS, AI, cloud, and web3 startups. AXC2 makes initial seed investments of €0.2M–€2M in ~30 startups across France and Western Europe, with follow-on support up to €5M per company through Series A and B. Final close reached December 2023.

BPEA Private Equity Fund IX is the latest flagship fund from EQT Private Capital Asia, aiming to raise $12.5 billion, with a hard cap set at $14.5 billion. Launched in August 2024, the fund continues the strategy of its predecessor, BPEA VIII, focusing on control-oriented, large-cap buyouts across the Asia-Pacific region. The fund leverages EQT's pan-Asian coverage and bottom-up investment approach to identify value and sector trends across diverse markets. The fund targets investments in sectors benefiting from structural and secular tailwinds, including technology, services, healthcare, industrial services, and technology services. With a focus on scalable market leaders, BPEA IX aims to construct a diversified portfolio of 18 to 22 companies, each with strong growth potential and defensible market positions. BPEA IX plans to make 4 to 6 investments per year, with average equity investments of $300 million and targeting companies with enterprise values ranging from $500 million to $2 billion. The fund's strategy is designed to capitalize on favorable demographics, professionalization of under-managed assets, and corporate governance reforms across the region.

BSP Debt Fund IV CV is a private credit continuation vehicle managed by Benefit Street Partners (BSP), a leading global alternative credit asset manager with approximately 79 billion US dollars in assets under management and a wholly owned subsidiary of Franklin Templeton Investments. Closed in September 2025, the fund represents the largest single-fund private credit continuation vehicle in market history, providing a structured liquidity solution for limited partners of BSP Debt Fund IV while preserving ongoing exposure to the underlying direct lending portfolio. The vehicle was structured as a GP-led secondaries transaction led by Coller Capital's credit secondaries platform. The continuation vehicle maintains exposure to a diversified portfolio of senior secured, floating-rate loans to U.S. middle market companies, including both sponsor-backed and non-sponsor-backed first lien loans. BSP's direct lending platform targets the U.S. middle market, an underserved segment characterized by limited competition from large-cap lenders, providing financing solutions to companies with EBITDA typically between 10 million and 150 million US dollars. The GP-led continuation vehicle structure allows existing LPs to either roll their interests into the new vehicle or seek liquidity at the time of the transaction, representing the evolution of secondaries techniques from private equity into private credit asset classes. The 2.3 billion US dollar BSP Debt Fund IV CV was described by Coller Capital's Ed Goldstein, Partner and CIO of Coller Credit Secondaries, as 'another significant step in the evolution of the credit secondaries market.' BSP has operated its direct lending platform for over a decade, having closed multiple successive Debt Fund vintages with consistent performance across U.S. middle market credit cycles, maintaining its position as one of the most active and largest dedicated credit managers globally, with operations spanning North America, Europe, and Asia Pacific.

Bain Capital Asia Fund V is a 2023 vintage buyout fund managed by Bain Capital. The fund is located in Hong Kong and invests in Asia. Bain Capital's fifth Asia-focused fund has exceeded its initial target of $5 billion and has raised around $7.1 billion from global investors. The firm, which started fundraising in the second half of last year, aims to complete the exercise in the coming weeks. Bain Capital's new Asia fund will focus heavily on Japan, where it has landed marquee deals such as the $18 billion buyout of Toshiba Corp’s memory chip business.

Bain Capital Fund XIV marks the latest flagship private equity vehicle launched by Bain, achieving a successful raise of USD 14 billion, surpassing its initial USD 10 billion target. The fund is anchored by both external investors (USD 11.8 billion) and Bain‑affiliated entities, which retain a leading investor role. This oversubscription underscores the confidence in Bain’s strategy and capacity to execute at scale. Structured across U.S. (Delaware) and Luxembourg vehicles, Fund XIV supports Bain’s global investment ambitions. The firm integrates its capital across geographies and sectors, leveraging its operational platform and deep domain expertise. The fund benefits from Bain’s global infrastructure, which includes over 330 professionals globally, and a dedicated 90‑member portfolio group focused on digital transformation, supply chain, and talent development. In its investment approach, Fund XIV emphasizes operational value creation over financial engineering. Bain estimates that about 80 % of value across its prior decade of portfolio performance was driven by operational improvements—reflecting its hands‑on, transformational approach in complex environments. The fund will compete in core sectors such as consumer, healthcare, industrials, services, and technology, deploying significant equity capital into fewer, well‑chosen companies. With greater scale and ambition, Fund XIV positions Bain to broaden its platform and generate durable value creation even in competitive markets. The fund will look for investments where Bain’s sector expertise, cross‑platform capabilities, and global insights can make a differentiating impact. Its success will further cement Bain’s position among the world’s leading private equity firms.

Bain Capital Tech Opportunities is a growth equity fund managed by Bain Capital that focuses exclusively on technology companies at critical inflection points in their development. Established in 2019 with its debut fund closed at $1.3 billion, the strategy was created to capture durable value creation opportunities in enterprise software, cybersecurity, healthcare IT, and financial technology—sectors where Bain Capital's deep operational expertise and global network add material value beyond capital. The fund employs a flexible, multi-stage investment approach, making equity investments of $50 million to $200 million in late-stage venture-backed and established technology companies. Unlike traditional buyout strategies, Bain Capital Tech Opportunities seeks to partner with high-quality management teams at the growth-to-scale phase, providing capital and Bain's deep operational resources to help companies navigate market expansions, international growth, and strategic M&A. Target companies typically have strong recurring revenue, defensible market positions, and experienced leadership teams. The fund targets approximately 15 platform investments per vehicle. The first fund deployed capital across a portfolio of approximately 15 companies and was supported by institutional investors, including the New Mexico State Investment Council with a $60 million commitment. Building on this track record, Bain Capital raised a substantially larger second fund of $2.4 billion (closed February 2023), underscoring institutional confidence in the technology-focused growth equity strategy. Notable investments from the platform include Ataccama (data management), Deltatre (sports and entertainment technology), Hudl (coaching and performance analytics), and SumUp (global payments and financial services for SMEs).

Battery Investment Partners XIV, L.P. is a parallel co-investment vehicle raised alongside Battery Ventures XIV, the fourteenth flagship fund of Boston-based venture capital firm Battery Ventures. The fund closed in July 2022 with approximately $94.6 million in committed capital from two institutional limited partners, including the Alaska Retirement Management Board. As a parallel feeder vehicle, Battery Investment Partners XIV co-invests on substantially identical terms to the main Battery Ventures XIV fund, providing specific institutional investors with a dedicated vehicle that accommodates their regulatory, tax, or mandate requirements. Battery Investment Partners XIV targets the same investment universe as the flagship Battery Ventures XIV fund: technology companies across application software, infrastructure software, consumer technology, and industrial technology and life science tools. The vehicle leverages Battery Ventures' nine-partner investment team and applies the same research-intensive methodology focused on backing technical founders from seed through growth buyout stages. The fund holds exemptions under Rule 506(b) and Sections 3C, 3C.1, and 3C.7 of the Investment Company Act, consistent with a parallel vehicle structure serving a concentrated group of institutional accredited investors. Battery Ventures has raised over $16 billion in capital since its founding in 1983, and Battery Investment Partners XIV forms one component of the firm's fourteenth vintage, which collectively raised more than $3.8 billion. The parallel structure complements the main Battery Ventures XIV vehicle ($3.04 billion) and Battery Ventures XIV EF ($38.5 million). Battery Management Corp. serves as the registered investment adviser (SEC CIK 160921) for all Battery XIV vehicles, operating from offices in Boston, San Francisco, Menlo Park, New York, London, and Tel Aviv. The general partner of record is Battery Partners GP XIV, LLC, the same GP entity overseeing all Battery XIV vehicles.

Battery Ventures XIV EF, L.P. is a companion investment vehicle raised alongside Battery Ventures XIV, the fourteenth flagship fund of Boston-based venture capital firm Battery Ventures. The fund closed in July 2022 with approximately $38.5 million in committed capital. The EF vehicle is structured under Section 3C.1 of the Investment Company Act, which limits the vehicle to up to 100 accredited investors, distinguishing it from the main Battery Ventures XIV fund which employs the broader 3C.7 exemption. This structure is consistent with a seed-stage or early-founders participation vehicle designed for a concentrated group of investors. Battery Ventures XIV EF employs the same investment strategy as Battery Ventures XIV, focusing on technology companies across application software, infrastructure software, consumer technology, and industrial technology and life science tools. The vehicle is managed by Battery Partners GP XIV, LLC, the same general partner entity overseeing all Battery XIV vehicles, and leverages the firm's nine-partner investment team. The EF designation aligns with Battery's practice of offering companion funds that allow specific groups of accredited investors, such as founders or early-stage specialists, to participate in early-stage investment opportunities alongside the main fund vehicle. Battery Ventures has raised over $16 billion in capital since its founding in 1983, and Battery Ventures XIV EF forms the smallest component of the firm's fourteenth vintage by committed capital. The XIV fund family collectively raised more than $3.8 billion across three primary vehicles: Battery Ventures XIV ($3.04 billion), Battery Investment Partners XIV ($94.6 million), and Battery Ventures XIV EF ($38.5 million), complemented by Battery Select Fund II ($530 million) for follow-on investments in existing portfolio companies. Battery Ventures XIV EF closed on July 15, 2022, completing the full Battery XIV fundraising cycle. Battery Management Corp. serves as the SEC-registered investment adviser (CIK 160921).

Battery Ventures XIV, L.P. is the fourteenth flagship fund raised by Battery Ventures, a Boston-based venture capital and growth equity firm founded in 1983. The fund held its initial close in March 2022 and completed its final close in July 2022, having raised approximately $3.04 billion in committed capital from 22 limited partners. Together with companion vehicles Battery Ventures XIV EF and Battery Select Fund II, the Battery XIV fund family raised more than $3.8 billion in total, representing one of Battery's largest fundraising cycles to date. Battery Ventures XIV deploys capital across all stages of technology company development, from early seed investments through majority-stake growth buyouts, employing a stage-agnostic approach refined since 1983. The fund focuses on four core technology sectors: application software including fintech and healthcare IT; infrastructure software spanning data, artificial intelligence, developer tools, and cybersecurity; consumer technology; and industrial technology and life science tools. The nine-partner investment team includes Neeraj Agrawal, Michael Brown, Morad Elhafed, Jesse Feldman, Russell Fleischer, Roger Lee, Zack Smotherman, Chelsea Stoner, and Dharmesh Thakker, applying Battery's research-intensive methodology focused on backing technical founders from inception to exit. The fund has a mandate to complete majority-growth investments and platform buyouts, continuing a practice Battery has pursued since 2008 across more than 17 platform companies. Battery Ventures XIV is domiciled in Delaware and the Cayman Islands, managed by Battery Management Corp., the SEC-registered investment adviser (CIK 160921). Confirmed limited partners include the Alaska Retirement Management Board, which committed $25 million at first close, and the Alaska Permanent Fund among 22 total institutional investors. Total committed capital in the main vehicle reached $3,042,078,283 as reported in the fund's SEC Form D filing. Battery Ventures has raised over $16 billion across its fund family since founding, with a track record spanning more than four decades and portfolio companies across the United States, Europe, and Israel.

Blackstone Capital Partners Asia III is the third edition of Blackstone’s Asia-focused buyout strategy, targeting control and significant minority investments across high-growth sectors in the Asia-Pacific region. The fund launched fundraising in September 2024 and quickly attracted strong global institutional interest, building on Blackstone’s proven track record in the region. As of October 2025, the fund has reached its $10 billion target and is on track to close at its $12.9 billion hard cap by Q1 2026. Approximately 90% of existing LPs from prior Asia funds have recommitted, increasing their allocations by an average of 30%. The strong backing reflects confidence in Blackstone’s historical performance, particularly the 41% net return and 80% capital returned from Fund II. Geographically, India and Japan remain core to the strategy. In previous Asia funds, India accounted for 31% of capital deployed, followed by 22% in Japan and 9% in Australia. Fund III will pursue broader regional diversification, adapting to evolving market dynamics and tapping into emerging opportunities across the wider Asia-Pacific landscape. Despite macro headwinds such as high interest rates and a muted exit environment, Blackstone and other top-tier global firms continue to raise mega-funds by leveraging strong brands, deep operational teams, and global scale. Asia-Pacific’s long-term secular growth, demographic trends, and economic transformation continue to make it a compelling region for private equity deployment.

BluePeak Private Capital Fund II (BPCF II) is a pan-African private credit fund launched by BluePeak Private Capital, an alternative asset management firm established in 2019. The fund aims to raise $250 million to provide flexible credit solutions to underserved mid-sized businesses across Africa, addressing the persistent financing gap that hinders their growth. BPCF II focuses on delivering impact-driven investments while offering investors superior risk-adjusted returns. The fund targets strategic sectors such as manufacturing, pharmaceuticals, logistics, and financial services—industries pivotal to deepening local value chains and fostering industrial clusters. With a strong emphasis on gender inclusion, BPCF II is 2X Challenge qualified, promoting women's economic empowerment as a core objective. The fund integrates sustainability considerations throughout its investment process, prioritizing resilience, inclusive growth, and long-term value creation. In its first close, BPCF II secured $80 million in commitments from leading European Development Finance Institutions (DFIs), including British International Investment (BII), FMO, Swedfund, and the Swiss Investment Fund for Emerging Markets (SIFEM). These commitments underscore the DFIs' confidence in BluePeak's strategy to combine performance with impact, mobilizing capital to Africa's underserved mid-market segment.

Bpifrance Large Venture is a EUR 2.5 billion growth and late-stage venture capital fund managed by Bpifrance, France's state-backed public investment bank and the country's primary innovation financing institution. Established in 2014, Large Venture is one of the largest dedicated technology and life sciences growth funds in continental Europe, providing long-term patient capital to highly innovative companies — both publicly listed and unlisted — with validated business models operating at significant scale. The fund acts as an active shareholder with a long-term investment horizon, supporting companies that are ready to expand internationally or accelerate their competitive positioning across high-potential markets. Large Venture focuses exclusively on technology and life sciences sectors in France, participating in financing rounds above EUR 20 million with an initial ticket size of at least EUR 10 million. The fund co-invests as lead or follower alongside other leading European and international growth equity investors, covering a broad spectrum of sub-sectors including enterprise software, artificial intelligence, cybersecurity, fintech, healthtech, foodtech, greentech, and digital health. Investment decisions emphasize companies with demonstrated revenue traction, a clear path to market leadership, and the potential to reach Next40 or French Tech 120 designation. With a generalist approach across technology and life sciences, the fund is positioned to support France's most competitive scale-ups throughout their late-stage growth journey. Since its 2014 founding, Large Venture has built a portfolio of over 80 companies, including 12 members of the Next40 and 25 members of the French Tech 120. Notable portfolio companies include Doctolib (digital health), Contentsquare (digital analytics), Exotec (robotics and logistics automation), Owkin (AI for healthcare), Shift Technology (AI for insurance), Electra (EV charging), ManoMano (B2B construction), Swile (employee benefits), and Aqemia (AI drug design). The fund plays a catalytic role in France's technology ecosystem, co-investing with major international growth equity and crossover investors, while providing the stability and scale required by late-stage innovators preparing for IPO or strategic exits.

Bregal Sagemount Basecamp I is an inaugural $500 million small-cap growth equity fund managed by Bregal Sagemount, a New York-based growth-oriented investment firm founded in 2012 by Gene Yoon. The fund reached its hard cap with a final close in July 2024, representing Bregal Sagemount's first dedicated vehicle for investments in profitable, founder-led businesses requiring sub-$75 million equity checks — a segment historically underserved by the firm's flagship equity funds. Basecamp I targets bootstrapped and capital-efficient companies across the software, information and data services, financial technology, digital infrastructure, healthcare IT, and business services sectors in North America and Europe. The fund provides flexible, patient equity capital to durable growth businesses with high recurring revenues and uncorrelated secular growth characteristics. Equity check sizes range from $20 to $75 million per transaction, co-led by Zuhair Khan (who joined as co-head from General Atlantic in November 2023) and Jordan Walton (with the firm since 2017). The strategy complements Bregal Sagemount's flagship equity funds — which deploy $20 to $400 million per transaction — by addressing the overlooked small-cap cohort where founder ownership and operational efficiency create asymmetric return potential. Bregal Sagemount has invested in more than 70 portfolio companies since its founding, cumulatively raising $7.5 billion across equity and credit funds through 2024. The firm ranked fifth among 106-plus growth capital firms in the HEC Paris 2023 performance rankings and was named a top private equity firm by GrowthCap in 2025. Basecamp I attracted re-ups from the firm's existing institutional LP base alongside new investors, closing oversubscribed at its $500 million hard cap within months of launch. Bregal Sagemount is backed by Bregal Investments, the family office of the Brenninkmeyer family, providing permanent capital backing that differentiates the firm from managers dependent solely on LP re-ups.

Bregal Sagemount Credit Solutions is an approximately $800 million private credit fund managed by Bregal Sagemount, a New York-headquartered growth equity and credit firm founded in 2012. The fund achieved its final close in September 2024, representing Bregal Sagemount's first dedicated credit vehicle after more than a decade of equity-only investing. It is structured as a dual-series fund encompassing an Opportunistic Credit series targeting higher-return subordinated and bespoke instruments, and a levered Direct Lending series designed to deliver competitive current yields. The fund provides non-dilutive debt capital to the same technology-enabled growth companies targeted by the firm's equity strategies — including software, information and data services, financial technology, digital infrastructure, healthcare IT, and business services businesses in North America and Europe. Individual credit transactions range from $15 to $100 million, with the Opportunistic Credit series pursuing mezzanine, second-lien, and bespoke subordinated instruments, while the Direct Lending series offers senior secured facilities with leverage to enhance yield. The dual-series architecture allows LPs to choose their preferred risk-return profile while the shared deal origination platform leverages the firm's decades of relationships in the growth company ecosystem. At final close, Bregal Sagemount Credit Solutions had completed five investments across both series, demonstrating rapid deployment from day one. The fund was anchored by leading pension fund investors with long-term private credit commitments. Bregal Sagemount has cumulatively raised $7.5 billion across equity and credit funds since 2012 and manages more than 70 active and exited portfolio companies. Scott Simpson leads the credit solutions franchise, positioning the vehicle to deliver approximately $1.0 billion of total deployable capital — including leverage on the Direct Lending series — to founder-owned and sponsor-backed growth companies that prize certainty, speed, and structural flexibility over lowest-cost execution.

Bregal Sagemount Fund IV is a $2.5 billion growth-focused private equity fund managed by Bregal Sagemount, the North American investment arm of Bregal Investments. Established in 2012, Bregal Sagemount targets market-leading businesses with high recurring revenues operating in end-markets with uncorrelated secular growth characteristics. Fund IV closed at its hard cap in October 2022, representing a 66% increase over the predecessor Fund III, and attracted 100% limited partner re-participation with a 130% re-up rate by dollar value, reflecting exceptional LP conviction in the manager's track record and strategy. The fund deploys flexible, solution-oriented capital across a range of transaction types — including control buyouts, minority growth investments, recapitalizations, and structured investments — in companies typically headquartered in the United States. Bregal Sagemount's target sectors include enterprise software, financial technology and specialty finance, digital infrastructure, healthcare IT, and business and consumer services. The firm emphasizes businesses with strong management teams, durable competitive moats, and meaningful opportunities to accelerate growth through operational improvements, add-on acquisitions, and international expansion. Since inception, Bregal Sagemount has built a portfolio of over 40 investments and consistently generated top-quartile returns across its fund vintages. Fund IV continued this trajectory, investing in a diversified set of high-growth companies across the US market. The manager is backed by Bregal Investments, a global private equity platform with over $20 billion in assets under management, providing Fund IV's portfolio companies with access to a broad international network of co-investors, advisors, and strategic partners.

CDP Venture Capital – Corporate Partners I is an Italian corporate venture capital fund managed by CDP Venture Capital SGR, the venture capital platform of Cassa Depositi e Prestiti (CDP), Italy's national development finance institution. The fund closed with €300 million under management and became operative in September 2021, making it one of Italy's largest dedicated corporate venture capital vehicles and the first fund of its kind to structure corporate limited partners as active innovation partners rather than passive investors. Corporate Partners I operates as a multi-sector CVC fund organized across four thematic verticals: EnergyTech (energy transition solutions), IndustryTech (manufacturing, IoT, and robotics), ServiceTech (financial and insurance digitalization), and InfraTech (drones, IoT, artificial intelligence, and innovative materials). The fund invests in post-seed Italian and international startups that have validated their solutions and are ready to scale, deploying tickets of up to €7 million per round through Series B. Corporate LP partners—including Adler, Marcegaglia, and Camozzi—co-invest and provide market access, pilot projects, and commercial routes for portfolio companies, aligning industrial incumbents with deep-tech startups around shared technology agendas. Corporate Partners I leverages CDP Venture Capital SGR's position as Italy's leading venture capital manager, drawing on the national institution's network, data infrastructure, and mandate to strengthen Italy's innovation ecosystem. The fund is designed to catalyze cross-sector synergies between its corporate LPs and a curated portfolio of scaling startups, creating a flywheel of industrial demand, pilot revenues, and follow-on capital that complements CDP's broader Italian innovation agenda across subsequent fund generations.

