About This Fund
Charlesbank Technology Opportunities Fund II is the successor technology-focused private equity vehicle raised by Charlesbank Capital Partners, a Boston-based firm with over $17 billion of capital raised since its founding in 1998. Building on the playbook established with the inaugural Technology Opportunities Fund—which closed in January 2020 at its $700 million hard cap—TOF II continues Charlesbank's commitment to control-oriented private equity investment in lower middle market technology companies across the United States, representing a near-doubling in capital commitment that reflects strong institutional demand and the fund's demonstrated early performance.
The fund targets control-oriented acquisitions and recapitalizations of technology companies with enterprise values primarily between $50 million and $300 million, focusing on businesses that demonstrate defensible business models, predictable financial profiles, and attractive unit economics. Priority investment areas include enterprise software, cybersecurity, cloud infrastructure, financial technology, healthcare IT, and technology-enabled services. Charlesbank's platform value-creation program—comprising operational, commercial, and talent initiatives—is deployed systematically across portfolio companies, supplemented by cross-fund collaboration with the firm's flagship private equity strategy to source, evaluate, and develop investment opportunities.
Charlesbank Technology Opportunities Fund II achieved its final close on June 18, 2024, raising $1.275 billion in total limited partner commitments—surpassing both its $1.1 billion fundraising target and its initial $1.2 billion hard cap. The oversubscription reflects sustained institutional confidence following the successful execution of the predecessor fund and the firm's expanded track record in technology-sector buyouts. The fund's scale increase from $700 million to $1.275 billion positions Charlesbank to pursue a broader range of opportunities within the lower middle market technology landscape, including larger platform acquisitions and more complex carve-out transactions.