FTV Capital closes $850 million equity fund raise
26 September 2016 | 2011 views | 0
Source: FTV Capital
FTV Capital, a leading growth equity investment firm, today announced the final closing of the firm’s significantly oversubscribed fifth fund, FTV V, L.P. (“FTV V”) , with $850 million in limited partner commitments.
FTV V will continue to focus on high-growth companies with innovative, proven technology and service offerings, established business models and strong management teams that value FTV’s collaborative approach to building great companies. To date, FTV Capital has raised $2.7 billion across five funds and invested in over 90 portfolio companies since the firm’s inception in 1998.
“We are pleased to announce the close of FTV V at our $850 million hard cap,” said Richard Garman, FTV Capital managing partner and head of the firm’s San Francisco office. “We are grateful for the strong support from our existing investors, and we are excited about the opportunity to collaborate with some terrific new limited partners. We have worked long and hard to build an outstanding team at FTV and an institutionalized model that enables us to deliver consistent returns for our limited partners.”
FTV continues to invest in the same core sectors it has been focusing on for 18 years - enterprise technology & services, financial services, and payments & transaction processing - where its market insight, domain expertise, track record and Global Partner Network add significant value to help exceptional, high growth companies continue to accelerate their growth. Often the first institutional investor, FTV target company characteristics include: $10 million to $100 million in revenue, 20 percent plus annual revenue growth, profitable business models, and blue chip enterprise customer and distribution partner validation.
“Market inefficiencies, widespread growth in mobility and global ecommerce, heavy regulatory requirements, and massive demand for digitization are all driving opportunities for companies that are more effectively serving markets vacated by incumbents or that are enabling existing players to innovate more rapidly,” said Brad Bernstein, managing partner at FTV Capital and head of the firm’s New York office. “We view these long-term trends through the lens of the executives in our Global Partner Network. Our team proactively catalyzes investment opportunities with outstanding management teams who have successfully capitalized on these market dynamics and are looking for a financial sponsor offering deep domain expertise and access to our Global Partner Network to accelerate sales.”
“The growth equity asset class has distinct characteristics and a risk- return profile that is compelling during all phases of the economic cycle,” said Karen Derr Gilbert, FTV Capital partner in charge of business development and who led the firm’s fundraising efforts. “The appeal of FTV’s growth strategy was underscored by both existing and new investors during our fundraising process. Our limited partner base is diverse across geography, size, and type, including public and corporate pensions, superannuation funds, insurance companies, family offices, and endowments. We greatly appreciate our existing investors who helped us complete this fundraise very quickly, in support of our continued strong investment pipeline, and we welcome our new limited partners to FTV.”