CMT Digital Fund IV is the fourth venture capital fund raised by CMT Digital, the crypto and blockchain-focused investment arm of CMT Group — a Chicago-based diversified investment firm operating across exchange-traded derivatives, public and private equities, energy markets, and digital assets for more than 25 years. The fund closed in October 2025 at $136 million, slightly below its $150 million target following a challenging fundraising environment for crypto-focused venture. The close brings CMT Digital's total digital asset-focused assets under management to over $600 million across four funds since its venture practice began in 2017. Prior funds raised $25.5 million (Fund I), $130 million (Fund II), and $100 million (Fund III). Fund IV is organized around an early-stage investment thesis in blockchain infrastructure and applications. CMT Digital targets founders building the foundational technology layers of decentralized networks — encompassing settlement infrastructure, digital asset custody, cross-chain interoperability, decentralized finance (DeFi) primitives, Web3 application platforms, and the payments and tokenization layers connecting traditional finance to on-chain rails. The fund has a global mandate with offices in Chicago, APAC, and Europe, reflecting CMT Group's established presence across international derivatives and digital asset markets. CMT Digital's dual identity as both a trading firm and venture investor provides portfolio companies with institutional market access, liquidity expertise, and distribution relationships that distinguish the firm from purely financial VC managers. CMT Digital has deployed capital across more than 200 blockchain and crypto-focused businesses, protocols, and tokens through its first three funds. Fund IV's LP base comprises family offices, high-net-worth individuals, and institutional investors. The fund is currently in an active Investing phase following its November 2025 final close and will target early-stage companies positioned to benefit from the next major wave of crypto adoption across global markets.

CVC Credit Partners European Direct Lending Fund IV (“EUDL IV”) marks a significant milestone in the growth of CVC’s private credit platform. With €10.4 billion raised across the fund and parallel vehicles, this fourth iteration of the European direct lending strategy represents a substantial increase from its predecessors, reflecting strong investor appetite for sponsor-backed private credit solutions in Europe. The fund benefits from CVC’s deep market presence and long-established track record in the region. The fund targets private equity-sponsored mid-to-large cap businesses across Europe, offering flexible, tailored lending solutions. CVC leverages the strength of its Private Equity platform and pan-European credit expertise to source proprietary deals and deliver comprehensive financing packages. EUDL IV has already committed capital to over 30 transactions, including high-profile deals such as KKR’s acquisition of Immedica Pharma and Cinven’s purchase of idealista. EUDL IV’s investment approach emphasizes senior secured lending, focused on risk-adjusted returns and capital preservation. The fund’s scale and execution capacity enable it to lead or anchor transactions, positioning CVC as a trusted partner to sponsors and borrowers alike. Its strategy also supports complex financings such as take-privates, platform acquisitions, and recapitalizations. CVC Credit continues to grow its private credit footprint, now managing over €18 billion across Direct Lending and Capital Solutions. With strong tailwinds in the European private credit market and increasing disintermediation from traditional banks, EUDL IV is well-positioned to capture market share and deliver attractive risk-adjusted returns for its global institutional investor base.

Canapi Ventures Fund II is a $750 million venture capital fund managed by Canapi Ventures, a Washington, D.C.-based investor focused exclusively on the financial services technology sector. Launched in 2022 and reaching final close in December 2023, Fund II brought Canapi's total assets under management to over $1.4 billion, backed by nearly 70 U.S. financial institutions and strategic investors across the country. The fund targets early- and growth-stage fintech companies operating at the intersection of financial infrastructure, banking technology, lending and credit platforms, payments, cybersecurity, climate technology applied to financial services, artificial intelligence, and real estate technology. Canapi Ventures distinguishes itself by assembling a limited partner base of active financial institutions—banks, insurance companies, and specialty lenders—that serve as strategic commercial partners for portfolio companies, providing distribution, regulatory insight, and real-world validation that generalist venture capital firms cannot replicate. This investor network gives Canapi portfolio companies a meaningful commercial advantage at a critical point in their growth, translating capital into customers and partnerships simultaneously. Building on Fund I's portfolio of category-defining fintech companies, Canapi Ventures Fund II has made early investments in companies including DynamoFL, Island, and Crux Climate, reflecting its thesis around regulated-industry infrastructure, enterprise browser security, and climate-aligned financial services. Fund II represents one of the largest fintech-focused venture funds raised in 2023, cementing Canapi's position as the institutional-grade bridge between incumbent financial services and emerging fintech innovation in the United States and beyond.

CapitalG is the independent growth equity fund of Alphabet Inc., the parent company of Google, investing for long-term financial returns in high-growth technology companies at the growth stage through pre-IPO. Founded in 2013 as Google Capital and rebranded as CapitalG in 2016, the fund manages approximately $7 billion in assets under management as of 2024 and has made over 220 investments since inception, with a portfolio that includes 36 unicorn companies. CapitalG operates as a financially independent entity within Alphabet's investment portfolio, with its own partnership structure and investment decision-making processes distinct from Google Ventures (GV), which focuses on early-stage investing. CapitalG focuses on growth-stage technology companies, typically investing $50 million to $200 million per company in sectors including financial technology, cybersecurity, software-as-a-service, consumer internet, healthcare technology, and artificial intelligence. Unlike strategic corporate venture capital funds, CapitalG invests primarily for financial return rather than strategic alignment with Google's core products, though portfolio companies benefit from access to Google's technical infrastructure, distribution channels, and executive expertise. The fund's distinctive value proposition is its ability to offer portfolio companies hands-on support from Google engineers, data scientists, and executives via dedicated expert teams that go beyond traditional board-level advisory roles. CapitalG's portfolio includes some of the most successful technology companies of the past decade: Stripe, Airbnb, CrowdStrike, Zscaler, Databricks, Credit Karma, Duolingo, and Gusto. The fund's track record demonstrates consistent success across enterprise software, fintech, and cybersecurity categories, with multiple portfolio companies achieving IPOs or significant acquisitions. The $7 billion AUM figure as of 2024 represents a substantial increase from the approximately $3 billion reported in 2022, reflecting both capital appreciation and continued deployment by Alphabet through its balance sheet investing program.

Carlyle Asia Partners I (CAP I) is the inaugural Asia-Pacific buyout fund managed by The Carlyle Group, one of the world's largest and most diversified global investment firms. Launched in 1999 with a final close of USD 750 million, CAP I represents Carlyle's first dedicated vehicle for leveraged buyout and control transactions across the Asia-Pacific region, marking the firm's strategic entry into the continent following the establishment of its first Asian offices in 1998. The fund targets control and co-control transactions in established, profitable companies operating across the dynamic economies of Asia. CAP I's investment mandate covers buyout and majority control transactions in large and mid-sized companies across Greater China, South Korea, Taiwan, Southeast Asia, and Australia. The fund focuses on select high-growth sectors including financial services, media and telecommunications, consumer goods, and industrial manufacturing, where Carlyle's global network and operational expertise can accelerate portfolio company value creation. The strategy emphasizes active ownership, strengthening management teams, implementing best practices in corporate governance, and leveraging Carlyle's international industry relationships to drive growth through strategic acquisitions and partnerships. CAP I was among the pioneering institutional buyout vehicles in the Asia-Pacific region, investing at a time when private equity was in its infancy across most of the continent. Notable early investments included Taiwan Broadband Communications and Office Depot China, demonstrating Carlyle's cross-sector and multi-market approach. CAP I established the blueprint for a fund family that has grown substantially through successive vintages: CAP II ($1.8 billion, 2002), CAP III ($2.55 billion, 2008), CAP IV ($3.88 billion, 2013), and CAP V ($6.55 billion, 2018), cementing Carlyle as one of the premier private equity franchises in Asia-Pacific with more than USD 18 billion invested and over 160 companies partnered across the continent.

Cathay Innovation Fund III is a €1 billion global venture capital fund launched by Cathay Innovation to invest in startups driving the sustainable transformation of industries and society. The fund focuses on application-layer AI companies across sectors such as digital health, fintech, consumer applications, and energy/mobility. It targets Series A to late-stage startups, with investment amounts ranging from €5 million to €80 million. Fund III is backed by institutional investors and multinational corporations, including Sanofi, TotalEnergies, and BNP Paribas Cardif. The fund aims to support companies that are accelerating the sustainable transformation of industries and society through next-generation technologies, business models, and platforms. Cathay Innovation leverages its global investment platform and extensive corporate ecosystem to provide startups with access to new markets and strategic partnerships. The fund integrates sustainability into every step of the investment cycle to measure, track, and maximize the impact of startups while helping entrepreneurs build more responsible, resilient businesses. Cathay Innovation has a strong investment track record, having backed over 120 early-stage startups across Europe, Asia, and North America. Of these, 19 have become unicorns, including Chime Bank, Wallbox, Ledger, and Glovo. Fund III continues this legacy by investing in companies with high growth potential and the capacity to expand internationally, aiming to empower businesses to lead the large markets of the future.

Centana Growth Partners III is the third flagship growth equity fund raised by Centana Growth Partners, a specialized investment firm with a decade-long track record of backing transformative companies across financial services, financial technology, insurance technology, wealth management, payments, and enterprise technology serving the financial ecosystem. Headquartered in Palo Alto with offices in New York and San Francisco, Centana occupies a distinctive position in growth equity by combining deep sector expertise in financial services with hands-on operational support drawn from an advisory network of more than 20 senior practitioners from institutions such as Blackstone, PayPal, State Street, FIS Global, and Lazard Asset Management. Centana Growth Partners III targets growth-stage companies with proven product-market fit, recurring revenues between $7 million and $75 million, and strong customer adoption momentum. The fund makes investments of $10 million to $50 million or more per company, taking a highly customized approach to each partnership and structuring transactions to meet the specific needs of founders and management teams. Investment thesis areas span fintech infrastructure, insurance technology, payments technology, wealth management platforms, banking software, capital markets technology, and enterprise software serving financial services institutions. Centana's active portfolio of more than 35 companies reflects its consistent emphasis on partnering with teams at inflection points where strategic capital and industry expertise can decisively accelerate market penetration. Centana Growth Partners III held its final close on December 9, 2024, raising $600 million in committed capital—surpassing its predecessor Fund II, which closed at $375 million. The fund attracted a diverse institutional base that includes public pension funds such as the Los Angeles Fire and Police Pensions, which committed $15 million during the summer of 2024. The fundraise, completed on the firm's 10-year anniversary, reflects Centana's sustained relevance in financial services growth equity and positions the firm to back the next generation of companies transforming financial services infrastructure, distribution, and data intelligence globally.

Clarion Investors IV, L.P. is a $677 million lower middle market buyout fund managed by Clarion Capital Partners, a New York-based private investment firm founded in 1999 by Marc Utay. The fund completed its final close on April 3, 2024, exceeding both its $600 million fundraising target and $650 million soft cap — making it Clarion's second consecutive oversubscribed fund. The close reflects continued strong institutional support and recognition of Clarion's disciplined strategy of creating value in lower middle market companies through what the firm calls the 'alignment of capital and culture.' Clarion Investors IV, L.P. pursues primarily control investments in lower middle market companies generating $7.5 million to $30.0 million in EBITDA, operating across five focused verticals: Media, Entertainment & Technology; Financial Technology & Services; Business & Healthcare Services; Consumer & Education Services; and Industrial Services. The fund employs a consistent, disciplined investment approach emphasizing long-term performance through operational improvement, strategic add-on acquisitions, and management team alignment. Clarion's investment strategy centers on identifying strategically important companies where its sector expertise, capital, and network can create meaningful transformational value beyond what management teams could achieve independently. Clarion Capital Partners has generated top-quartile returns across its first two funds and was recognized by PitchBook as the number two buyout private equity firm out of 414 firms ranked for track record consistency across multiple fund vintages — one of the most rigorous performance benchmarks in the lower middle market. The firm's investment team is led by Founder and Managing Partner Marc Utay and President of Private Equity David Ragins, with a deep bench of sector-focused professionals. Fund IV follows the $427 million Clarion Investors III, L.P. (2017 vintage), which itself was oversubscribed, demonstrating Clarion's consistent ability to raise and deploy capital at scale in the competitive lower middle market segment.

Clarion Investors III, L.P. is a $427 million lower middle market buyout fund managed by Clarion Capital Partners, a New York-based investment firm founded in 1999. The fund completed its final close on November 27, 2017 at its hard cap, significantly oversubscribed from its initial $350 million target — with final closing achieved within just four months of launch. Capital commitments were received from a globally diverse group of institutional investors including public pension funds, corporate pension funds, insurance companies, funds of funds, endowments, foundations, and global family offices, reflecting strong confidence in Clarion's consistent lower middle market strategy. Clarion Investors III, L.P. pursues primarily control buyout investments in lower middle market companies generating $7.5 million to $30.0 million in EBITDA. The fund targets high-growth, strategically important businesses across four focused verticals: Business and Healthcare Services; Media, Entertainment and Technology; Consumer and Retail; and Specialty Financial Services. Clarion Capital Partners employs a consistent investment approach built on creating valuable partnerships with founders and management teams, delivering hands-on operational support alongside flexible capital to accelerate growth, execute strategic add-on acquisitions, and drive operational improvements throughout the investment period. Clarion Investors III, L.P. generated top-quartile returns, continuing the performance trajectory established by the firm's first two funds. Portfolio highlights include a final platform investment in Narrative Strategies LLC, an integrated public affairs and corporate reputation agency. The fund positioned Clarion as one of the leading lower middle market managers in the United States, a reputation subsequently reinforced by PitchBook recognizing Clarion Capital Partners as the number two buyout private equity firm out of 414 tracked firms ranked for track record consistency across multiple fund vintages. Fund III's success directly enabled the oversubscribed close of Clarion Investors IV, L.P. at $677 million in 2024.

Clarion Investors III, L.P. is a $427 million lower middle market buyout fund managed by Clarion Capital Partners, a New York-based investment firm founded in 1999. The fund completed its final close on November 27, 2017 at its hard cap, significantly oversubscribed from its initial $350 million target — with final closing achieved within just four months of launch. Capital commitments were received from a globally diverse group of institutional investors including public pension funds, corporate pension funds, insurance companies, funds of funds, endowments, foundations, and global family offices, reflecting strong confidence in Clarion's consistent lower middle market strategy. Clarion Investors III, L.P. pursues primarily control buyout investments in lower middle market companies generating $7.5 million to $30.0 million in EBITDA. The fund targets high-growth, strategically important businesses across four focused verticals: Business and Healthcare Services; Media, Entertainment and Technology; Consumer and Retail; and Specialty Financial Services. Clarion Capital Partners employs a consistent investment approach built on creating valuable partnerships with founders and management teams, delivering hands-on operational support alongside flexible capital to accelerate growth, execute strategic add-on acquisitions, and drive operational improvements throughout the investment period. Clarion Investors III, L.P. generated top-quartile returns, continuing the performance trajectory established by the firm's first two funds. Portfolio highlights include a final platform investment in Narrative Strategies LLC, an integrated public affairs and corporate reputation agency. The fund positioned Clarion as one of the leading lower middle market managers in the United States, a reputation subsequently reinforced by PitchBook recognizing Clarion Capital Partners as the number two buyout private equity firm out of 414 tracked firms ranked for track record consistency across multiple fund vintages. Fund III's success directly enabled the oversubscribed close of Clarion Investors IV, L.P. at $677 million in 2024.

Clarion Capital Partners, LLC has closed its fourth private equity fund, Clarion Investors IV, L.P. with $677 million in total capital commitments. The Fund seeks long-term investment outperformance primarily through partnering in buyouts of lower-middle market companies. The fund exceeded its fundraising target of $600 million and marks Clarion’s second oversubscribed fund in a row. Clarion focuses on making primarily control investments in a diversified portfolio of lower middle-market companies generating $7.5-30.0 million of EBITDA. The firm seeks to invest in growth companies in sectors such as Media, Entertainment & Technology, Financial Technology & Services, Business, Healthcare & Industrial Services, and Consumer. In addition to the private equity business, Clarion established a credit business focused on structured corporate credit in 2018, which will continue to be led by Robert Klein, President and Chief Investment Officer of Structured Credit. Clarion has experienced tremendous growth since its founding in 1999 and has generated top-quartile returns in its first two funds. The firm was recognized by Pitchbook as the number two firm out of 414 buyout private equity firms with track records across multiple vintages. In addition, GCI Publishing announced in March that the firm was chosen as a 2024 Top 50 Private Equity Firm in the Middle Market. The fund was raised with the help of Paul, Weiss, Rifkind, Wharton, & Garrison LLP as legal counsel. The fund invests in the U.S..

Clarion Investors IV is the fourth flagship private equity fund raised by Clarion Capital Partners, a New York-based investment manager founded in 1999. The fund closed in April 2024 with 77 million in total capital commitments, exceeding its 00 million fundraising target and its 50 million soft cap, making it Clarion's second consecutively oversubscribed fund. The firm manages approximately .9 billion in regulatory assets under management across its two business segments — Private Equity and Structured Credit — and has a 42-person team. Clarion was recognized by PitchBook as the second-ranked firm out of 414 buyout private equity firms with track records across multiple vintages. Clarion Investors IV targets primarily control buyouts of lower middle-market companies generating between .5 million and 0 million in EBITDA, typically requiring equity investments of 5 to 5 million per transaction. The fund's investment universe spans Media, Entertainment & Technology; Financial Technology & Services; Business & Healthcare Services; Consumer & Education Services; and Industrial Services. The team commits 10–15% of their own capital alongside investors in each fund, closely aligning GP and LP interests. The fund continues a track record established across three prior funds, including Clarion Investors III (2017 vintage, 27 million). Clarion has generated top-quartile returns in its earliest funds and has received consecutive recognition as an Inc. Magazine Founder-Friendly Investor, a designation reflecting its partnership-oriented approach to building companies through collaboration, creativity, and disciplined capital allocation. Fund IV is domiciled in Delaware, United States, and targets lower middle-market companies in North America across technology, healthcare services, financial services, and consumer sectors.

Clearhaven Fund I, L.P. is the debut private equity fund raised by Clearhaven Partners, a Boston-based lower middle-market buyout firm founded in 2019 by Michelle C. Noon and Kevin A. Wood. The fund closed in September 2021 with more than 12 million in capital commitments, significantly exceeding its target and closing oversubscribed. Notably, the entire fundraise was conducted during the COVID-19 pandemic, and the fund was fully committed within six months of its first closing — a testament to strong LP demand and the founding team's credibility. The fund is domiciled in Delaware, United States. Clearhaven Fund I targets growing lower middle-market software and technology companies with revenues of approximately 0 million to 0 million, pursuing control-oriented buyout investments across four thematic areas: Application Software, Infrastructure Software, Financial Technology, and Data & Analytics. The firm's operationally-driven partnership model centers on supporting scalable, profitable growth, with the investment team drawing on backgrounds at Thoma Bravo, Clearlake Capital, Advent International, Apax Partners, JMI Equity, and H.I.G. Capital. The fund's LP base includes endowments, foundations, insurance companies, pension funds, funds-of-funds, and senior executives from software companies who worked with the Clearhaven founders previously. Early platform investments from Fund I include Engageware (formerly TimeTrade SilverCloud), a Massachusetts-based SaaS provider for financial institutions, and Wowza Media Systems, a Colorado-based video and media streaming software company. The success of Clearhaven Fund I led to the 2024 closing of Clearhaven Fund II at 80 million, demonstrating consistent LP conviction in the team's software-focused buyout strategy.

Cofounders Capital Fund III is the third venture capital fund from Cofounders Capital, a seed-stage VC firm founded and based in Cary, North Carolina. The fund closed at $50 million in March 2023, representing a significant step up from Fund I ($12 million) and Fund II ($31 million), and more than double Fund II's size. Cofounders Capital is one of the most active seed-stage B2B software investors in the Southeastern United States, with a particular concentration in North Carolina's Research Triangle region. The firm was co-founded by Tim McLoughlin and Mark Easley, who bring operational backgrounds as company builders alongside their investing experience. Fund III pursues a seed-stage, B2B software investment strategy with a target of 15 to 20 portfolio companies per fund cycle. The firm emphasizes hands-on support across product-market fit development, go-to-market strategy, and investor network introductions. Preferred initial check sizes are in the range of $1–3 million per company, with follow-on reserves. The firm focuses on enterprise software categories within sectors such as health tech, fintech, construction technology, HR tech, and marketing technology. Its geographic focus spans the Southeast, though it selectively leads rounds in companies outside the region when the opportunity warrants. Cofounders Capital Fund III had made approximately 10 investments as of early 2024, with portfolio companies including Spidr and Ecomap. The fund's LP base includes institutional investors, high-net-worth individuals, and family offices, many of whom are themselves founders or operators in the Southeast startup ecosystem. The firm's regional presence and hands-on model have made it a preferred lead investor for early-stage founders in markets such as Raleigh-Durham, Charlotte, Atlanta, and Nashville who are building scalable B2B software businesses.

Crestline Direct Lending Fund IV (CDLIV) is the fourth installment of Crestline Investors’ flagship direct lending strategy, which recently closed with $3.5 billion in investable capital, including anticipated leverage. The fund focuses on providing tailored financing solutions to sponsor and non-sponsor backed companies across North America, particularly within the lower and core segments of the middle market. Since its inception in 2014, Crestline's direct lending strategy has completed over 150 transactions, deploying more than $5.9 billion in capital. CDLIV has already executed 46 transactions across a diverse array of borrower profiles, industries, and sponsors, demonstrating the firm's commitment to flexible, scalable capital solutions. The fund attracted a globally diversified investor base, including public and corporate pension plans, sovereign wealth funds, asset managers, registered investment advisors, and other financial institutions from North America, Europe, and Asia. This broad support underscores Crestline's reputation as a trusted steward of capital and its ability to deliver returns and capital preservation through various credit cycles.

