About This Fund
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.