Crestline Lending Solutions Fund (CLSF) is a perpetual, open-ended private credit vehicle launched by Crestline Investors in October 2025, representing the firm's first perpetual commingled fund structure. Based in Fort Worth, Texas, Crestline Investors is a multi-strategy alternative investment manager with over two decades of experience spanning credit, structured products, and hedge fund-of-funds strategies. CLSF was designed to offer institutional investors and qualified purchasers ongoing access to Crestline's direct lending capabilities without the fixed lifecycle constraints of traditional closed-end fund structures. The fund pursues a core and lower middle market direct lending strategy, providing senior secured and unitranche loans to both sponsor-backed and non-sponsor-backed companies across the United States. CLSF focuses on the domestic lower middle market where competition from large direct lenders is more limited and lending terms more lender-friendly. The perpetual structure enables efficient capital deployment and recycling over time, offering investors regular liquidity windows alongside attractive yield generation from a diversified loan book targeting companies with $5 million to $75 million in EBITDA. Crestline's direct lending platform has historically deployed approximately $1.9 billion across 46 transactions annually, demonstrating substantial underwriting capacity. The firm's broader credit capabilities encompassing structured credit, special situations, and public credit provide complementary deal sourcing and analytical support for CLSF's portfolio construction. Prior Crestline credit strategies received the PitchBook Gold Badge for Direct Lending, reflecting the manager's recognized standing in the private credit market and its ability to generate consistent risk-adjusted returns across economic cycles.

Crosslink Ventures X, L.P. is the tenth flagship venture capital fund raised by Crosslink Capital, a Menlo Park-based early-stage investment firm founded in 1989. The fund closed on April 23, 2024 at its $350 million target, bringing Crosslink Capital's total assets under management across ten funds to approximately $4.6 billion. The fund represents the continuation of Crosslink's 35-year track record as a pre-seed through Series A investor partnering with ambitious founders building category-defining technology companies. Crosslink Ventures X invests at the pre-seed, seed, and Series A stages with initial check sizes ranging from $1 million to $9 million, deploying $1–3 million at seed and $5–10 million at Series A, with reserves for follow-on investment. The fund's sector focus spans enterprise software and SaaS, consumer technology, vertical software platforms, financial technology, artificial intelligence and AI-first applications, healthcare IT, cybersecurity, and deep technology. Portfolio companies receive access to Alpha, Crosslink's invite-only network of more than 2,000 founders, CEOs, seed investors, and enterprise executives co-founded in 2005 by General Partner Eric Chin. Alpha hosts more than 40 annual forums, thematic dinners, and investor summits that provide Crosslink portfolio companies with peer-to-peer learning and business development opportunities uncommon in early-stage investing. The fund attracted commitments from both new and existing investors despite a challenging fundraising environment for early-stage vehicles in 2023–2024, reflecting confidence in Crosslink's disciplined check-size discipline and long-term LP relationships. Crosslink has generated 50+ exits including 17 IPOs across its fund history.

Curql Fund II is the second flagship venture capital vehicle launched by Curql Collective, a credit union-backed investment platform focused exclusively on fintech innovation. With $309 million raised (as of May 2025) from 83 credit union investors, the fund is designed to support the development and adoption of next-generation technologies that enhance the competitiveness and member experience of credit unions across the United States. Following the successful deployment of Curql Fund I, which raised $254 million and invested in 38 fintech startups, Fund II continues the mission of aligning cutting-edge financial technologies with the needs of community-focused financial institutions. The fund offers its limited partners not only investment returns but also strategic benefits, such as preferred pricing and early access to fintech solutions that are shaping the future of banking. Curql Fund II provides a unique co-innovation model in which credit unions play an active role in guiding the development of fintech tools tailored to their operational realities and member priorities. The initiative has already facilitated approximately $12 million in collective savings through negotiated discounts and exclusive access to its portfolio companies.

The D. E. Shaw Diopter Fund II is a $1.3 billion private credit fund launched by the D. E. Shaw Group in May 2025. This closed-end fund focuses on capital optimization strategies, particularly synthetic securitizations, to assist banks in managing risk and enhancing balance sheet efficiency. Building upon the success of its predecessor, Diopter Fund I, which raised over $650 million in 2023, Diopter II aims to capitalize on the growing demand for risk transfer solutions among financial institutions. The fund's strategy involves investing in transactions that provide regulatory capital relief, thereby enabling banks to allocate more resources to core lending and other activities. The fund is managed by D. E. Shaw's Private Credit investment unit and Regulatory Capital Optimization Strategy team. Key personnel include Managing Directors Rich McKinney, Marianna Fassinotti, and Steve Eilenberg, who bring extensive experience in structured credit and regulatory capital strategies. D. E. Shaw's involvement in synthetic securitizations dates back to 2007, with a dedicated focus since 2016. The firm has invested approximately $4.2 billion across more than 40 such deals, positioning it as a leading player in this niche market.

Dawson Portfolio Finance 6 LP (PF6) is the sixth flagship portfolio finance fund of Dawson Partners, a Toronto, London, and New York-based global alternative asset manager with over US$25 billion in AUM that specializes in structured liquidity solutions for private markets participants. The portfolio finance strategy provides bespoke capital solutions including preferred equity, structured debt, and portfolio liquidity mechanisms to institutional limited partners and general partners seeking flexible alternatives to traditional secondary sales or standard NAV lending facilities — an approach that preserves optionality for LPs while generating yield-like risk-adjusted returns for the fund's investors. PF6 closed oversubscribed at its US$7.0 billion hard cap on October 23, 2025, raising over US$7.7 billion including affiliated co-investment vehicles, well above the US$6.0 billion original target, making it Dawson's largest fund to date and one of the largest fundraises ever dedicated solely to structured private-markets liquidity solutions. The fund attracted over 100 unique institutional and private wealth investors across 17 countries and 4 continents, including public pension plans such as the Minnesota State Board of Investment, Maryland State Retirement and Pension System, the Los Angeles City Employees' Retirement System, and Fresno County Employees' Retirement Association, reflecting broad global institutional demand for portfolio finance solutions as PE portfolios age and traditional exit routes remain constrained. Kirkland & Ellis served as legal counsel to Dawson on the closing.

E4E Africa Fund II is the second venture capital fund raised by E4E Africa, a South Africa-based impact-oriented venture firm focused on high-growth, technology-driven companies across Sub-Saharan Africa. The fund reached a first close of USD 30 million in December 2023, attracting both local and international institutional investors including the SA SME Fund, a South African government-backed fund of funds that was a cornerstone backer of E4E Africa's debut fund. E4E Africa was established to back exceptional entrepreneurial teams building scalable, technology-enabled businesses that address fundamental gaps in African economies while generating risk-adjusted venture-level financial returns. E4E Africa Fund II invests in early-stage to growth-stage companies across four core sectors aligned with the structural transformation of Sub-Saharan African economies: financial services and fintech (expanding access to credit, digital payments, and insurance for underserved populations), education and job technology (skill-building platforms, workforce matching, and EdTech enabling workforce development), e-health (telemedicine, digital diagnostics, electronic health records, and health information management), and energy solutions (off-grid solar, mini-grids, and decentralized clean energy access for underserved communities and businesses). The fund primarily targets Anglophone Sub-Saharan Africa, with an active presence in South Africa and Kenya, and seeks to expand into other high-growth markets across the continent. E4E Africa's debut fund established a portfolio track record across South African and East African technology markets. Fund II's early portfolio includes Kwara, a Kenyan core banking platform serving SACCOs and credit unions with digital transformation tools; TUNL, a South African tech-enabled cross-border export shipping provider simplifying logistics for small and medium exporters; and a fast-growing embedded finance platform disrupting financial services distribution in Kenya. The firm's on-the-ground presence across southern and eastern Africa provides an information advantage in sourcing seed and Series A opportunities ahead of larger pan-African funds, and its impact thesis attracts Development Finance Institution co-investors seeking blended finance structures.

EQT VII is a large-cap buyout fund managed by EQT AB, the Stockholm-headquartered alternative investment organization. Established with a 2015 vintage, EQT VII completed its final close at EUR 6.75 billion on July 31, 2015, reaching its hard cap and finishing significantly oversubscribed, with more than 70% of commitments made by investors in prior EQT funds. Domiciled in Luxembourg, EQT VII targets control and co-control equity investments in established European companies with strong market positions, significant revenue and earnings growth potential, robust cash flows, and high-quality management platforms. Typical equity ticket sizes range from EUR 125 million to EUR 600 million, positioning EQT VII firmly in the large-cap buyout segment. The fund focuses on companies primarily in the Nordic Region, German-speaking Europe, and the Benelux Region, applying EQT's signature industrial approach — a hands-on operational value creation methodology supported by EQT's Industrial Network of senior industry advisors who serve as strategic partners throughout the ownership period. EQT VII is classified as SFDR Article 8, integrating ESG factors into investment decision-making and portfolio management. EQT VII's investment strategy focuses on sectors where EQT has built multi-decade operational expertise: healthcare and life sciences, technology and software, financial services, industrial technology, and business-to-business services. The fund pursues transformational buy-and-build strategies, internationalization of strong domestic champions, and operational improvement programs developed in partnership with portfolio company management teams. EQT's Industrial Network provides portfolio companies with access to strategic advisors, operational experts, and proprietary market intelligence that differentiates EQT's ownership model. Dedicated value creation teams embed operational resources directly into portfolio management to drive measurable improvement in revenue growth, EBITDA margins, and organizational resilience over the investment holding period. EQT VII's limited partner base reflects deep institutional quality and broad geographic diversity. Anchor LPs include AP3 and AP6 (Swedish national pension funds), APG (Netherlands), Ardian, Argentum (Norwegian private equity investor), CNP Assurances (French insurer), Danica (Danish pension), GIC (Singapore sovereign wealth fund), HarbourVest Partners, KEVA (Finnish local government pension), KIRKBI Invest (LEGO family holding), Ilmarinen (Finnish pension), New Mexico State Investment Council, New York City Retirement Systems, Partners Group, PFA (Danish pension group), Sampension, Signal Iduna (German insurer), USS (UK Universities Superannuation Scheme), and Varma (Finnish pension insurer). The fund is now fully invested and actively managing its portfolio of European buyout companies through the realization phase.

The EV II fund is a 70m€ Venture Capital fund that invests in innovative companies in Series A & B stage. The fund has a focus on Fintech and Beyond Banking sectors, including financial technology, RegTech, cybersecurity, mobility, energy, agriculture, and more. The fund targets investments in Central and Eastern Europe, which is an emerging startup ecosystem with amazing talent and founders but lacks the attention and funding resources of more mature regions. The fund has a commitment from RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark, and has previously invested in a portfolio of 15 companies, including investment banking, e-signature & identification, and RegTech companies, among others. The main goal of Elevator Ventures is to earn a financial return for its investors. In addition, they want to contribute to the strategy of the banks and engage with high-growth companies whose business models might be changing the industry dynamics in the mid- to long term. The fund also cooperates with international co-investors and has decided to invest in a Fund of Funds and other VC funds alongside Raiffeisen-Landesbank Steiermark, and Raiffeisenlandesbank Oberösterreich. The fund also believes in the transformative power of technological shifts that enable high-growth companies to drive customer value and reshape industries. They are driven by a sector focus that encompasses not only Fintech but also Beyond Banking, which includes platform-based business approaches in various service areas. Elevator Ventures also plans to continue to promote innovation in the region with the backing of its LP base.

The Eighth Cinven Fund (Fund 8) is a buyot fund managed by Cinven. It has raised $14.5 billion and is nearly 30% larger than its predecessor fund, Fund 7. The fund has benefitted from a strong re-up rate from longstanding Limited Partners and welcomed new investors to its global Limited Partner base. The success of the fundraise is attributed to the long-term track record, depth and experience of the team, and the consistency of its strategy in building long-term, sustainable businesses with global growth opportunities. Cinven usually investors in the following sectors: Business Services, Consumer, TMT, Healthcare, Financial Services and Industrial. The strategy for Fund 8 builds on the approach successfully used in previous funds, investing in control positions in growth-oriented, market-leading, cash-generative companies. Cinven seeks to accelerate growth through active management and deliver break-out returns. The fund seeks to invest across sectors and geographies, particularly during periods of volatility, to identify attractive opportunities. Cinven seeks to build long-term, sustainable businesses that will grow, provide employment, and generate economic benefit in an environmentally and socially responsible manner. With a proven track record of investing successfully through economic cycles, the Cinven Funds have completed investments in more than 150 portfolio companies across Europe and in North America and realized or listed more than 115 investments, returning proceeds of approximately €47 billion to the Cinven Funds. Founded as the private investment arm of the British Coal pension scheme in 1977, Cinven became independent in 1995 and has raised more than €50 billion in aggregate to date through various funds."

Eldridge Diversified Credit Fund I (EDCF I) is a closed-end private credit vehicle co-launched by Eldridge Industries and Carlyle AlpInvest in January 2026, representing the inaugural fund of Eldridge's diversified credit platform. With approximately $1.5 billion in investable capital assembled through an equity commitment from Carlyle AlpInvest and co-investors combined with a senior debt facility from BNP Paribas, EDCF I targets corporate credit and asset-based equipment origination opportunities across the United States. Legal counsel was provided by Kirkland & Ellis for the fund's formation and close. EDCF I pursues a dual-pronged approach to private credit: traditional corporate credit lending to middle-market and sponsor-backed companies alongside asset-based equipment origination through secondary loan and lease portfolio acquisitions. This hybrid strategy generates risk-adjusted returns by combining the stability of corporate credit with structural protections inherent in asset-backed lending. The fund targets US-domiciled borrowers where equipment financing and corporate lending intersect. As the inaugural vehicle in Eldridge's diversified credit platform, EDCF I reflects the firm's expanding ambitions after years of deploying capital across entertainment, insurance, real estate, and financial services. The partnership with Carlyle AlpInvest, one of the largest PE fund-of-funds managers globally, lends institutional credibility to the platform launch. Eldridge Industries, founded by Todd Boehly, manages approximately $50 billion in assets, providing deal origination infrastructure to source differentiated credit opportunities.

Endeavor Catalyst IV is the fourth co-investment fund in the Endeavor Catalyst series, managed by Endeavor Catalyst, the investment arm of Endeavor, the global nonprofit supporting high-impact entrepreneurship in emerging and underserved markets. The fund held its final close in June 2022 at USD 292 million, surpassing its original target of USD 200–250 million, and brought total assets under management across all Endeavor Catalyst vehicles to over USD 500 million since the series' inception in 2012. The fund is backed by more than 100 Endeavor Entrepreneurs as limited partners, alongside prominent global investors and founders. Endeavor Catalyst employs a rules-based co-investment model, investing exclusively in companies led by entrepreneurs who have been selected into Endeavor's global network. The fund co-invests in priced equity rounds, primarily at Series A, B, and C stages, alongside leading institutional venture capital and growth equity funds including Andreessen Horowitz, General Atlantic, Insight Partners, Lightspeed Venture Partners, and SoftBank. The geographic mandate spans 35 or more emerging markets including Brazil, Mexico, Indonesia, Pakistan, the Middle East, Africa, and Southeast Asia, with sector allocations across fintech, consumer tech, and enterprise software. Endeavor Catalyst IV attracted LP commitments from iconic technology founders including Reid Hoffman (LinkedIn), Marcin Zukowski (Snowflake), Kevin Ryan (DoubleClick, MongoDB), and Bill Ackman (Pershing Square), as well as over 100 Endeavor Entrepreneurs representing more than 30% of the LP base. As of the fund's closing, the cumulative Endeavor Catalyst portfolio had generated 49 unicorn-valued companies, nearly 2 million jobs, and USD 17 billion in annual revenue. Endeavor Catalyst manages USD 540 million or more in AUM across all fund vehicles as of 2024.

Endeit Capital III (legal entity: Endeit Fund III) is the third flagship growth equity fund of Endeit Capital, an Amsterdam and Hamburg-based venture capital firm specialising in European internet and technology scale-ups. The fund held its final close in May 2022 at €303 million, exceeding its original hard cap as a reopening to institutional investors added a further €50 million above the initial target of €250 million. KfW Capital, the German state-owned promotional investment bank, served as an anchor investor alongside German institutional investors committing €50 million in aggregate. The fund attracted over 75 backers including 12 portfolio company founders, underscoring Endeit's reputation within the European startup ecosystem. Endeit Capital III targets Series B-stage and growth-stage technology companies with proven business models and international expansion potential, operating in sectors including Climate Technology, Fintech, Future of Work, Sales Enablement, Security, and AI-driven enterprise software. The fund applies Endeit's established approach of partnering intensively with management teams to support internationalisation, particularly within the DACH region and the Nordics — geographies where Endeit has built one of Europe's deepest operational networks. The firm's expansion to a Stockholm office, opened alongside the Fund III close announcement, reflects this Nordic commitment. Portfolio investments from Endeit Capital III include Parcellab (supply chain communication software), Sharpist (digital leadership coaching), Stravito (enterprise knowledge management), and Amberscript (AI-powered transcription and captioning). Endeit Capital, founded in 2006 and descended from European media group Endemol, manages the fund from offices in Amsterdam, Hamburg, and Stockholm. Fund III is positioned for investors seeking concentrated exposure to high-growth European digital businesses at the inflection point between early traction and global scale.

Eurazeo PME IV is a €1.1 billion private equity buyout fund managed by Eurazeo, focusing on small to mid-sized French companies. Launched in 2022, it surpassed its predecessor by 50%, reflecting strong investor confidence in Eurazeo’s strategy. The fund targets enterprises valued between €50 million and €500 million, with investments ranging from €20 million to €100 million. The fund's strategy centers on supporting leading French SMEs in their international growth and transformation. By providing capital and strategic guidance, Eurazeo PME IV aims to help these companies expand their global footprint and enhance operational capabilities. The fund leverages Eurazeo’s extensive network and expertise to drive value creation. Eurazeo PME IV has attracted a diverse group of investors, including institutional investors, sovereign funds, insurance companies, and family offices from France, Europe, and Asia. This broad investor base underscores the fund's strong market appeal and Eurazeo's reputation in the private equity landscape.

The Evergreen Park Investment Fund is a co-investment private equity vehicle managed by Fisher Lynch Capital, a boutique firm specializing in collaborative investments. Launched in 2021, the fund was initially capitalized with $2 billion from the Washington State Investment Board (WSIB), its sole limited partner. Subsequent commitments of $1 billion in 2023 and $800 million in 2024 have brought total assets under management to $3.8 billion. The fund's strategy focuses on co-investing alongside existing private equity managers in which WSIB already holds positions. This approach allows for enhanced alignment with WSIB's broader investment portfolio and leverages established relationships to access high-quality deal flow. The fund targets buyout and growth equity opportunities, aiming to capitalize on the expertise of its partner managers. Fisher Lynch Capital, headquartered in San Mateo, California, brings a disciplined investment process and a track record of successful co-investments. The firm evaluates deals across various industries and geographies, seeking opportunities that offer strong potential for value creation. The Evergreen Park Investment Fund represents a significant commitment to this collaborative investment model, aligning the interests of WSIB and Fisher Lynch Capital in pursuing long-term growth.

Expedition's second fund, Expedition Growth Capital II, closed at the hard cap of €250 million and saw commitments from global investors including university endowments, charitable foundations, fund of funds, software entrepreneurs, and family offices. The fund's target investments are in European software companies, and their strategy involves providing capital for growth and shareholder liquidity, as well as operational expertise to bootstrapped founders. Their first fund portfolio comprises 10 bootstrapped software companies that have more than doubled revenues in a capital efficient manner since Expedition’s initial investment, indicating their focus on companies with strong growth potential. Fund counsel for Expedition Growth Capital II were Akin Gump Strauss Hauer & Feld and Carey Olsen. Expedition Growth Capital focuses on partnering with ambitious, rapidly growing European software companies that have achieved significant traction without external funding. They target minority growth investments, providing shareholder liquidity and growth capital to highly resilient, founder-led software companies. Their companies are typically on a path to category leadership with a use rather than a need for capital.

FPV Fund I, L.P. is a $457 million early-stage venture capital fund raised by FPV Ventures, a Jackson, Wyoming-based firm co-founded by Wesley Chan and Pegah Ebrahimi. The fund held its final close in June 2022, attracting commitments from 172 investors including foundations, universities, hospitals, and research organizations. FPV Ventures is recognized for backing 'missionaries, not mercenaries' — founders who build companies driven by deep mission conviction rather than short-term financial incentives. The fund's investment mandate spans seed and Series A rounds, with sector exposure concentrated in enterprise software, healthcare technology, biotechnology, financial technology, developer tools, and education technology. FPV Ventures brings an operator-first perspective: co-founder Wesley Chan previously launched Google Analytics at Google Ventures, while Pegah Ebrahimi served as Chief Operating Officer of Morgan Stanley's Technology Banking division, giving the team exceptional insight into both product development and capital markets. Notable portfolio companies backed through Fund I include Canva (design software, Australia), Flexport (supply chain logistics), and Guild Education (workforce learning platform). The strong portfolio performance validated the mission-driven investment thesis, and FPV has commenced fundraising for its successor, Fund II, with a Form D filing submitted to the SEC in February 2025.

Falfurrias Growth Partners I (FGP I) is the inaugural growth equity fund of Falfurrias Management Partners (FMP), the Charlotte, North Carolina-based lower middle-market private equity firm founded in 2006 by Hugh McColl, Marc Oken, and Ed McMahan. FGP I closed at its hard cap of $400 million in December 2023, oversubscribed and anchored by leading global pension plans, asset managers, insurance companies, endowments, foundations, family offices, and high-net-worth investors. The general partner committed $45 million alongside limited partners. The fund employs FMP's proprietary "Industry First" methodology — identifying transformational market themes before targeting specific companies — applied to a lower EBITDA band below FMP's traditional Falfurrias Capital Partners flagship series. FGP I targets software and technology-enabled businesses in business services, fintech, information services, data analytics, marketing services, and vertical software with $1–$7 million in EBITDA and $5 million or more in annual recurring revenue. Initial check sizes range from $20–$50 million per investment, structured as control buyouts or selective minority stakes. The investment committee is led by Cam Dyer and Michael Clifton, both former Carlyle Group Partners with over 20 years of technology investing experience. FGP I operates as a distinct vehicle from FMP's flagship Falfurrias Capital Partners (FCP) buyout series, which has deployed approximately $4 billion across seven core funds. Where FCP targets established lower middle-market businesses across sectors, FGP I concentrates exclusively on growth-stage software and technology-enabled services companies at a smaller enterprise scale, offering institutional investors differentiated access to the convergence of software and business services in the US lower middle market.

First Plus Global Opportunity Fund VCC is an umbrella Variable Capital Company (VCC) domiciled in Singapore and managed by First Plus Asset Management Pte. Ltd. (UEN 202006951M), a Capital Markets Services (CMS) Licensed Fund Management Company regulated by the Monetary Authority of Singapore. The VCC was established in 2020 and holds two active sub-funds: the Asia Opportunity Fund (active equity) and the Asia Special Situations Fund (structured credit), with a third private equity sub-fund in planning as of 2021. BNP Paribas Securities Services provides global custody, hedge fund administration, and investor services for the VCC. The VCC's sub-funds cover multiple asset classes. The Asia Opportunity Fund is a concentrated equity portfolio applying bottom-up research and value-driven investing to identify mispriced companies in Greater China and Asia, targeting structural inefficiencies arising from reforms and demographic shifts. The Asia Special Situations Fund focuses on Asian securitized credit and asset-backed securities, seeking steady income and attractive spreads of 100-200 basis points above comparable corporate bonds. The firm describes its overall approach as combining deep local insights across emerging Asia with a disciplined risk management framework spanning credit, equity, and quantitative strategies. First Plus Asset Management was incorporated on 2 March 2020 in Singapore and received its CMS Fund Management license from MAS in August 2020. The firm is led by a founding team of five principals with a reported combined 90+ years of investment experience across institutions in the United States, Europe, and Asia. The company has grown to a team of 28-50 professionals with offices in Singapore (Samsung Hub and Asia Square Tower 1) and a licensed public fund platform in Thailand. PricewaterhouseCoopers LLP serves as the fund's auditor. No AUM figures or fund close sizes have been publicly disclosed.

Fitz Gate Ventures Fund I is the debut vehicle of Fitz Gate Ventures, an early-stage venture capital firm co-founded in 2015 by Jim Cohen and Mark Poag and headquartered in Houston, Texas. The fund was established in 2017 with a final close of approximately $10 million and was anchored by the firm's deep ties to Princeton University, where both general partners teach venture capital investing at the Princeton University Graduate School. Fund I pioneered the firm's network-driven investment model that has since been replicated across its subsequent vehicles. Fund I deployed capital at the pre-seed, seed, and Series A stages, writing initial checks of approximately $500,000 with reserves for follow-on investments, targeting early-stage technology companies primarily from the Princeton University ecosystem — including alumni-, faculty-, and student-founded startups. The fund pursued a generalist strategy across software, fintech, healthcare, energy, and deep tech, investing exclusively in U.S.-based companies. A defining feature of the strategy is the proprietary 'Friends of Fitz' advisor network comprising hundreds of founders, venture capitalists, academics, and senior executives who support portfolio companies with deal flow, diligence, introductions, and commercial partnerships. Fitz Gate Ventures Fund I has produced at least one unicorn, consistent with the firm's stated track record. Early portfolio investments included Quantum Circuits, Inc. (subsequently acquired by D-Wave Quantum for $550 million), Optimal Dynamics, Visor, Predata, and Pledge, among approximately 15-21 portfolio companies. The fund's performance underpinned the firm's ability to raise a $25 million Fund II in May 2020 and a third fund in December 2025, bringing total firm AUM to approximately $70 million. Fund III broadened scope beyond Princeton to a national generalist strategy with Rice University as an anchor LP.

Flashpoint Direct Secondary Fund II is the second vehicle of Flashpoint's dedicated Direct Secondary strategy and the firm's eighth fund overall, launched in early 2026 with a target size of US$75–100 million. Managed by Flashpoint Direct Secondary, the specialist secondary arm of London-based technology investment firm Flashpoint, the fund addresses growing demand for liquidity solutions within the maturing European and Israeli technology ecosystem. The fund provides secondary liquidity to early investors, employees, and founders in established, high-growth technology businesses—predominantly those originating from Europe and Israel—without requiring a full company sale or IPO, enabling sellers to monetize long-held positions while Flashpoint gains exposure to mature, revenue-generating businesses. The fund focuses exclusively on direct secondary transactions: purchasing equity stakes directly from shareholders of individual portfolio companies rather than acquiring LP interests in other funds. Target companies typically generate $20 million or more in annual recurring revenue, have achieved market leadership in their respective technology verticals, and are at a stage where traditional primary VC financing is no longer the dominant capital need. The fund is led by General Partner Michael Szalontay and Partner Lukas Harustiak, specialists in the European and Israeli secondary market. Its first close in January 2026 was supported by twenty limited partners, including international family offices and high-net-worth individuals, many of whom were returning investors from the predecessor Flashpoint Secondary Fund I. The predecessor Flashpoint Secondary Fund I, launched in 2021 and anchored by the Scheinberg family office, validated the direct secondary thesis by completing ten investments in the European and Israeli tech ecosystem, including Preply (which achieved unicorn status in late 2025), Printify (unicorn late 2024), Chess.com, Travelier, AirHelp, K2View, and Booksy. The strong performance trajectory of these portfolio companies established Flashpoint Direct Secondary Fund II's position as the natural successor, with a modestly increased target reflecting both the maturation of the direct secondary market and the fund's well-established track record attracting significant repeat investor commitment.

Flashpoint Secondary Fund I is the inaugural vehicle of Flashpoint's Direct Secondary strategy, launched in 2021 as a Jersey Private Fund by the London-headquartered technology investment firm Flashpoint. The fund was designed to provide secondary liquidity to early investors, employees, and founders in established technology companies founded by teams originating from Europe and the Middle East and North Africa (MENA) region, at a stage where traditional VC exit pathways—IPOs or strategic sales—remained years away. Anchored by the Scheinberg family office, the fund pioneered a specialist niche of direct secondary transactions within the European-Israeli tech ecosystem, establishing Flashpoint as one of the first institutional firms to build a dedicated direct secondary strategy for this geographic and sector focus. Unlike traditional LP-interest secondary funds, Flashpoint Secondary Fund I focused exclusively on purchasing equity directly from individual shareholders of portfolio companies rather than acquiring interests in other funds—enabling precise selection of specific high-quality businesses with proven revenue traction and market leadership. Target companies had $20 million or more in annual recurring revenue, were backed by institutional venture investors, and operated primarily in B2B software, edtech, marketplace, and technology-enabled services sectors. The fund's approach allowed early shareholders to monetize long-held equity positions without forcing a full company sale, while positioning Flashpoint as a supportive long-term partner aligned with continued growth. Flashpoint Secondary Fund I completed ten investments across its deployment period, building a concentrated portfolio of European and Israeli technology leaders including Preply (which achieved unicorn status in late 2025), Printify (which reached unicorn valuation in late 2024), Chess.com, Travelier, AirHelp, K2View, and Booksy. The strong performance trajectory of these portfolio companies—including multiple unicorn achievements within the fund's holding period—validated the direct secondary thesis and established the foundation for the successor Flashpoint Direct Secondary Fund II, launched in early 2026 with a US$75–100 million target and a first close from twenty limited partners including many returning investors.

Flashpoint Venture Growth Fund IV is the fourth flagship venture capital fund raised by Flashpoint (formerly Flashpoint Venture Capital), an international technology investment manager headquartered in London with additional offices in New York, Tel Aviv, and Riga. Founded in 2012, Flashpoint manages approximately $600 million in AUM across eight funds spanning three strategies: Venture Growth, Growth Debt, and Direct Secondary. Fund IV was launched in Q4 2024 and, as of a November 2024 SEC Form D filing, had raised $46.65 million from 30 investors against a stated total offering amount of $200 million. Fund IV concentrates on Series A and growth-stage B2B software companies founded by Israeli and Eastern European entrepreneurs, with a global commercial footprint primarily targeting the United States and Western European markets. Preferred sectors include AI, fintech, cybersecurity, enterprise software, EdTech, insurtech, and eCommerce. The fund's investment criteria require companies to have $1M-$5M in ARR and demonstrate 2x or greater year-over-year growth. Initial check sizes range from approximately $1M to $10M, with follow-on capacity up to $30M, targeting a 5%+ ownership stake and typical hold periods of 6-10 years. Flashpoint's venture growth track record spans three prior funds. Fund II reached approximately $57M. Fund III closed at $102M in August 2022 — the firm's first close with an institutional LP — and included investments in Guesty, Preply, Printify, OfficeRnD, K2View, Chess.com, and Clausematch. The firm has recorded 28 exits with over $250M distributed to LPs. Fund IV's known early portfolio includes DeepKeep (AI security), Rep AI (eCommerce AI), Qase (software testing), Numica, Kaiko Systems, and Vidext, with five investments made as of July 2025.

Flexpoint Fund V is the fifth flagship buyout fund raised by Flexpoint Ford, a Chicago-based specialist private equity firm founded in 2005 by Don Edwards, a former senior executive at GTCR. With a two-decade track record and more than $7 billion deployed across over 90 transactions, Flexpoint Ford stands as one of the most specialized private equity investors in financial services and adjacent sectors. Fund V launched its fundraise in 2022 with a $2.5 billion target, ultimately closing at $2.02 billion in committed capital, with an additional $338 million raised through the parallel Flexpoint Overage Fund V, bringing total combined commitments to approximately $2.36 billion. Fund V pursues a middle-market buyout strategy with deep sector specialization in financial services—spanning asset managers, specialty finance platforms, insurance distribution, and banking-related services—as well as select healthcare services businesses. Flexpoint Ford brings sector-specific operational expertise and a flexible capital framework that allows it to deploy across control buyouts, structured equity positions, and co-investments. The fund is domiciled in the Cayman Islands and invests predominantly in North American markets, leveraging the firm's two decades of relationships in financial regulation, technology-enabled financial services, and healthcare delivery. Flexpoint also operates a complementary Asset Opportunities strategy focused on acquiring yield-generating asset portfolios, including Flexpoint Asset Opportunity Fund II ($825 million), giving LPs access to a differentiated platform combining traditional private equity with asset-oriented credit. The Flexpoint Fund family has followed a consistent growth trajectory: Fund II closed at $1.28 billion, Fund IV combined with Overage Fund IV reached $2.0 billion (2019), and Fund V surpasses both, establishing a new AUM record for the firm. Fund V has deployed capital into portfolio companies including Elliott Davis, a top-25 US accounting and advisory firm, and Clearstead Advisors, a Cleveland-based registered investment advisor. In 2025, Chris Ackerman was appointed CEO of Flexpoint Ford, with Don Edwards transitioning to Executive Chairman, signaling continued institutional strength and leadership depth as Fund V progresses through its investment period.

GTCR Capital Solutions Fund is the inaugural fund under GTCR's new capital solutions strategy, launched in 2024. The fund focuses on providing minority structured equity and debt investments to mid-market companies, offering flexible financing solutions tailored to each company's specific needs. This strategy formalizes GTCR's approach to minority investments, allowing the firm to offer bespoke capital structures that can include convertible debt, preferred equity, and other hybrid instruments. The fund targets companies across various sectors, including business services, technology, media and telecommunications (TMT), financial services, and healthcare. With a target size of $1.5 billion, the fund has attracted commitments from institutional investors such as the Washington State Investment Board, which approved a $100 million investment in November 2024. The fund is domiciled in Delaware and managed from GTCR's headquarters in Chicago.

Generali Financial Holdings FCP-FIS Sub-fund 2 is a Luxembourg-domiciled specialised investment fund (Fonds d'Investissement Spécialisé) operating as a compartment within the Generali Financial Holdings FCP-FIS umbrella structure, managed by Generali Investments S.p.A., the asset management arm of Assicurazioni Generali S.p.A., one of Europe's largest insurance groups. The fund is registered with the legal entity identifier (LEI) 529900PV7EG9D7DCI614 and carries an ISIN of LU0877359157 for its A-Class capitalisation units, which are listed on the Luxembourg Stock Exchange for institutional secondary market liquidity purposes. Despite the listing, the fund is a restricted specialised investment vehicle accessible exclusively to well-informed and professional investors as defined under Luxembourg FIS regulations. The fund participates in large-scale private equity co-investment transactions alongside major global institutional investors. In March 2025, Generali Financial Holdings FCP-FIS Sub-fund 2 was among the consortium of investors — alongside BlackRock, Allianz SE, Hannover Rück SE, and T&D Holdings — that completed a significant stake in Viridium Holding AG, the pan-European life insurance consolidator valued at approximately €3.5 billion in the transaction. As a vehicle within the Generali Group's financial holdings structure, Sub-fund 2 reflects Generali's broader strategy of deploying long-term institutional capital into European private equity opportunities where the Group's insurance expertise and balance sheet scale provide a competitive advantage. The fund is primarily oriented towards European financial services and insurance-sector consolidation plays, consistent with the Viridium investment thesis and Generali Group's stated strategic priorities.

Gilgamesh Ventures, a New York-based venture capital firm specializing in early-stage fintech investments across the Americas, has successfully closed its second fund, Gilgamesh Fintech Ventures II, at $20 million. This new fund increases the firm's total assets under management to $35 million. Founded in 2021 by Miguel Armaza and Andrew Endicott, Gilgamesh Ventures focuses on backing fintech startups that accelerate the pace of commerce. With Fund II, the firm plans to invest in companies that leverage AI-native approaches to scale efficiently, reflecting a commitment to innovation in financial services. The fund's limited partners include institutional investors such as Foundation Capital, GBM Ventures, and Encore Bank, as well as fintech founders like Renaud Laplanche (Upgrade, Lending Club) and Dan Henry (Green Dot, NetSpend). Notably, all institutional investors from Fund I returned with equal or larger commitments for Fund II. Gilgamesh Ventures has invested in 44 startups across 10 global markets since its inception, with a significant presence in Latin America, including investments in companies like Nexu, Xepelin, and Cayena.

Global Impact Fund II is a seed-stage impact venture capital fund managed by The Global Good Fund, a Glenwood, Maryland-based investment organisation focused on backing social entrepreneurs from underrepresented communities. The fund made its first close in February 2021 and has raised $9.8 million against a $10 million target, structured as a Delaware Limited Partnership with standard venture economics (2% management fee, 20% carried interest) and a ten-year term including a five-year active investment period. Global Impact Fund II targets for-profit companies led by minority and women entrepreneurs operating across impact sectors including environmental sustainability, healthcare and health technology, education and edtech, financial technology, socioeconomic mobility, and income equality. The fund's approach prioritises both market-rate financial returns and measurable social outcomes, targeting a 3.5x net return for investors while deploying capital into mission-aligned businesses. The Global Good Fund's investment philosophy bridges the gap between traditional venture capital and philanthropy, providing not only equity capital but also mentorship and leadership development support to the founders it backs. Portfolio performance as of 2024 reflects returns of 5.1x invested capital, exceeding the fund's original return target. Note: This is a distinct fund from KKR's larger-scale Global Impact Fund II ($2.8B); reviewers should verify the correct fund ID before applying changes.

Growth Equity at Goldman Sachs Alternatives is Goldman Sachs Asset Management's dedicated growth equity platform, one of the largest and most tenured specialist growth investors globally, active since 2003 with over $13 billion invested across its history. The platform operates under the Goldman Sachs Alternatives umbrella alongside private equity, credit, and real assets strategies. The most recent flagship fund vehicle, West Street Global Growth Partners I, closed at $5.2 billion in 2023, making it one of the largest growth equity fund closes of that vintage year. The platform pursues minority growth equity investments in high-growth, technology-driven businesses that have achieved product-market fit and are scaling rapidly. Target companies operate across enterprise technology, financial technology, healthcare, and consumer sectors at the commercial or growth stage. Average investment sizes are approximately $50 million per company. Goldman Sachs deploys its proprietary GS Value Accelerator — an operational platform covering talent acquisition, commercial development, and international market expansion — to differentiate its value proposition from traditional passive growth investors and drive accelerated value creation across the portfolio. Led by global managing partners Darren Cohen in New York, Nishi Somaiya in London, and Stephanie Hui in Hong Kong, the platform has established itself as a conviction-led, operationally engaged growth investor with a genuine global reach across North America, Europe, and Asia Pacific. A successor fund, West Street Growth Equity Partners II, commenced fundraising and had raised approximately $555 million as of early 2026, demonstrating continued institutional LP demand for Goldman Sachs's growth equity capabilities. Goldman Sachs Asset Management manages approximately $300 billion in alternatives assets under supervision globally.

HGGC Fund III is the third flagship buyout fund raised by HGGC, a Palo Alto-based private equity firm founded in 2007 and known for its 'Advantaged Investing' approach. The fund held its final close on December 14, 2016—just 99 days after launch—raising $1.84 billion in commitments against a $1.5 billion target and surpassing the $1.75 billion hard cap. This record-pace fundraise reflected exceptional LP demand: HGGC secured $1.25 billion from existing investors and $500 million from new limited partners, drawing from a global base of public and private pension funds, sovereign wealth funds, insurance companies, family offices, and institutional investors across North America, Europe, Asia, and the Middle East. HGGC Fund III pursues control buyout investments in middle-market companies with enterprise values typically ranging from $100 million to $1 billion across four primary sectors: technology and information services, business and financial services, and consumer industries. The firm's investment strategy seeks businesses using technology to disrupt or modernize established end markets—such as software-enabled services, financial technology, and consumer-facing platforms—where HGGC's operating expertise and partnership-driven culture can drive transformational value creation. Average acquisition multiples for Fund III were approximately 7.4x EBITDA, reflecting disciplined entry pricing in competitive middle-market processes. With Fund III, HGGC contributed to a cumulative track record of over 730 completed transactions totaling more than $79 billion in enterprise value across its fund family. Representative investments from the firm's track record include Dealer.com, Serena Software, Thryv, and Evolent Health, demonstrating consistent value creation in technology-enabled business services. The rapid close of Fund III—less than 100 days from launch to final close—stands as a testament to HGGC's investor relationships and the repeatability of its investment model in the U.S. middle market technology and business services segments.

HGGC Fund IV is the fourth flagship buyout fund from HGGC, a Palo Alto-based technology-focused private equity firm with over $6.8 billion in cumulative capital commitments. The fund held its final close on June 16, 2022, raising over $2.54 billion in capital commitments—exceeding its $2.25 billion target and making Fund IV approximately 38% larger than its predecessor, HGGC Fund III. The investor base spans more than 170 limited partners across 25 countries, comprising public and private pension funds, sovereign wealth funds, insurance companies, family offices, and institutional investors in North America, Europe, Asia, and the Middle East. Fund IV pursues control-oriented buyout investments in middle-market companies across HGGC's four core sectors: technology and information services, business services, financial services, and consumer industries. The fund targets businesses with enterprise values between $100 million and $1 billion where HGGC's 'Advantaged Investing' operational playbook can accelerate growth, improve margins, and create long-term value through focused talent development, technology enablement, and partnership-aligned management teams. The firm's strong co-investment network and proprietary deal origination capabilities provide sourcing advantages in competitive middle-market processes. Building on three prior flagship funds totaling more than $4.25 billion in cumulative commitments, Fund IV continues HGGC's 15-year history of middle-market investing. With over 730 completed transactions and more than $79 billion in total enterprise value across its history, HGGC has consistently generated strong LP returns through operational value creation in technology-enabled businesses. Representative investments include Thryv (business management software), Dealer.com (automotive technology), and Evolent Health (value-based care), illustrating the firm's ability to build category-defining platforms in sectors undergoing technology-driven disruption.

HL SCOPE Access Fund 1 is a tokenized feeder fund providing institutional-quality private credit exposure through Hamilton Lane's Senior Credit Opportunities Fund (SCOPE), an all-weather open-ended evergreen private credit vehicle managed by Hamilton Lane (NASDAQ: HLNE). The underlying SCOPE fund is a Luxembourg-domiciled SICAV RAIF (registration B 266219) launched in October 2022, which had grown to approximately $804 million in assets under management as of October 2024. Hamilton Lane manages approximately $958 billion in total assets under management and supervision globally, with over 30 years of institutional private markets expertise. SCOPE targets floating-rate, first lien senior secured loans to privately-held, market-leading companies in historically recession-resilient sectors, emphasising capital preservation, downside protection, and consistent income generation across economic cycles. The portfolio is diversified across multiple private credit managers, geographies, and industries, with approximately 75% allocated to North American credits and 25% to European credits. Target net annual returns are 8–10%. The HL SCOPE Access Fund 1 feeder vehicle, launched via Securitize in May 2023, democratises access to this institutional strategy with a minimum investment of $10,000 and is available across multiple blockchain networks as an ERC-20 tokenized asset, with monthly subscription and redemption windows providing superior liquidity relative to traditional closed-end credit vehicles. Hamilton Lane's SCOPE strategy has demonstrated consistent performance across market cycles by maintaining a focus on senior-secured, floating-rate credit in defensive sectors. Key target industries include healthcare, information technology, business services, and industrials — asset classes characterised by contractual revenue streams, strong free cash flow generation, and demonstrated resilience to economic headwinds. The tokenized access structure has attracted a new generation of institutional and sophisticated individual investors seeking regulated, institutional-grade private credit exposure with enhanced liquidity, lower minimum investment thresholds, and the operational efficiencies of onchain settlement and custody.

Hayfin Emerald CLO XII DAC is the twelfth vehicle in the Emerald collateralised loan obligation (CLO) series managed by Hayfin Capital Management, a leading European alternative credit asset manager. Structured as a Designated Activity Company under Irish law and domiciled in Dublin, the vehicle is part of Hayfin's Emerald shelf — the firm's European CLO programme. Hayfin Emerald Management LLP acts as collateral manager and Hayfin Emerald II Limited serves as retention holder, ensuring compliance with EU risk-retention requirements under the Securitisation Regulation. Jefferies arranged the transaction, which was reset and priced at EUR 376.3 million in July 2025. The fund's investment strategy involves acquiring a diversified portfolio of primarily senior secured, broadly syndicated European leveraged loans, with a smaller allocation to high-yield bonds and other eligible debt instruments. As a CLO, the structure issues rated tranches of notes from senior AAA through subordinated equity tranches to institutional investors, creating a differentiated risk-return profile across the capital stack. The Emerald series focuses exclusively on European credit markets, targeting assets denominated in EUR and GBP across a broad range of industry sectors. The portfolio is actively managed within defined eligibility criteria and coverage tests, with the manager having reinvestment discretion during the reinvestment period. Hayfin Capital Management oversees more than EUR 20 billion in credit assets across direct lending, CLOs, liquid credit, and real assets strategies. The Emerald CLO series is one of the firm's cornerstone programmes, with successive resets and new issuances reflecting sustained institutional demand for Hayfin's European CLO capabilities. Hayfin Emerald CLO XII follows the firm's preceding Emerald vehicles and the separately managed Hayfin US CLO shelf, demonstrating the manager's capacity to operate across both European and US leveraged loan markets. The 2025 reset positions the fund for a new reinvestment and distribution cycle within the European leveraged finance ecosystem.

Hellman & Friedman Capital Partners XI is a private equity buyout fund managed by Hellman & Friedman that focuses on investing in a range of sectors, including technology, financial services, healthcare, retail and consumer products. Geographically, the fund targets companies primarily in North America and Europe, with a focus on established businesses with strong growth potential and proven track records. The fund is located in San Francisco, California. In terms of financial targets, the fund typically looks for companies with annual revenues of $500 million or more, and EBITDA of at least $100 million, indicating a preference for larger, more established businesses. The fund will invest between $400 million and $4 billion in mid to large caps. Overall, Hellman & Friedman Capital Partners XI seeks to invest in companies with strong management teams, competitive market positions, and opportunities for operational improvement and growth.

ICICI Venture IVen Amplifi Fund is an early-growth stage alternative investment fund (AIF Category II) managed by ICICI Venture Funds Management Company Limited, the private equity and alternative assets arm of ICICI Bank, one of India's largest private sector banks. Registered with SEBI as IN/AIF2/23-24/1341 and launched in 2023, the IVen Amplifi Fund marks ICICI Venture's strategic return to the Indian venture and early-growth capital segment, targeting technology-led businesses immediately after their Series A or at the early Series B stage. The fund is co-headed by Sharad Malpani, a director at ICICI Venture, and operates from the firm's offices at ICICI Venture House in Mumbai, India. The fund's investment mandate is sector agnostic within India's high-growth digital economy, with a primary focus on the financial technology (fintech), consumer technology (consumer-tech), and enterprise software (enterprise) verticals. IVen Amplifi targets companies that have achieved initial product-market fit and are ready to scale operations, customer acquisition, and geographic reach within India and potentially across Southeast Asian markets. Investment sizing and deal structure are calibrated to support growth-stage milestones including Series A to B transitions, team expansion, and platform development, with active value-add support from ICICI Venture's extensive network of corporate relationships and institutional investors. The IVen Amplifi Fund represents the continuation of ICICI Venture's four-decade history as India's leading private capital manager, having managed over INR 15,000 crore across private equity, real estate, and infrastructure strategies. Notable early investments from the IVen Amplifi Fund include Innovist (D2C consumer brands, INR 136 crore round) and Unbox Robotics (warehouse automation, USD 28 million Series B). Effective April 1, 2026, management of the IVen Amplifi Fund was transferred to ICICI Prudential Asset Management Company Limited following SEBI regulatory approval, reflecting a strategic reorganisation of ICICI Group's asset management operations.

Launched in April 2025, ISAI Cap Venture II is an €80 million corporate venture capital fund representing the renewed partnership between ISAI, France's leading entrepreneur-backed venture capital firm, and Capgemini Ventures, the corporate venture arm of Capgemini Group — one of the world's largest technology consulting and digital transformation companies. The fund builds on the success of ISAI Cap Venture I, which deployed capital into 15 portfolio companies across data governance, insurance distribution, and quantum technologies since 2019. ISAI Cap Venture II targets high-potential B2B startups and scale-ups globally, focusing on Series A through growth-stage rounds with tickets of €1 million to €5 million per company. Priority sectors are aligned with Capgemini's market presence and advisory capabilities: artificial intelligence and generative AI, enterprise data platforms and governance, DevOps and software engineering tooling, insurance technology, and quantum computing. The Capgemini partnership enables portfolio companies to pursue joint commercial approaches, gaining access to Capgemini's global enterprise client base as a strategic sales channel alongside the capital investment — a differentiated proposition for B2B software founders. ISAI Cap Venture II is structured as a pure corporate VC partnership combining ISAI's venture capital expertise and entrepreneurial network with the commercial reach, technical resources, and strategic intelligence of a global technology group operating across more than 50 countries. This model is increasingly sought by B2B software founders looking for investors who can accelerate enterprise revenue generation through established client relationships rather than purely financial backing — providing a distinctive competitive positioning in the European and global Series A landscape.

ISAI Expansion III is a €300 million growth equity fund managed by ISAI, a Paris-based venture and growth capital firm with a network of approximately 500 entrepreneur-LPs from France's tech and digital ecosystem. The fund reached its hard cap on February 6, 2025, one year after its first closing at €190 million, doubling the size of its predecessor vehicle. It holds an Article 8 classification under SFDR, reflecting formal commitments to responsible investment criteria throughout its portfolio construction. ISAI Expansion III targets profitable technology SMEs in France, Southern Europe, Switzerland, and the Benelux region, providing between €10 million and €50 million in equity per transaction, with co-investment rights available to LPs for tickets up to €80 million. The fund pursues two complementary deal types: Growth Buyouts — backing companies with sales of at least €10 million and EBITDA above €2 million — and Tech Growth transactions in high-growth profitable businesses expanding at 25–30% or more annually. Target sectors include SaaS, managed services, marketplaces, and tech-enabled companies in traditional sectors. The fund expects to back 12 to 15 companies over its investment period. ISAI Expansion III made its first investment in Staffmatch, a digital-native temporary employment group in France, in September 2024. Institutional investors represent 60% of the fund's LP base, comprising funds of funds, banks, insurance companies, and family offices, alongside ISAI's distinctive entrepreneur-LP network who co-invest with founder-level judgment and operational credibility. ISAI manages parallel strategies in early-stage venture (ISAI Venture IV) and Expansion, building a full-stack technology investment platform in France.

ISAI Venture IV is the fourth early-stage venture capital fund from ISAI, France's pioneering tech entrepreneurs' fund co-managed by successful founders of the French Tech ecosystem. Founded by serial entrepreneurs who built some of France's most prominent digital companies, ISAI manages approximately EUR 550 million in assets across four investment strategies: early-stage venture capital, late-stage venture capital, private debt, and growth/buyout. ISAI Venture IV targets a total size of EUR 100 million and held its first closing at EUR 75 million — representing three-quarters of the target — in December 2025, with anchor support from Bpifrance and a community of entrepreneur-limited partners drawn from ISAI's extensive alumni network. The fund invests at the pre-seed and seed stages in capital-efficient French and Europe-based technology companies demonstrating early commercial traction or strong product-market fit. Primary tickets range from EUR 1 million to EUR 3 million, with a dedicated pre-seed allocation of 10% of the fund for investments of EUR 100,000 to EUR 500,000 in the earliest-stage opportunities. ISAI's thematic focus for this vintage spans artificial intelligence applications, decarbonisation technologies, marketplace platforms, and SaaS business models with strong unit economics. The fund targets companies positioned to become market leaders in their respective categories, with a geographic mandate of 80% in France and the remainder in US-based ventures founded by French entrepreneurs. ISAI's earlier venture funds produced some of France's most celebrated digital success stories, including early investments in BlaBlaCar, Malt, 360Learning, Prose, Alma, and Flowdesk. This track record has established ISAI as a top-tier French early-stage investor and attracted a high-quality LP base including leading family offices and founder-entrepreneurs from prior portfolio companies. Classified as an Article 8 fund under the EU Sustainable Finance Disclosure Regulation, ISAI Venture IV incorporates environmental and social characteristics into its investment screening process. The fund is currently in active fundraising ahead of its target final close.

Impact America Fund III, LP is a $112 million early-stage venture capital and impact fund managed by Impact America Fund, a 100% Black female-owned investment firm headquartered in Oakland, California. The fund closed in June 2023, at which point the firm's total assets under management reached $177 million across its fund family. General Partner Kesha Cash founded Impact America Fund in 2015 with the thesis that technology-enabled businesses serving Black and Brown workers, families, and small businesses in the United States represent both a significant market opportunity and a pathway to expanding economic agency for underserved communities. The fund is widely recognised as one of the first and most influential impact venture vehicles targeting this demographic, with a track record of market-rate returns combined with measurable social impact outcomes. Impact America Fund III invests at the Seed through Series A stages in technology-enabled businesses that create expanded economic participation for communities of colour across five thematic areas: financial inclusion and wealth-building, healthcare access and affordability, future of work and economic mobility, consumer technology, and housing and community development. The fund plans to invest in approximately 30 companies per fund cycle, with a deliberate preference for founders who have lived experience within the communities they serve — a sourcing and diligence principle that the firm believes produces better founders, stronger community fit, and more durable businesses. The fund targets market-rate financial returns while tracking rigorous impact metrics aligned with its economic empowerment thesis. Impact America Fund III attracted a distinguished roster of institutional limited partners that underscores the depth of market recognition for the firm's approach. Anchor investors included MassMutual, Health Forward Foundation, Cambridge Associates, Pivotal Ventures (Melinda French Gates), and the W.K. Kellogg Foundation. New investors in Fund III included Deutsche Bank, Marguerite Casey Foundation, and Goldman Sachs Asset Management-advised funds, while returning investors included the Ford Foundation, the John D. and Catherine T. MacArthur Foundation (committed $5 million), and the California Wellness Foundation. This LP base reflects broad validation from leading foundations, insurance companies, and financial institutions of Impact America Fund's differentiated access, underwriting capability, and social return thesis.

Impacta Latam VC Fund I is the debut venture capital fund of Impacta VC, a Santiago de Chile-based impact investment firm dedicated to backing early-stage founders across Latin America who are building solutions to pressing social and environmental challenges. Launched in 2021, the fund embodies a community-driven model in which 66 limited partners from six countries — approximately 80% of whom are successful founders themselves — invest alongside Impacta VC as operator-investors. This LP composition gives portfolio founders access to an exceptionally relevant peer network, with anchor LP contributors including Eduardo Della Maggiora (co-founder of Betterfly, Latin America's first social unicorn) and Matias Muchnick (co-founder of NotCo), among other prominent regional entrepreneurs. The fund's investment strategy targets early-stage startups in the seed and Series A stages across Latin America, deploying initial tickets of USD 100,000 to USD 400,000 with the capacity to invest up to USD 1 million per company over multiple follow-on rounds. Impacta VC focuses on founders with strong but progressive ambition, capital-efficient business models — particularly in SaaS and marketplace formats — and a demonstrated ability to generate measurable positive social or environmental impact alongside commercial returns. Primary sectors include agritech and sustainable food systems, inclusive financial services, health technology for underserved populations, education technology, and clean energy solutions for the Latin American market. Impacta Latam VC Fund I has built a portfolio of 11 startups, with investment highlights including Betterfly (social benefits platform, valued at USD 1 billion making it the region's first impact unicorn) and Airbag (road safety technology). As of December 2023, the fund had completed eight investments from the first fund with plans to invest in ten more before the portfolio construction phase concludes. Impacta VC subsequently partnered with Impact Ventures PSM, the impact investment team of Promotora Social Mexico, to launch Impact Ventures PSM Seed — a USD 5 million follow-on vehicle targeting pre-seed startups — extending the Impacta ecosystem's reach into Mexico and Central America.

Impact Ventures PSM Seed is a $5 million pre-seed and seed-stage impact venture fund jointly launched in February 2025 by Impacta VC, a specialist impact investment firm with offices in Santiago de Chile and Montevideo, Uruguay, in strategic alliance with Impact Ventures PSM, the private impact investment arm of Promotora Social México (PSM), a pioneering Mexican social enterprise organisation. The fund marks a significant collaboration between an established Latin American impact investor and one of Mexico's most respected social impact institutions, combining Impacta VC's investment management expertise with PSM's 30-year track record of social innovation and its deep network in Mexican civil society and corporate sectors. The fund targets pre-seed and seed-stage startups across Latin America — primarily Mexico, Chile, Colombia, Argentina, and Brazil — that are building technology-enabled solutions with measurable social or environmental impact. Target sectors include financial inclusion and fintech, digital health and healthcare access, affordable housing and proptech, sustainable agriculture and agritech, education technology, clean energy and climate solutions, and fair trade platforms. Investment ticket sizes range from $100,000 to $300,000 per startup, with a portfolio construction targeting approximately 20 companies. Investment criteria require founding teams to be full-time committed, with scalable and replicable business models in underserved markets and a strong technological component underpinning their value proposition. Impact Ventures PSM Seed is managed by co-managing partners Corinne Lebrun (Impact Ventures PSM) and David Alvo (Impacta VC), combining legal and operational expertise from both organisations. The fund has made its first confirmed investment in Preventix, a Mexican preventive health technology startup focused on cervical cancer early detection via AI-powered diagnostics. By combining Impacta VC's investment methodology — honed across its Chilean and Uruguayan portfolio — with PSM's Mexico-specific impact ecosystem relationships, the fund is positioned as one of the first dedicated impact seed vehicles serving the Mexican and broader Latin American startup ecosystem with institutional-quality investment management and rigorous impact measurement frameworks.

InCred Growth Partners Fund-I (IGPF-I) is the inaugural private equity and growth equity fund of InCred Alternatives, the alternative investment management arm of InCred Group, a leading Indian diversified financial services conglomerate. The fund closed above its INR 500 crore target, achieving total capital commitments of INR 575 crore (approximately USD 69 million) from domestic and international institutional investors, family offices, and high-net-worth individuals. Fund I is managed by investment management veteran Vivek Singla and backed by the broader InCred Group's analytical and distribution infrastructure. IGPF-I focuses on growth equity and late-stage private equity investments in India-based companies across four core themes: consumer businesses benefiting from India's rising middle-class demand, enterprise and B2B services, technology platforms (particularly SaaS, D2C, and platform businesses), and financial services. The fund targets seven to nine portfolio companies, deploying tickets of INR 40-80 crore per investment, and focuses on companies at the Series B and Series C stages with demonstrated revenue traction and a clear path to profitability. India's macro tailwinds—a 1.4-billion-person consumer market, a rapidly expanding digital economy, and supportive government policy through PLI schemes and startup incentives—underpin the fund's investment thesis. IGPF-I demonstrated early portfolio activity by participating in the Series B fundraise of Celebal Technologies, a leading enterprise AI and analytics firm. InCred Group's cross-platform presence in lending, wealth management, and asset management provides portfolio companies with access to broader financial solutions beyond equity investment.

Infinity Ventures, co‑founded in 2021 by former PayPal executives Jeremy Jonker, Jay Ganatra, and Mario Ruiz, operates with a clear thesis: fintech infrastructure and commerce enablement are foundational to the next wave of global digital commerce. With its second fund, the firm doubles down on a model it calls “operators‑first, investors‑second,” meaning its team actively leans into execution, domain relationships, and hands‑on founder support, not just capital. Fund II, totaling $184 million, will allow Infinity to deepen its commitment to B2B fintech and commerce enablement across pre‑seed to Series A rounds. The firm claims to bring industry credibility and senior connections into the dealroom, leveraging decades of operating experience and incumbents’ relationships to help founders scale rapidly. To date, Infinity has backed 23 companies across fintech and commerce stacks. Infinity’s portfolio already spans payments infrastructure, embedded lending, commerce identity, eCommerce analytics, and platform enablement. Each investment reflects their belief that most of financial services and commerce remain under‑digitized. With this new capital, the firm expects to support more transformational founders globally and provide differentiated support beyond the typical value‑add promise. Beyond deploying capital, Infinity positions itself as an extension of its founders’ teams — stepping in where needed on negotiations, customer introductions, execution, and scaling operations. The founders’ past track record at PayPal, plus prior investments and M&A experience, offer credibility and a network; the new fund aims to scale that playbook across more geographies and verticals.

Inflexion's Enterprise Fund VI is a £975 million lower mid-market private equity fund managed by Inflexion, one of the United Kingdom's leading growth-focused private equity firms. The fund achieved its final close in September 2024 in less than five months, hitting its hard cap and attracting commitments almost exclusively from its existing institutional investor base, with participants on average more than doubling their prior vintage commitments. Enterprise Fund VI is Inflexion's dedicated vehicle for investing in smaller, entrepreneurial businesses valued up to £150 million, and at £975 million it is more than double the size of its predecessor Enterprise Fund. Enterprise Fund VI pursues a lower mid-market buyout and growth equity strategy targeting high-growth, entrepreneurial businesses primarily in the United Kingdom and Western Europe, with a sector focus spanning Business Services, Technology, Healthcare, Industrials, Consumer, and Financial Services. The fund takes both majority and minority stakes in portfolio companies and provides access to Inflexion's proprietary Value Acceleration resources, including M&A support, international expansion capabilities, and digital enhancement services. Enterprise Fund VI holds Article 8 status under the EU Sustainable Finance Disclosures Regulation, reflecting Inflexion's commitment to integrating environmental and social considerations across the portfolio lifecycle. Inflexion has deployed capital across more than 175 investments since its founding and has built a strong reputation for accelerating the growth of UK-focused lower-mid-market businesses through operational improvements, management team development, and buy-and-build strategies. The fund draws from an institutional investor base spanning the United States, Europe, Asia, and the Middle East, and its rapid oversubscription reflects sustained demand for Inflexion's differentiated approach. Led by Malcolm Coffin as Head of the Enterprise Fund with Simon Turner as Managing Partner, Enterprise Fund VI won Fundraise of the Year at a major industry awards event and is well-positioned to back the next cohort of high-potential entrepreneurial businesses in the UK growth economy.

Injaro Ghana Venture Capital Fund (IGVCF) is a growth-stage venture fund managed by Injaro Investment Advisors Ltd (IIAL), an investment advisory firm licensed by the Ghana Securities and Exchange Commission and part of an international group that manages over USD 100 million across multiple funds with investments throughout Sub-Saharan Africa. The IGVCF is designed to address the persistent funding gap for high-growth small and medium-sized enterprises (SMEs) in Ghana and Cote d'Ivoire, deploying a flexible mix of equity, quasi-equity, and debt instruments to support established, profitable businesses with strong expansion potential. The fund achieved its final close at GHS 216 million (approximately USD 17.4 million) in December 2023, backed entirely by Ghanaian institutional investors. The fund's investment strategy targets SMEs operating across a range of economically vital sectors including mining support services, food and agribusiness, healthcare, inclusive financial services, education, industrial services, and light manufacturing. Injaro focuses on companies with proven business models, experienced management teams, and the ability to scale domestically and regionally within West Africa. Investments typically combine capital provision with active operational support through Injaro's network of sector specialists and entrepreneurs, reinforcing each portfolio company's capacity to expand, formalise, and create durable employment. The fund targets companies headquartered in Ghana with satellite operations in Cote d'Ivoire, reflecting the two-country geographic mandate. IGVCF's limited partner base is composed entirely of leading Ghanaian institutional investors including GES Pensions, Stanbic Investment Management Services (SIMS), Petra Trust, CAL Asset Management, the Venture Capital Trust Fund, MIIF, AXIS Pension Trust, and Databank — all regulated by Ghana's National Pension Regulatory Authority or the National Insurance Commission. This domestic LP base demonstrates strong institutional confidence in Injaro's management team and Ghanaian private markets more broadly. Injaro's existing portfolio includes investments in DDP (outdoor advertising), NME (packaging and recycling in Cote d'Ivoire), and Zeepay (financial services), illustrating the fund's cross-sector and cross-border diversification thesis.

KKR North America Fund XIII (NAX3) is a $19 billion mega-cap private equity buyout fund managed by KKR & Co. Inc., one of the world's leading global alternative asset managers headquartered in New York. Reaching final close on April 25, 2022, NAX3 was the largest fund in KKR's history at the time of closing, surpassing the firm's previous flagship vehicle, the $17.6 billion KKR 2006 Fund. KKR committed $2.0 billion of its own balance sheet alongside investor capital—one of the most significant GP alignment commitments in the fund's history—reflecting the firm's conviction in its North American investment pipeline and strong alignment of interests with its limited partners. NAX3 is structured as a generalist large-cap buyout fund with a primary geographic mandate across North America, principally the United States and Canada. The fund pursues opportunistic private equity investments across financial services, healthcare, retail, industrials, technology, media, and telecommunications. KKR's investment model emphasises operational value creation through the KKR Capstone operational improvement platform, strategic bolt-on acquisitions, ESG integration, and long-term ownership of market-leading franchises through controlled or significant-minority positions. Despite aggregate investor interest of approximately $24 billion, KKR scaled the fund back to $19 billion to preserve capital deployment selectivity and returns discipline. KKR North America Fund XIII attracted a broad global institutional investor base across public pension funds, sovereign wealth funds, insurance companies, endowments, and family offices. KKR has invested in more than 250 companies across North America over the past four decades, generating over $240 billion in cumulative invested capital globally. NAX3 continues this tradition with a diversified portfolio of control and co-control buyouts in some of North America's most consequential industries, with the fund now in its active investment and value creation phase following the April 2022 close.

KKR North America Fund XIV is the fourteenth flagship buyout fund managed by KKR & Co. Inc., a leading global investment firm. Launched in June 2024, the fund aims to raise $20 billion, slightly exceeding its predecessor, Fund XIII, which closed at $19 billion in March 2022. Fund XIV continues KKR's strategy of investing in large-scale buyouts across various sectors, leveraging the firm's extensive experience and global network.The fund focuses on investments in North America, particularly the United States, Canada, and Mexico, with an additional emphasis on opportunities in Latin America. KKR seeks to deploy capital steadily, targeting an annual deployment rate of 20% to 25% of the fund's total capital. The fund aims for a net internal rate of return (IRR) in the high-teens, reflecting KKR's commitment to delivering strong returns to its investors. Fund XIV has attracted commitments from various institutional investors, including a $365 million commitment from the Oregon State Treasury and a $70 million commitment from Fubon Life Insurance. As of April 2025, KKR has raised approximately 70% of the fund's target, securing $14 billion in its first close.

Leadwind Ventures Fund is a EUR 250 million growth-stage venture capital fund managed by K Fund, the Madrid-based venture capital firm, in partnership with Telefonica. Established in 2022 and headquartered in Spain, Leadwind was created to address the capital gap for technology scale-ups in Southern Europe and Latin America seeking growth capital from Series A through later rounds. The fund completed its final close with backing from institutional limited partners including the ICO Next Tech Fund, which committed approximately EUR 70 million representing roughly 35 percent of the total capital, alongside Telefonica as the principal private sponsor, BBVA Spark, and Catalana Occidente. Leadwind focuses on deeptech companies developing artificial intelligence, machine learning, cybersecurity, fintech, healthtech, and digital infrastructure solutions, prioritising founders with proven product-market fit and recurring revenues progressing toward profitability. The fund targets companies across Spain, Portugal, Italy, and Latin America — regions where ambitious technology scale-ups have historically faced limited access to growth capital at scale — and aims to support global technology winners anchored in Southern Europe and Latin America from their first institutional rounds through international scaling. Ticket sizes support Series A through Series C rounds, enabling the fund to lead or co-lead financing in competitive European and Latin American deeptech companies. An advisory board composed of senior executives from Google, Roku, Devo, Creditas, and other global technology organisations provides portfolio companies with strategic guidance and network access. Leadwind completed a EUR 140 million first closing before achieving its EUR 250 million final close. Its initial portfolio includes Factorial, the Barcelona-based HR management platform serving over 10,000 companies across more than 60 countries; Voicemod, a real-time AI voice technology company; Quibim, a medical imaging data analytics business enabling precision medicine; Digibee, an enterprise integration platform; and nflux, an AI co-pilot for manufacturing assembly. The fund reflects K Fund's broader mission to build a Southern European and Latin American deeptech ecosystem that can compete with US and Northern European counterparts, and represents one of the largest growth-stage venture vehicles focused exclusively on this underserved geography.

KP Select III is the third growth-stage fund in Kleiner Perkins' Select fund series, raised alongside KP21 (the firm's 21st venture fund) in June 2024. With $1.2 billion in capital commitments, KP Select III is among the largest vehicles in the Kleiner Perkins fund family, designed to back high-inflection investments in companies scaling rapidly toward market leadership. The fund is managed by Kleiner Perkins (formerly Kleiner Perkins Caufield & Byers), one of Silicon Valley's most storied and influential venture capital firms with a multi-decade track record of backing category-defining technology and life sciences companies from early stages to IPO and beyond. KP Select III focuses on late-stage and growth-equity investments in technology companies where Kleiner Perkins has identified meaningful inflection points — whether in revenue trajectory, market penetration, or technological capability. The fund's investment thesis is anchored in artificial intelligence, enterprise software, healthcare and life sciences, fintech, and hardtech — sectors where the firm has built deep expertise over five decades of active investing. In contrast to KP21 (which backs companies from the earliest stages with smaller initial checks), KP Select III deploys larger capital tranches into companies that have demonstrated initial product-market fit and are ready to scale aggressively. The fund leverages the full Kleiner Perkins platform, including its global network of portfolio companies, operators, and institutional relationships, to provide growth-stage founders with the strategic support needed to navigate complex expansion phases. Kleiner Perkins has backed some of the most transformative technology companies of the past fifty years, including Amazon, Google, Genentech, AOL, Netscape, and Spotify. The Select fund series builds on this legacy by concentrating follow-on capital in later-stage opportunities where the firm has established the deepest conviction. The launch of KP Select III alongside KP21 reflects Kleiner Perkins' two-pronged 2024 approach: seeding the next generation of category-defining companies through KP21 while deploying growth capital into breakout performers approaching inflection through the Select platform.

KP21 is the 21st venture fund raised by Kleiner Perkins, one of Silicon Valley's most iconic and enduring venture capital firms. Launched in June 2024 alongside KP Select III (the firm's third growth fund), KP21 closed with $825 million in capital commitments and is designed to back early-stage technology companies from inception through the earliest stages of product-market fit. The fund reflects Kleiner Perkins' continued commitment to founding-stage investing in a technology landscape redefined by artificial intelligence and rapid structural transformation across every major industry. KP21 deploys capital into early-stage companies across Kleiner Perkins' core investment verticals: enterprise software, consumer technology, healthcare and life sciences, financial technology, and hardtech. With AI as the defining technological narrative of the current cycle, KP21 places particular emphasis on companies building AI-native applications, infrastructure, and tooling — recognizing the shift from incremental software improvements to foundational reinvention of business processes, scientific discovery, and human-computer interaction. The fund invests from pre-seed through Series A, with typical initial check sizes ranging from $500,000 to $5 million and significant follow-on reserves for top performers. The addition of new partner Leigh Marie Braswell, who joined to lead AI-focused investments, reflects the firm's commitment to maintaining frontier expertise in the discipline most reshaping the venture capital landscape. KP21 represents the continuation of a 50-year investing legacy that includes founding-stage investments in Amazon, Google, Compaq, Netscape, Twitter, Genentech, Snap, and hundreds of other landmark technology companies. The number 21 in the fund's name marks Kleiner Perkins' 21st venture fund — a testament to institutional consistency and cycle-tested investment judgment spanning five decades and multiple technological paradigm shifts. The fund operates in concert with KP Select III, which provides growth capital to double down on KP21's most successful early-stage bets as they scale toward category leadership.

Lakestar Early IV is an early-stage venture capital fund managed by Lakestar. The fund is domiciled the United Kingdom. The fund will focus their investments across geographies, with a focus on Europe in sectors such as AI, digitalisation, deep tech, healthcare, and fintech. The funds are aligned with Lakestar’s commitment to forge a stronger future for Europe by nurturing the region’s innovation and tech ecosystem through the funding of business models which support economic growth and social prosperity. The fund closed in April 2024 together Lakestar Growth II with $600 million.

Lakestar Growth II is a growth venture capital fund managed by Lakestar. The fund is domiciled the United Kingdom. The fund will focus their investments across geographies, with a focus on Europe in sectors such as AI, digitalisation, deep tech, healthcare, and fintech. The funds are aligned with Lakestar’s commitment to forge a stronger future for Europe by nurturing the region’s innovation and tech ecosystem through the funding of business models which support economic growth and social prosperity. The fund closed in April 2024 together Lakestar Early IV II with $600 million.

Latitud Ventures Fund II is a pre-seed and seed-stage venture capital fund managed by Latitud, the San Francisco-based accelerator and venture platform dedicated to Latin America's most ambitious technology founders. The fund raised its first closing in 2023 with strategic backing from notable operators and investors across the Latin American technology ecosystem, including co-investors from Nubank and Kavak. Fund II targets a portfolio of approximately 60 early-stage companies, with approximately $250,000 deployed at pre-seed stage and 25% of committed capital reserved for follow-on investments in the highest-conviction opportunities through seed and Series A rounds. The fund's geographic focus spans Brazil, Mexico, Argentina and the broader Latin American region, targeting founders building technology businesses with global ambition in sectors including fintech, SaaS, marketplace, consumer technology and digital health. Latitud's investment strategy benefits from deep integration with the firm's accelerator program, a community of over 1,000 Latin American founders and operators, and a network of international co-investors that enables portfolio companies to attract cross-border capital for subsequent financing rounds. The predecessor Latitud Ventures Fund I backed companies that went on to raise from marquee global investors including Andreessen Horowitz and SoftBank. Latitud Ventures occupies a distinctive position in the Latin American venture ecosystem as both investor and operational platform, providing portfolio founders with access to talent, corporate partnerships and go-to-market support beyond capital. Fund II targets the pre-seed gap in a region where institutional early-stage capital remains significantly underpenetrated relative to the size and growth rate of the addressable technology market.

Lexington Co-Investment Partners VI (CIP VI) is one of the largest dedicated global co-investment vehicles ever raised, closing on October 28, 2025 with $4.6 billion in committed capital — surpassing both its $4.0 billion target and its predecessor CIP V ($3.5 billion, closed 2021). Managed by Lexington Partners, a subsidiary of Franklin Templeton and one of the world's largest managers of secondary private equity and co-investment funds with over $82 billion in total capitalization, CIP VI is led by one of the industry's most experienced co-investment teams, with partners averaging 22 years of tenure at Lexington. The fund's successful oversubscription reflects broad LP demand for direct equity exposure to institutional private equity transactions across global markets. CIP VI's investment strategy leverages Lexington's 28-year track record in co-investing, selecting best-in-class co-investment opportunities within sponsor-led transactions across North America, Europe, and select other geographies. The fund provides investors with direct equity exposure to private equity and growth equity transactions across all major industry sectors without requiring commitment to multiple primary fund vehicles. CIP VI co-invests alongside more than 200 leading private equity and growth sponsors, constructing a diversified portfolio designed to capture attractive risk-adjusted returns while managing sector and sponsor concentration risk through broad diversification. Since the inception of the Co-Investment Partners program in 1998, Lexington has invested over $10.5 billion across 600+ co-investments, managing approximately $15 billion of cumulative committed capital across eight fund vintages. Lexington's broader transaction experience encompasses completed transactions in excess of $78 billion in total value through more than 1,100 secondary and co-investment transactions acquiring over 4,100 fund interests. The firm's deep relationships with leading sponsors, proprietary deal sourcing, and sophisticated valuation methodologies position CIP VI to deliver diversified exposure to leading PE-backed companies with strong governance and active value creation programs.

Lightspeed Co-Investment Fund I, L.P. is a co-investment vehicle managed by Lightspeed Management Company, L.L.C. (Lightspeed Venture Partners), one of the world's leading multi-stage venture capital firms headquartered at 2200 Sand Hill Road in Menlo Park, California. Founded in 2000, Lightspeed manages over USD 40 billion in assets under management with offices across the United States, Europe, Israel, India and Southeast Asia. The fund's original Form D was filed with the SEC on April 7, 2025 (CIK 0002055513), establishing the 2025 vintage. It reached its final close of USD 601.3 million on December 16, 2025 as part of Lightspeed's record USD 9 billion-plus simultaneous fundraise across six vehicles — the largest capital raise in the firm's 25-year history. The fund is incorporated in Delaware and the GP entities are Lightspeed General Partner Co Investment Fund I, L.L.C. and Lightspeed Management Company, L.L.C., with general partners Arif Janmohamed, Ravi Mhatre and Bejul Somaia. The fund is structured specifically to co-invest alongside Lightspeed's primary managed vehicles — including Lightspeed Venture Partners Fund XV-A (USD 980 million), XV-B (USD 1.2 billion), and the Opportunity Fund III (USD 3.3 billion) — rather than deploying capital independently. This architecture enables select investors to participate directly in specific transactions alongside the flagship funds at high conviction, gaining additional exposure without the full diversification commitment of a primary fund. The fund employs Regulation D exemptions (Rule 506(b), Section 3(c) and 3(c)(7)) and is open to qualified purchasers. As a co-investment vehicle with no independent sector mandate, its exposure mirrors the Lightspeed platform: enterprise software, consumer technology, fintech, healthcare and artificial intelligence across the United States, Europe, Israel, India and Southeast Asia. The fund benefits directly from Lightspeed's 25-year track record and portfolio of over 112 unicorns. Platform companies that co-investors may access include Anthropic, xAI, Databricks, Mistral, Glean, Wiz, Rubrik, Stripe, Snap, Affirm, Epic Games and Grafana. At the time of the 2025 fundraise, Lightspeed had backed 165 AI-native companies, investing over USD 5.5 billion in the category, and returned USD 8 billion from current and active funds over the five preceding years. The co-investment structure positions Lightspeed Co-Investment Fund I as an efficient instrument for investors seeking concentrated exposure to Lightspeed's highest-conviction deployment decisions.

Lightspeed Opportunity Fund III is a $3.3 billion growth and opportunity-focused venture capital fund closed in December 2025, representing the largest single vehicle in Lightspeed's record $9 billion multi-fund raise and the cornerstone of the firm's growth-stage investment strategy. Opportunity Fund III is designed to provide flexible follow-on capital supporting AI startups and category-defining companies through Series C, Series D, and Series E+ rounds, as well as strategic new positions in growth-stage companies across Lightspeed's global portfolio. The fund reflects Lightspeed's conviction that the most significant value creation in AI will occur not only at inception but through the growth-to-scale phase where distribution advantages, customer retention, and data moats compound. Lightspeed's pioneering AI investment expertise directly informs Opportunity Fund III's strategy. Since 2012, the firm has backed 165 AI-native companies with over $5.5 billion deployed across its funds, building a portfolio that includes Anthropic (where Lightspeed is the largest investor in its $3.5B Series E), xAI, Databricks, Mistral, Glean, and Abridge — all now commanding multi-billion-dollar valuations. The Opportunity Fund series enables Lightspeed to deploy larger single checks into companies demonstrating exceptional product-market fit and defensible competitive positions, participating in major financing rounds alongside sovereign wealth funds and other top-tier institutions. The fund operates across Lightspeed's 14-office global platform spanning the United States, Europe, Israel, India, and Southeast Asia. Lightspeed has returned more than $8 billion to limited partners in recent years, with 39 IPOs and 262 acquisitions from the broader portfolio. Recent growth-stage successes include Rubrik (2024 IPO), Affirm ($30B+ market cap at IPO), and strong marks across positions in leading AI infrastructure and application companies. Opportunity Fund III's $3.3 billion mandate — oversubscribed and representing the single largest vehicle in the $9B raise — reflects broad LP confidence in Lightspeed's capacity to identify and support category leaders from seed through market dominance.

Lightspeed Venture Partners Fund XV-A is a $980 million early-stage venture capital fund closed in December 2025, representing the flagship early-stage vehicle of Lightspeed's largest capital raise in its 25-year history — a $9 billion program spanning six simultaneous fund closings. As a pioneer in AI investment since 2012, Lightspeed has deployed more than $5.5 billion across 165 AI-native companies at seed, Series A, and early Series B stages, positioning Fund XV-A to continue this leadership with fresh conviction capital. The fund leverages Lightspeed's global platform spanning 14 offices across the United States, Europe, Israel, India, and Southeast Asia, providing deep local expertise combined with worldwide network effects that few early-stage funds can replicate. Fund XV-A's investment strategy focuses on identifying and backing category-defining AI companies and technology innovators at their earliest stages — from seed through early Series A. The fund applies Lightspeed's signature depth-first approach: depth of commitment (working closely alongside founders from day one), depth of relationships (building authentic long-term partnerships), and depth of belief (staying committed through market cycles). Core sectors of focus include artificial intelligence, enterprise software, fintech, consumer technology, and healthcare. With more than $40 billion in assets under management across all vehicles, Lightspeed provides early-stage founders with not just capital but strategic guidance and access to a portfolio network of over 1,000 companies across sectors and geographies. Lightspeed's track record demonstrates exceptional execution: 39 IPOs and 262 acquisitions from its portfolio, including major exits such as Rubrik (2024 IPO), Affirm ($30B+ market cap at IPO), and Navan. Early investments in Anthropic — where Lightspeed is the largest institutional investor in its $3.5 billion Series E — as well as xAI, Databricks, Mistral, and Glean reflect the firm's consistent ability to identify category leaders at formation. The $9 billion fundraise, of which Fund XV-A represents the dedicated early-stage component, was oversubscribed across all six vehicles, reflecting sustained LP confidence in the firm's ability to generate differentiated venture returns.

Lightspeed Venture Partners Fund XV-B is a $1.2 billion early-to-mid-stage venture capital fund closed in December 2025 as the companion vehicle to Fund XV-A, together forming the core early-stage component of Lightspeed's record $9 billion multi-fund close. While XV-A targets seed and early Series A investments, Fund XV-B is designed for larger Series A rounds and selective Series B opportunities — enabling Lightspeed to maintain ownership concentration and support portfolio companies through their critical scaling phases. Both XV funds share the same investment philosophy and LP base, reflecting the firm's commitment to multi-stage continuity from company formation through growth equity. Fund XV-B leverages Lightspeed's unmatched AI expertise and global platform capabilities. With over $5.5 billion deployed into 165 AI-native companies and founding investments in category leaders such as Anthropic, xAI, Databricks, Mistral, Glean, and Abridge, the fund is positioned to support the next generation of AI companies as they scale through their Series A and Series B milestones. The fund operates across Lightspeed's 14 global offices, providing localized investment expertise, board-level support, and access to a curated network of more than 1,000 portfolio companies for customer introductions, talent recruitment, and strategic partnerships across sectors. Lightspeed's portfolio construction is informed by a 25-year track record: 39 IPOs and 262 acquisitions, including Rubrik (2024 IPO), Affirm ($30B+ IPO valuation), and Navan and Netskope achieving multi-billion-dollar outcomes. The firm has returned more than $8 billion to limited partners in recent years, reflecting strong DPI alongside still-unrealized gains in growth-stage holdings. Fund XV-B, as the larger of the two XV vehicles, will deploy capital into companies in enterprise software, artificial intelligence, fintech, consumer, and healthcare that are demonstrating product-market fit and early revenue traction at Series A and B scale.

Lightspeed Venture Partners Select VI, L.P. is a growth-stage venture capital fund managed by Lightspeed Management Company, L.L.C., operating under the Lightspeed Venture Partners brand. Founded in 2000, Lightspeed is one of the world's leading multi-stage VC firms with over USD 40 billion in AUM across offices in the United States, Europe, Israel, India and Southeast Asia. Select VI is the sixth vehicle in Lightspeed's dedicated growth and follow-on fund series — a lineage that includes Select I (2014, USD 430 million), Select III (2018 vintage), and Select V (2022, USD 2.26 billion). The fund's original Form D was filed with the SEC on December 12, 2024 (CIK 0002044417), establishing the 2024 vintage year. It reached a final close of USD 1.74 billion (announced publicly as approximately USD 1.8 billion) on December 16, 2025, as part of Lightspeed's record USD 9 billion-plus simultaneous fundraise. The slight discrepancy between the SEC amount and announced figures reflects committed-but-not-yet-funded capital, a standard feature of large VC closings. Select VI occupies the growth-stage position in Lightspeed's tiered fund architecture, alongside early-stage flagship funds (Fund XV-A at USD 980 million and XV-B at USD 1.2 billion) and the late/breakout Opportunity Fund III (USD 3.3 billion). The Select series is specifically designed to accelerate existing Lightspeed portfolio companies and selectively back new investments in companies with demonstrated product-market fit at the Series B through Series D+ stages. The fund targets companies globally across Lightspeed's core verticals — enterprise software, AI infrastructure, consumer technology, fintech, healthcare and cybersecurity — with particular emphasis on AI-native category leaders. It also serves a follow-on function, allowing Lightspeed to maintain and increase ownership in breakout portfolio companies as they scale toward IPO or large-scale exit, consistent with the mandate of prior Select funds. Select VI inherits a strong track record from predecessor funds. Select V (USD 2.26 billion, 2022) backed companies including Wiz, Grafana Labs, Navan, Glean, Anthropic, Anduril and Stripe. Across the platform, Lightspeed has backed over 112 unicorns and returned USD 8 billion from current and active funds in the five years preceding the 2025 fundraise, with over USD 3 billion returned in the single year prior to announcement. The firm has invested more than USD 5.5 billion in 165 AI-native companies, positioning Select VI to capture growth-stage upside from early bets on companies like Anthropic, Mistral, Databricks, Glean and Safe Superintelligence (SSI) as they continue to scale.

Linzor Capital Partners II, L.P. (LCP II) is the second private equity fund raised by Linzor Capital Partners, a pan-regional middle-market buyout firm headquartered in Santiago, Chile, with offices in Mexico City, Bogota and Buenos Aires. Founded in 2006 by Tim Purcell, Alfredo Irigoin and Carlos Ingham — all veterans of J.P. Morgan's Latin American direct investment franchise, which they had managed since 1996 — Linzor closed LCP II on July 8, 2011, raising USD 465 million in equity capital commitments, exceeding the original USD 350 million target. The fund attracted commitments from Latin American and international pension plans, endowments, foundations, financial institutions and family offices, with 100% of Fund I limited partners re-investing, including confirmed institutional investor HarbourVest Partners. J.P. Morgan Private Equity Fund Services served as fund administrator and Deloitte and Touche LLP as auditor. The GP entity Tacora Management Company II Ltd. (SEC CRD 162736) is the registered investment adviser. The fund held 61 limited partners as of the final filing with the SEC. LCP II pursues a control-oriented middle-market buyout strategy targeting companies valued at USD 75-400 million across Latin America, with a primary focus on Chile, Mexico, Colombia, Peru and Argentina — explicitly excluding Brazil to maintain focus in Spanish-speaking markets. The fund applies conservative capital structures, deep operational involvement and active value creation programs tied to ESG and sustainability. Sector coverage spans financial services, retail, food, oil and gas services and consumer finance, with ticket sizes typically ranging from USD 20-50 million per platform investment. Linzor's approach targets essential services and businesses with strong demographic tailwinds in sectors often underserved by larger regional managers. LCP II deployed across nine investments. Notable realisations include Devlyn, Mexico's largest eyewear retail chain with over 1,220 points of sale at exit in 2018; Grupo EFE, Peru's leading home appliance retailer and consumer finance platform with over 20% market share, which was exited in January 2025 following a decade-long hold that digitalised the business and expanded its financing arm; Komax, a multi-country apparel and footwear retailer in Chile and Peru; and Onest, a payroll-lending and taxi-financing platform in Colombia. The fund also co-invested in Engen alongside LCP III, Mexico's leading independent equipment leasing and lending platform. The strong track record of LCP II provided the foundation for the subsequent USD 621 million third fund, Linzor Capital Partners III.

Linzor Capital Partners III, L.P. (LCP III) is the third private equity fund raised by Linzor Capital Partners, the leading pan-regional middle-market private equity manager in Spanish-speaking Latin America, headquartered in Santiago, Chile with offices in Mexico City, Bogota and Buenos Aires. The fund held its final close on May 15, 2015, reaching its self-imposed hard cap of USD 621 million in aggregate capital commitments after just six months in the market — a testament to strong institutional demand from both returning and new investors. The fund is managed by Tacora Management Company II Ltd. (CRD 162736), administered by J.P. Morgan Private Equity Fund Services and audited by Deloitte and Touche LLP. The investor base comprised pension funds, asset management firms, insurance companies, sovereign wealth funds, endowments, foundations and family offices, with approximately 40% of capital from the United States, 33% from Europe and 27% from Latin America and Asia Pacific. General partners made significant personal commitments alongside limited partners. LCP III deploys the same disciplined, control-oriented middle-market buyout strategy as prior funds, targeting companies valued at USD 75-400 million in Chile, Mexico, Colombia, Peru and Argentina, with selective exposure to Uruguay and Spain. The fund concentrates on essential services and emerging platform businesses across healthcare, education, telecom and digital infrastructure, financial services and technology — sectors with strong demographic tailwinds and underpenetrated service delivery. With ticket sizes of USD 20-50 million, LCP III targeted 6-10 platform investments, building sector leaders through active operational involvement and ESG integration. The fund strategy evolved from LCP II to reflect Latin America's increasing focus on digital and knowledge-based services. LCP III invested across eight transactions. Notable realisations include Mundo Telecomunicaciones, Chile's fibre-to-the-home provider with over 400,000 subscribers across 2 million homes passed, sold to Digital Bridge in 2022; and S4L (formerly UTEL), Latin America's leading pure-online higher education platform in Mexico, which has returned dividends. Active holdings include Uno Salud, Chile's largest dental chain with 80-plus locations; SIES Salud, a Colombian healthcare services platform; Universidad Insurgentes, a Mexican university serving 23,000 students; and inConcert (Convertia), a Spain and Latin America-based SaaS provider of customer experience and digital marketing solutions. The fund also co-invested in Engen alongside LCP II, Mexico's leading independent equipment leasing platform.

Linzor Capital Partners IV (LCP IV) closed its fourth institutional private equity fund with aggregate capital commitments exceeding $200 million, demonstrating strong investor confidence in Linzor's proven track record across Latin America. Linzor Capital Partners was founded in 2006 by former J.P. Morgan professionals Tim Purcell, Alfredo Irigoin, and Carlos Ingham, and has established itself as one of the leading regional private equity firms focused on mid-market investments across Latin America excluding Brazil. The firm has deployed approximately $1.2 billion across 25 transactions since inception, with offices in Mexico City, Santiago, Bogotá, and Madrid providing deep local market access and management networks across target geographies. LCP IV's investment strategy focuses on acquiring controlling stakes in companies with enterprise values typically ranging from $100 million to $400 million and EBITDA between $10 million and $100 million. The fund targets market-leading businesses across healthcare, fintech, technology, business services, education, and telecommunications — sectors with structural growth tailwinds in Latin American economies. Linzor creates value through operational improvements, strategic acquisitions, and management team strengthening, exiting via strategic sales, IPOs, or recapitalizations. Early LCP IV deployments include Numaris (a Mexico-based SaaS telematics provider serving 3,000+ enterprise clients managing 200,000+ connected vehicles) and a consortium investment in a leading Chilean private health platform alongside Patria Investments and Moneda. Linzor Capital is distinguished by its commitment to ESG and impact investing principles, integrating responsible investing throughout the entire investment lifecycle from screening through exit. The firm prioritizes portfolio companies contributing to sustainable development in areas including financial inclusion, quality education, affordable healthcare, and technology access, with measurable impact metrics tracked across the fund. With approximately $736 million in total assets under management across multiple funds, Linzor combines disciplined capital allocation with a purpose-driven approach to advancing Latin American economic development, making LCP IV a compelling vehicle for investors seeking private equity exposure to high-growth Latin American markets.

M&G Catalyst is a proprietary growth equity and impact investment strategy launched in January 2021 by M&G Investments, the FTSE 100-listed asset manager with over £340 billion in assets under management. Unlike a traditional externally raised closed-end fund, M&G Catalyst was initially seeded from M&G's own With Profits fund and proprietary balance sheet capital, with the firm committing approximately £5 billion to the strategy. The strategy was developed to allow M&G to deploy long-duration proprietary capital directly into private growth-stage companies globally, filling a gap between early-stage VC and traditional large-cap buyout that the firm identified in the UK and European innovation ecosystem. M&G Catalyst invests in private growth-stage companies globally across four thematic pillars: Planetary Health (clean energy, sustainable food, climate technology), Human Health (biotech, diagnostics, digital health), Access & Inclusion (financial services, emerging-market technology, financial inclusion), and Enabling Technologies (semiconductors, AI, space technology, biotech tools). Investments are typically Series B and later, targeting companies with validated business models and clear paths to commercial scale. The strategy operates with a global mandate encompassing the United States, United Kingdom, Europe, Africa, and Southeast Asia, with the team taking lead or co-lead positions in growth rounds. Since its January 2021 launch, M&G Catalyst has invested over £1 billion across 35+ portfolio companies spanning all four thematic pillars, including businesses in climate technology, renewable energy, biotech, AI-enabled healthcare, and financial inclusion in emerging markets. The strategy's portfolio spans 35+ companies with a growing track record of follow-on investments and company maturation. The Catalyst team's performance supported M&G's decision to open the strategy to external institutional investors through the M&G Catalyst Growth Equity Fund I, demonstrating the viability of the impact-first growth equity approach.

M&G Catalyst Growth Equity Fund I is the first externally marketed institutional vehicle through which third-party investors can co-invest alongside M&G Investments' Catalyst growth equity and impact strategy, which has been actively deploying proprietary capital since January 2021. Developed to open access to the proven Catalyst strategy for institutional investors including pension funds and sovereign wealth funds, the fund had secured commitments exceeding $850 million as of its announced close, including a £100 million commitment from the British Business Bank as part of the British Growth Partnership. The fund manager is M&G Investments, the FTSE 100-listed asset manager headquartered in London with over £340 billion in assets under management. M&G Catalyst Growth Equity Fund I invests in private growth-stage companies across four impact themes: Planetary Health (climate technology, clean energy, sustainable food), Human Health (biotech, diagnostics, digital therapeutics), Access & Inclusion (financial inclusion, emerging market technology), and Enabling Technologies (AI, semiconductors, space, biotech tools). Investments typically target Series B and later-stage companies with validated commercial models and measurable environmental or social outcomes. The fund operates with a global mandate with particular emphasis on the United Kingdom, Europe, and high-growth emerging markets, co-investing alongside M&G's proprietary Catalyst capital and benefiting from the deal flow infrastructure of the broader team. M&G Catalyst Growth Equity Fund I draws on the Catalyst strategy's portfolio of 35+ investments built since 2021, with over £1 billion deployed across areas including climate technology, life sciences, digital infrastructure, and financial inclusion. The Catalyst team has demonstrated the ability to lead and co-lead growth-stage rounds and support portfolio companies through successive financing events. British Business Bank participation through the British Growth Partnership adds an institutional validation layer reflecting the fund's alignment with UK innovation and impact policy objectives, and its potential to generate competitive risk-adjusted returns alongside measurable impact.

Main Foundation II is a private equity fund based in The Hague (Netherlands) investing in software growth companies. Main Foundation II closed at its hard caps of €500 million in just 6 months’ time, well past their initial target size. The fund was substantially oversubscribed. Main Foundation invests in high-growth software businesses with equity tickets below €20 million, focusing on organic growth. The fund invests in companies with headquarters in Benelux, DACH and the Nordics. The fund had a re-up rate of 115%. Besides re-ups from existing investors, Main attracted many new investors, amongst which were reputable institutional investors such as APG (on behalf of its client ABP), Tecta Invest and Texas County and District Retirement System. Existing investors, such as Hamilton Lane, increased their commitments.

March Capital Fund III is the third institutional venture capital fund managed by March Capital, a leading enterprise technology-focused venture firm headquartered in Santa Monica, California. The fund reached its final close in January 2021 at $450 million, surpassing its fundraising target with support from both existing limited partners who rolled over from prior funds and a significant cohort of new institutional investors — an outcome described by the firm as remarkable given the challenging macro environment of the COVID-19 pandemic. With Fund III, March Capital crossed $1 billion in aggregate assets under management across its three funds, cementing its position as a prominent enterprise technology investor in the Los Angeles venture ecosystem. The fund is co-managed by founding partners Jamie Montgomery and Sumant Mandal, alongside a team of 15 investment professionals with deep enterprise software expertise. Fund III concentrates on high-growth enterprise technology companies across five primary verticals: enterprise artificial intelligence, industrial technology, cybersecurity, financial technology, and next-generation cloud infrastructure. The fund targets companies primarily at the growth and late stages of development, backing businesses that have demonstrated repeatable enterprise sales motion, strong net revenue retention, and large total addressable markets in B2B software. March Capital applies a disciplined, conviction-based approach, building concentrated portfolios of high-conviction positions in enterprise platforms with the potential to achieve category leadership. The fund reflects a global investment posture: while rooted in Los Angeles and North American enterprise markets, it includes an India-focused investment pillar through partner Rajan Mehra and a gaming and interactive media vertical through partner Gregory Milken, both additions that broadened Fund III's coverage relative to prior funds. March Capital's investment track record encompasses breakout enterprise software companies across its fund family, with investments in companies that have achieved unicorn valuations, strategic acquisitions, and public listings. The firm was founded in 2014 and has consistently backed companies at earlier stages of the growth curve that go on to define enterprise software categories. Fund III was raised during a period of compressed timelines and accelerating digitisation in enterprise IT — dynamics that accelerated demand for the cybersecurity, AI, and cloud infrastructure platforms that March Capital targets. The fund's limited partners include institutional investors that represent major public and private pension funds, endowments, and family offices that prioritise access to top-tier enterprise software returns in the US venture market.

The Mastercard Foundation Africa Growth Fund is a $200 million Fund-of-Funds initiative that supports African-owned and African-led investment vehicles. These vehicles finance early-stage and growth-oriented small and medium-sized enterprises (SMEs) with the aim of fostering inclusive economic development across sub-Saharan Africa. The Fund is deeply focused on enabling dignified and fulfilling work opportunities for young people, especially young women. It accomplishes this by de-risking and strengthening impact investment vehicles that are committed to gender equity and social inclusion. Since its launch in 2022, the Fund has backed 18 investment vehicles operating in 12 African countries, facilitating financing for 49 SMEs and creating more than 2,500 full-time jobs—over 1,100 of which are held by women. Through this structure, the Fund not only boosts access to capital for underrepresented entrepreneurs but also builds the long-term capacity of Africa’s investment ecosystem.

Maven UK Regional Buyout Fund II is a UK-focused lower mid-market buyout fund managed by Maven Capital Partners, one of the United Kingdom's most active private equity firms. Registered as a Private Fund Limited Partnership on March 4, 2024 (Companies House LP023583) and classified as an Article 8 fund under SFDR, the fund targets management buyouts and growth equity investments in profitable, owner-managed UK businesses with enterprise values between 10 million and 50 million pounds. Maven Capital Partners was founded in 2009 and is majority-owned by Mattioli Woods, the UK wealth management group that acquired Maven in 2021. The firm operates from offices across the United Kingdom including London, Edinburgh, Glasgow, Manchester, and Newcastle, giving it significant regional origination capability. Fund II builds on the success of Fund I, which closed at 100 million pounds in April 2019 and generated a strong portfolio of UK SME investments. Fund II's strategy focuses on four primary sectors: technology and technology-enabled business services, financial services, healthcare, and niche IP-led manufacturing. Investments of 10 to 20 million pounds per company target majority ownership stakes, with management teams retaining equity alongside Maven as an active value-creation partner. Confirmed limited partners include Strathclyde Pension Fund (30 million pounds) and Dundee Investment Partnership (30 million pounds). Portfolio investments include Digital Rewards Group, Summize (40 million pounds, January 2026), and Chorus Intelligence (15 million pounds, March 2026).

McCarthy Capital Fund VIII is a lower middle-market private equity fund that achieved its final close in April 2024 at $870 million, exceeding its $700 million target by nearly 25 percent. The fund is managed by McCarthy Capital, an Omaha, Nebraska-based investment firm with more than 35 years of experience partnering with owner-operated and founder-led businesses across the U.S. lower middle market. In September 2025, McCarthy Capital rebranded as M-One Capital, though the fund continues under its original designation. The fund pursues management buyouts, recapitalizations, and growth equity investments in established companies with enterprise values between $25 million and $300 million, deploying equity checks of $30 to $125 million per transaction. Portfolio companies retain meaningful management ownership, and the firm emphasizes organic growth alongside strategic add-on acquisitions. Target sectors include technology-enabled business services, consumer products, healthcare, financial services, and staffing industries, focused on U.S.-based businesses. Committed limited partners include the Nebraska Investment Council ($56 million), Montana Board of Investments ($70 million), and Omaha School Employees Retirement System, alongside insurance companies, endowments, and family offices. Over its 35-year history, McCarthy Capital has completed more than 80 partnerships with lower middle-market companies and maintains offices in Omaha, Nebraska and Wellesley, Massachusetts.

Menlo Ventures XVII is an early-stage venture capital fund managed by Menlo Ventures, legally domiciled in Delaware and headquartered in Menlo Park, California. Officially formed in August 2025, the fund aims to back early-growth technology startups with long-term disruptive potential. The fund is targeting investments in 30 to 40 companies, typically writing checks between $8 million and $15 million. This capital deployment strategy aligns with Menlo Ventures' mission to support startups from seed through early expansion, providing not just capital, but also strategic and operational guidance. The fund’s general partners include prominent investors such as Venky Ganesan, Shawn Carolan, and Matt Murphy, who are key figures in the Menlo Ventures leadership team. Their combined track record includes successful investments in high-profile companies across multiple sectors. Menlo Ventures XVII is part of the firm’s broader strategy to expand its footprint in areas like artificial intelligence, enterprise software, healthcare, and fintech. The fund continues Menlo’s legacy of identifying and supporting companies positioned to lead their industries through innovation.

MindWorks Capital (概念资本, Gàiniàn Zīběn) is a pan-Asia venture capital firm headquartered in Hong Kong, with additional offices in Beijing, Shanghai, and Jakarta. Founded in 2013, MindWorks has built a differentiated cross-border investment platform that bridges Greater China and Southeast Asia — markets with distinct opportunity profiles that reward locally embedded expertise and cross-regional access rather than a single generalist approach. As of its Fund IV close in October 2024, MindWorks manages approximately $1.4 billion in total assets across its fund vehicles, cementing its position as one of the largest dedicated pan-Asia VC firms not affiliated with a major corporate or sovereign institution. MindWorks operates a bifurcated strategy calibrated to the specific stage characteristics of its two core geographies. In Greater China, the firm targets Series A investments in innovative and disruptive companies — backing the highest-conviction early bets before competitive dynamics intensify. In Southeast Asia, MindWorks focuses on Series B-stage companies with proven business models, prioritising logistics technology, financial technology, and enterprise software — sectors where Southeast Asian consumer and SME adoption curves are most rapidly converging toward Chinese and global benchmarks. This stage-geographic alignment allows the firm to deploy capital where its analytical edge is highest and avoid crowded areas. MindWorks Capital Fund IV closed in October 2024 at $220 million, exceeding its $200 million target and reflecting continued LP confidence in the team's track record despite a challenging global VC fundraising environment. The firm's total AUM of $1.4 billion spans five fund vehicles. The LP base includes sovereign wealth funds, university endowments, global asset managers, family offices, and Asia new economy entrepreneurs. Notable portfolio companies include Lalamove (HK:2030), the pan-Asia on-demand logistics platform; XTransfer, the B2B cross-border payments leader serving Chinese exporters; and Qupital, the supply-chain finance platform. MindWorks' portfolio reflects its consistent focus on infrastructure-layer and fintech businesses enabling Asia's intra-regional trade and digital economy.

Minerva Growth Partners II LP is a Japanese growth equity fund established in 2025 and managed by Minerva Growth Partners Inc., a Tokyo-based investment firm co-founded in 2020 by Kei Nagasawa, former Chief Financial Officer of Mercari, Japan's first technology unicorn, and Kensuke Murashima, former Head of Japan and Global Internet Banking at Morgan Stanley. The fund operates in partnership with Pleiad Investment Advisors, a Hong Kong-based, SFC-regulated asset manager founded by former Soros Fund Management specialists Kenneth Lee and Michael Yoshino. Fund II completed its first close on December 1, 2025, raising JPY 7 billion (approximately USD 44 million) against a target of approximately JPY 20 billion. Japan Investment Corporation committed JPY 3 billion at first close; approximately 60 percent or more of first-close capital came from overseas institutional investors including pension funds, family offices, and fund-of-funds gatekeepers. The fund maintains a 10-year duration with optional 2-year extension, targeting a final close in 2026. The fund's investment strategy focuses on late-stage private technology companies in Japan with established product-market fit and a clear pathway to JPY 10 billion or more in annual revenue, with investment tickets ranging from JPY 1 to 3 billion per company. Target sectors include consumer internet, B2B software and SaaS, healthcare technology, and fintech. In addition to minority growth equity stakes, the fund executes crossover investments in listed equities, management buyouts in business succession situations, and take-private transactions, a differentiated mandate aimed at establishing growth equity as a distinct asset class within the Japanese private markets ecosystem.

Motivate Ventures Fund II is the second venture capital fund raised by Motivate Venture Capital, a North American seed and pre-seed investment firm. Announced in November 2023 and totaling $81 million in commitments, Fund II is anchored by two global financial services institutions alongside a returning base of limited partners who have supported the firm since its founding. The fund represents a meaningful step up in scale from Motivate's debut vehicle, reflecting the firm's track record and growing network within early-stage technology ecosystems across the United States and Canada. Fund II targets pre-seed and seed stage technology companies across North America, deploying check sizes from $250,000 to $3 million per investment. The fund maintains a broad mandate within early-stage B2B technology, with particular depth in enterprise software, financial technology, artificial intelligence and machine learning, manufacturing optimization, and supply chain infrastructure. Portfolio construction emphasizes backing diverse and underrepresented founders building high-growth companies, and the firm actively provides portfolio companies with community support, operational guidance, and access to its institutional LP network. As of mid-2024, Motivate Ventures Fund II had deployed capital into at least 23 companies, including Lazarus AI (document intelligence), Reloshare (social services software), Valiot (manufacturing optimization), Moove.ai (transportation), Fin3 (financial technology), Jawnt (transit platforms), Finofo (forex solutions), MarkIII (banking infrastructure), and Inca Digital (financial compliance). The managing partners—including David Wieland and Lauren Pearce—lead the firm from its North American headquarters, leveraging deep relationships across the technology and financial services sectors to source and support competitive early-stage investments.

Mundi Ventures LatAm Fund I is a $100 million venture capital fund dedicated to the next generation of technology-driven companies expanding access to financial and health protection across Latin America and the Caribbean. Managed by Mundi Ventures, a Madrid-headquartered venture capital firm with more than €1.5 billion in assets under management globally, the fund announced its first close in March 2026, anchored by IDB Invest—the private sector investment arm of the Inter-American Development Bank—and COFIDES, Spain's development finance institution, alongside leading regional insurance groups. The strong institutional backing from multilateral development finance reflects confidence in both the fund's financial returns potential and its development impact mandate across the region. Mundi Ventures LatAm Fund I targets early-growth-stage companies from post-Seed to Series B in fintech, insurtech, healthtech, climate technology, and adjacent sectors. The fund plans to deploy approximately $5 million per investment into 12 to 15 portfolio companies across Brazil, Mexico, Colombia, Chile, and Argentina, focusing on businesses with proven product-market fit and annual revenues between $1 million and $3 million. The investment thesis centres on AI-first and deep tech companies building proprietary infrastructure, data-driven underwriting platforms, intelligent risk models, and next-generation embedded distribution channels that can dramatically improve financial inclusion and health protection penetration in a region where insurance penetration and formal financial access significantly lag global benchmarks. The fund is led by General Partner Moises Sanchez and Partner Rafaela Andrade, who bring deep expertise in LatAm insurance ecosystems and technology-driven financial services. Mundi Ventures has already established a nucleus of category-leading portfolio companies through the fund, including Raincoat (parametric insurance platform, Puerto Rico), Sami (digital health insurance platform, Brazil), Betterfly (employee benefits and insurance platform), and Ole Life (digital life insurance), demonstrating the firm's ability to identify and back founders building transformative insurance and fintech businesses across the region. Mundi Ventures LatAm Fund I positions institutional investors for exposure to Latin America's rapidly evolving digital economy through a fund with demonstrable multilateral development finance validation.

The Natixis Direct Lending Fund is a private credit vehicle being established by Natixis SA, the French banking and financial services group, to expand its direct lending capabilities beyond the institution's balance sheet. As of May 2025, Natixis was in advanced discussions to raise approximately $1.5 billion for the fund, with the fundraising expected to conclude within months of that date. The fund represents a strategic evolution for Natixis, whose prior direct lending activity was conducted primarily through balance sheet commitments of up to $25 million per transaction targeting companies likely to become leveraged loan market borrowers. The Natixis Direct Lending Fund targets senior and unitranche loans to highly leveraged corporate borrowers, with a focus on providing scalable credit to mid-to-large companies across European markets. The vehicle is designed to complement Natixis's existing leveraged finance and structured credit capabilities, allowing the institution to deploy third-party capital alongside or in lieu of balance sheet exposure. The strategy enables Natixis to service its corporate lending client base with larger ticket sizes while managing balance sheet risk, addressing demand from institutional investors seeking yield in the private credit space. The fund launch comes following a significant restructuring of Natixis's private credit operations: in September 2024, Natixis Investment Managers divested MV Credit — a pan-European private credit business with approximately $5.1 billion in AUM managing senior direct lending, subordinated lending, hybrid and CLO strategies — to Clearlake Capital Group. The new Direct Lending Fund positions Natixis to rebuild its private credit presence through a focused direct origination strategy anchored in the firm's established European corporate lending relationships.

Nclude is an $85 million fintech-focused venture capital fund established in March 2022 as a joint initiative between Egypt's three largest state-owned banks — Banque Misr (anchor investor), National Bank of Egypt (NBE), and Banque du Caire — in partnership with Global Ventures, a Dubai-based venture capital firm specialising in Middle East and Africa technology investment. The fund received strategic approval from the Central Bank of Egypt (CBE) as part of Egypt's national financial inclusion agenda, with additional LP commitments from eFinance Investment Group and the Egyptian Banks Company. Nclude was explicitly positioned to become the largest investment platform for emerging companies operating in financial technology and adjacent enabling sectors across Egypt, the Middle East, and Africa. Nclude deploys capital into early-stage and growth-stage companies in financial technology and its "feeding sectors" — including digital payments, mobile banking, lending technology, insurance technology, wealth management technology, remittance platforms, and financial data infrastructure — that have the capacity to accelerate financial inclusion and modernise the financial services ecosystem across the MEA region. A defining structural advantage of the fund is the LP base: the three Egyptian state banks collectively serve tens of millions of retail customers and hundreds of thousands of SMEs, providing portfolio companies with unparalleled distribution partnership opportunities, regulatory navigation support, and banking infrastructure access unavailable through conventional independent venture funds. This government-banking-private VC tripartite model mirrors successful fintech fund structures seen in other high-growth emerging markets. Since its March 2022 establishment, Nclude has deployed capital across a portfolio of Egyptian and MEA-region fintech companies, in a market where financial inclusion remains a national development priority and smartphone and internet penetration have created strong conditions for digital financial services adoption. Egypt's young demographic profile, large unbanked population, and rapidly expanding fintech regulatory sandbox have positioned the country as a key fintech hub for the broader Arabic-speaking and African markets. Nclude is managed day-to-day by Global Ventures, which brings established MEA venture capital sourcing and portfolio management expertise alongside the transformative LP relationships with Egypt's banking sector that define the fund's strategic differentiation.

New Mountain Partners VII is a buyout fund managed by New Mountain Capital and located in New York. The fund will acquire controlling stakes in companies valued between $100 million and $1 billion, typically investing between $100 million and $500 million per transaction​. New Mountain Capital targets sectors characterized by sustainable and noncyclical growth, which they refer to as "defensive growth industries." These include life sciences, advanced materials, healthcare technologies, infrastructure services, and digital transformation services, among others. As of APril 2024, the fund has raised US$12.4 billion, above its target of US$12 billion. The fund expects to do around 20 investments.

New Mountain Strategic Equity Fund I, L.P. (SEF I) is the inaugural non-control private equity fund raised by New Mountain Capital, a leading New York-based alternative asset manager with approximately $60 billion in assets under management. SEF I closed in 2020 with approximately $640 million of capital commitments, establishing New Mountain Capital's strategic equity platform as a distinct investment strategy alongside the firm's flagship buyout and credit vehicles. The fund is dedicated to minority, non-control investments in founder- and sponsor-backed businesses across New Mountain Capital's core thematic focus areas, including infrastructure services, life sciences and advanced materials, healthcare technologies, advanced data and analytics, software, financial and insurance services, and technology-enabled business services. Unlike the firm's buyout funds, SEF I operates without seeking operational control, instead partnering with management teams and sponsors to provide capital and operational resources in a collaborative structure designed to preserve entrepreneurial leadership and accelerate growth trajectories. SEF I was the proving ground for a strategy that went on to raise an oversubscribed successor fund. The fund's performance and investor reception directly led to the formation of New Mountain Strategic Equity Fund II, which closed in January 2026 at $1.2 billion — an 88% increase over SEF I — reflecting sustained institutional confidence in the non-control strategy. SEF I is managed within New Mountain Capital's strategic equity team, which applies the same sector-research discipline and business-building philosophy that defines the broader firm platform.

New Mountain Strategic Equity Fund II, L.P. (SEF II) is the second non-control private equity fund raised by New Mountain Capital, a New York-based alternative asset management firm with approximately $60 billion in assets under management across private equity, strategic equity, credit, and net lease real estate strategies. SEF II closed in January 2026 with $1.2 billion in capital commitments, exceeding the fund's $1.0 billion hard cap after limited partners supported an increase in the cap to accommodate the oversubscribed interest. General partner commitments of more than $150 million represented the single largest LP commitment in the fund, reflecting strong GP/LP alignment. SEF II is dedicated to minority, non-control investments in founder- and sponsor-backed businesses, positioning the strategy as partnership-oriented and focused on operational support and business-building rather than control buyouts. The fund targets companies across a defined set of thematic areas where New Mountain has deep sector expertise: infrastructure services, life sciences and advanced materials, healthcare technologies, advanced data and analytics, software, financial and insurance services, and technology-enabled business services. Investments are intended to support organic growth and strategic initiatives while preserving the entrepreneurial ownership structure of portfolio companies. SEF II builds directly on the performance track record established by its predecessor, New Mountain Strategic Equity Fund I, which raised approximately $640 million in 2020. The more than 85% growth between the two funds reflects investor confidence in the strategy and New Mountain Capital's established franchise in the non-control private equity space. The fund is managed by New Mountain Capital's Strategic Equity team, which operates within the same research-driven, business-building culture that defines the firm's flagship buyout funds, extending those capabilities into minority investment structures.

NewView Capital Fund III (NVC III) is the third flagship fund raised by NewView Capital, a Burlingame, California-based venture capital firm specializing in growth-stage investments in enterprise technology and consumer internet companies. NewView Capital was founded in 2018 by Ravi Viswanathan after acquiring 31 companies from NEA via a landmark portfolio acquisition, and has since built a distinctive platform that combines primary venture investment with secondary portfolio acquisition capabilities. The firm manages over $3 billion in total assets under management across its fund family. NVC III focuses on mid- to growth-stage investment opportunities, with a thematic emphasis on business-to-business software-as-a-service (B2B SaaS), financial technology, consumer internet, and artificial intelligence. The fund invests through a combination of primary lead and co-investment rounds, and opportunistic secondary purchases of high-conviction growth companies approaching IPO or acquisition. This hybrid primary-secondary approach, which is core to NewView's differentiated strategy, allows the fund to build concentrated positions in industry-defining companies at multiple stages of their growth journey. NVC III's portfolio includes investments in high-profile companies such as Databricks — a leading data and AI platform — as well as Legora and Coralogix, with the fund's latest investment activity recorded through August 2024. NVC III builds on prior NewView vehicles: NVC Fund I ($1.35 billion, 2018) and NVC Fund II (part of the $544 million raised in February 2022 alongside Special Opportunities Fund I). The firm's unique acquisition-first founding model has positioned NewView Capital as one of the more distinctive growth-stage venture firms in Silicon Valley, with a portfolio construction approach that blends venture fundamentals with private equity-style portfolio management discipline.

About Nexus Ventures VIIINexus Ventures VIII is a $700 million venture capital fund managed by Nexus Venture Partners, one of the most established cross-border early-stage investment firms with a track record spanning nearly two decades in India and the United States. Closing in December 2025 at $700 million, Fund VIII represents the firm's eighth successive vehicle and brings Nexus's total assets under management to $3.2 billion. Menlo Park-based Nexus was founded in 2006 and has consistently backed category-defining companies at their earliest stages—inception, seed, and Series A—across both markets. The majority of Fund VIII's limited partners are returning investors from earlier Nexus funds, underscoring the firm's consistent investment performance and the durability of LP relationships built over nearly twenty years of operation.Nexus Ventures VIII focuses on artificial intelligence, enterprise software, consumer technology, and fintech—sectors where the firm has deep pattern recognition and a track record of identifying winning companies early. Within AI, the fund targets AI stack innovators, developer platforms and tools, open-source infrastructure, and AI agents as high-conviction sub-themes. Nexus brings a distinctive dual-market perspective, leveraging deep networks in Silicon Valley and India's major technology ecosystems to identify founders building companies with the potential to define new categories globally. The firm's access to early-stage deal flow in India—one of the world's fastest-growing pools of tech talent and startup activity—combined with its ability to support US market entry gives Nexus a structural advantage in sourcing and backing companies that can scale across geographies.Since its founding in 2006, Nexus has invested in over 130 portfolio companies and achieved more than 30 exits, including multiple IPOs. Portfolio alumni include Postman, Apollo.io, Zepto, MinIO, Fingerprint, Delhivery, Rapido, Firecrawl, and Avoca, spanning enterprise infrastructure, consumer platforms, and AI-native businesses. With Fund VIII, Nexus continues its strategy of providing founders with patient capital, hands-on operational support, and access to a global network from day one of the partnership. The fund's closing reflects sustained demand for the firm's cross-border VC model at a moment when AI is reshaping software development, consumer behavior, and enterprise operations simultaneously across both the US and Indian markets.

Nordic Capital Evolution Fund (Evolution I) is a €1.2 billion mid-market private equity buyout fund managed by Nordic Capital, a leading sector-specialist private equity firm with a 35-year operational history across the Nordic and Northern European markets. Reaching final close on July 1, 2021, in a record fundraising period of just three months, Evolution I is the inaugural fund in Nordic Capital's dedicated mid-market vehicle series, designed to apply the firm's proven large-cap value creation model to a broader universe of mid-sized European companies. The fund closed at the hard cap and was significantly oversubscribed. Evolution Fund targets control buyout investments in mid-market companies across Northern Europe, with equity commitments typically ranging from EUR 35 million to EUR 150 million and enterprise values of EUR 50 million to EUR 300 million. The fund concentrates on three core sectors aligned with Nordic Capital's institutional expertise: Healthcare; Technology & Payments; and Financial Services. Building on the same value creation toolkit deployed in Nordic Capital's flagship buyout series—emphasising digital transformation, talent development, internationalisation, and operational efficiency—Evolution I seeks to capture structural growth opportunities in the Northern European mid-market, a segment historically underserved by dedicated large-cap buyout vehicles of equivalent quality. The fund attracted a geographically well-diversified institutional investor base with European LPs representing approximately 57% of commitments, followed by Asian investors at 19%, North American investors at 19%, and Middle Eastern investors at approximately 5%. By investor type, asset managers and advisers represent roughly 40%, public and private pension funds 30%, sovereign wealth funds 20%, and endowments and family offices 10%. Evolution I proved the concept for a standalone mid-market series: its successor, Nordic Capital Evolution II, closed at the EUR 2 billion hard cap in December 2024, 65% larger and raised within just four months, confirming deep institutional demand for the strategy.

Nordic Capital Evolution II is a mid-market buyout fund managed by Nordic Capital Advisors, a leading Northern European private equity firm founded in 1989 and headquartered in Jersey with offices across Stockholm, London, Frankfurt, New York, and other major financial centres. The fund achieved its final close on December 20, 2024, raising EUR 2 billion at its hard cap — 65 percent larger than its predecessor, Evolution I, which raised EUR 1.2 billion in 2021. The target of EUR 1.4 billion was substantially exceeded, and the fund was fully subscribed within four months of launch with meaningful excess demand. Institutional investors representing public and private pension funds (41%), asset managers (26%), sovereign wealth funds (14%), family offices and foundations (13%), and financial institutions (6%) committed capital, drawn from Europe (41%), the Americas (35%), Asia (21%), and the Middle East (3%). Nordic Capital manages more than EUR 25 billion in committed capital across its flagship large-cap series and the Evolution mid-market platform. Nordic Capital Evolution II targets control buyouts and non-cyclical growth opportunities in Northern European mid-market companies with enterprise values of EUR 100 million to EUR 400–500 million. The fund applies a subsector-specialist investment model across four core sectors: Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech, with deep operational expertise driving value creation through management support, add-on acquisitions, and strategic repositioning. Structured as an Article 8 fund under the EU Sustainable Finance Disclosure Regulation, it integrates ESG considerations throughout deal sourcing, due diligence, and portfolio management. The fund is domiciled in Luxembourg and primarily targets investments in the Nordic region, with global reach for its Healthcare and Technology & Payments verticals. Evolution II is the second vehicle in Nordic Capital's dedicated mid-market programme, building on the Evolution I franchise launched in 2021. Nordic Capital's broader track record spans over 125 investments across more than 35 years of private equity investing in Northern Europe, including sector-defining platform build-ups in healthcare services, financial software, and B2B services. The Evolution series addresses the EUR 100–500 million enterprise value segment of the market, a distinct tier from Nordic Capital's flagship funds, enabling the firm to capture value-creation opportunities in a less contested part of the buyout landscape while leveraging the full depth of Nordic Capital's sector expertise and operational resources.

Nordic Capital Fund IX is a €4.3 billion private equity buyout fund managed by Nordic Capital, a leading sector-specialist firm headquartered in Jersey with roots dating to 1989. Launched in late 2017 and reaching final close on May 21, 2018, Fund IX surpassed its original €3.5 billion target by 23% in just seven months, underscoring the sustained institutional demand for Nordic Capital's differentiated sector-focused approach. The fund is the ninth vehicle in Nordic Capital's flagship buyout series, continuing a multi-decade track record of control investments in Northern European market leaders. Fund IX deploys capital across five core sectors: Healthcare; Technology & Payments; Financial Services; Consumer & Retail; and Industrial Goods & Services. The investment strategy centres on control buyouts of businesses with defensible market positions, where Nordic Capital's operating model—emphasising digital transformation, internationalisation, and management development—can generate structural value improvement over a typically five- to seven-year hold period. While the primary geographic mandate spans the Nordic and Northern European markets, Fund IX also pursues global healthcare opportunities where Nordic Capital's deep sector expertise provides a meaningful sourcing edge. The fund attracted a geographically diverse institutional investor base: North America (approx. 40%), Europe (35%), Asia (15%), and the Middle East and South America (10%). By investor type, public and private pension funds represent roughly 35% of commitments, sovereign wealth funds 20%, fund-of-funds 15%, family offices 15%, and financial institutions and endowments 15%. More than 70% of commitments came from investors who had backed predecessor Nordic Capital funds, reflecting high conviction in the firm's EUR 26 billion investment track record across approximately 150 companies since inception.

Oak HC/FT Partners I is the inaugural fund of Oak HC/FT, a venture and growth equity firm founded in 2014 by Annie Lamont, Andrew Adams, and Patricia Kemp, who spun out the dedicated healthcare and financial technology investment team from Oak Investment Partners. The fund closed in late 2014 with $500 million in committed capital, establishing Oak HC/FT as a differentiated manager at the intersection of two uniquely complementary and high-growth sectors: healthcare information services and financial services technology. Oak HC/FT Partners I focuses exclusively on technology-driven transformation across healthcare IT—including pharmaceutical services, alternative-care delivery models, and sub-population health solutions—and financial services technology platforms. The fund targets both early-stage ventures and more mature growth-stage companies across the United States, deploying investment tickets of $5 million to $50 million. The team's deep sector expertise, cultivated over decades at Oak Investment Partners, drives a proprietary deal pipeline sourced through strong founder and entrepreneur relationships within both industries. Oak HC/FT Partners I represents the foundation of a firm that has grown to manage over $5.3 billion in assets under management across multiple flagship funds. The early portfolio validated the firm's dual-sector thesis, with the team going on to complete 46 realizations and support 35 portfolio companies that achieved unicorn valuations in excess of $1 billion. The success of Partners I paved the way for successive fundraises: Partners II ($600M, 2017), Partners III ($800M, 2019), Partners IV ($1.4B, 2021), Partners V ($1.9B, 2022), and Partners VI, demonstrating consistent investor confidence in the firm's focused strategy.

Oak Hill Capital Partners VI (OHCP VI) is the sixth flagship buyout fund raised by Oak Hill Capital, a thematic, middle-market private equity firm headquartered in New York. Formed in 2022, OHCP VI closed at approximately $3.5 billion in committed capital, continuing the firm's tradition of concentrated, conviction-based investing in North American middle-market companies with resilient, defensive growth characteristics. Oak Hill Capital was originally established in 1986 by Robert Bass and manages approximately $20 billion in assets under management. Oak Hill Capital Partners VI pursues control-oriented private equity investments targeting equity checks of $100 million to $400 million in businesses with enterprise values generally between $300 million and $2 billion. The fund focuses on three high-conviction thematic clusters: digital infrastructure, financial services, and essential services. This concentrated sectoral approach allows the Oak Hill team to bring deep expertise and operational resources to each portfolio company, targeting businesses in services, industrials, media and communications, and consumer sectors. OHCP VI targets companies that exhibit durable competitive advantages and consistent cash flow generation across economic cycles. OHCP VI builds on the track record of its predecessors, including OHCP V which closed at $3.8 billion in January 2021. Notable OHCP VI investments include Hunter Communications and Wire 3, companies aligned with the digital infrastructure theme, and Petauri Health. The fund is fully invested as the firm has subsequently launched OHCP VII, its seventh flagship fund, to continue the middle-market buyout strategy. Oak Hill Capital has completed over 100 platform investments since inception, demonstrating consistent execution of its thematic private equity approach across multiple market cycles.

Oaktree Direct Lending Evergreen Fund, L.P. (ODLE) is a perpetual-life, evergreen institutional direct lending vehicle launched by Oaktree Capital Management, one of the world's leading alternative investment managers specializing in credit strategies with roots in high yield and distressed debt. The fund completed its first close in October 2025 with approximately $2.35 billion in committed capital, the majority contributed by a broad group of global insurance companies. At first close, ODLE established itself as one of the largest institutional evergreen direct lending strategies to launch globally, reflecting the strong institutional demand for permanent-capital credit vehicles. ODLE primarily makes senior secured, first-lien loans to sponsor-backed, middle-market U.S. companies, with the ability to selectively lend to large-cap and non-sponsor-backed borrowers in the United States and Europe. The fund's evergreen structure is designed to provide institutional clients—particularly insurance companies—with a scalable, continuously accessible vehicle for deploying capital into Oaktree's direct lending capabilities without the constraints of a traditional fixed-life fund. Unlike typical direct lending vehicles, ODLE charges management fees only, with no performance fees, emphasizing income generation and capital preservation. The fund is available in both levered and unlevered versions and carries ratings from two global credit rating agencies. Oaktree Capital Management was founded in 1995 by Howard Marks and Sheldon Stone and manages over $200 billion in assets across credit, private equity, real estate, and infrastructure strategies. ODLE represents a natural expansion of Oaktree's established direct lending franchise, which includes the Oaktree Middle-Market Direct Lending Fund and other dedicated credit vehicles. The fund is managed by Portfolio Manager Raj Makam and the broader Oaktree direct lending team, who bring decades of experience structuring senior secured credit investments through multiple economic cycles.

The Onex Partners V fund is a flagship buy‑out vehicle of Onex Corporation, targeting upper‑middle market companies in North America and Europe. It leverages Onex’s long‑standing private equity platform and deep experience in control investments across business services, consumer, industrial and financial sectors. With an approximate size of US $7.15 billion, the fund is deployed to make controlling equity investments, typically in companies with significant existing scale, strong management teams and sustainable competitive positions. Onex Partners V emphasises a hands‑on approach: partnering with management teams to accelerate growth, operational improvement and strategic expansion, while maintaining discipline in transaction size (targeting roughly US$200‑750 million of equity per deal) and portfolio diversification by sector and geography. The fund’s geographical mandate encompasses the U.S., Canada and Europe, and it focuses on sectors including consumer products & services, financial services and business services (B2B) as well as industrial supplies and parts. The strategy aims to create value through operational initiatives, bolt‑on acquisitions and selective leverage, delivering attractive returns to limited partners.