Bracket raises $450m for later-stage tech fund

Los Angeles-based Bracket Capital announced the close of its oversubscribed second fund, Bracket Capital Fund II, plus a larger asset raise for co-investment vehicles. The fund’s hard cap of $150 million was hit, while another $300 million was committed to be deployed in co-investment vehicles alongside Fund II for a total asset raise of $450 million. Bracket’s initial fund launched in 2017 and invested approximately $200 million. Notable investments included: Space X, Airbnb, Clover Health, Palantir, Coinbase, SoFi, eToro, Reddit, Impossible Foods, Bird Clutter and Hive AI. “As investment partners to some of the world’s leading and forward-thinking, technology-enabled companies, Bracket possesses a unique perspective on markets and the management teams responsible for making outsized impacts on the future on business and the digital world,” said Yalda Aoukar, co-founder and managing partner of Bracket Capital. “We have developed a unique reputation in the market given our track record, discerning approach to investing, and deep industry relationships.” Fund II’s aims align with Bracket’s initial strategy in that the focus is investing in private companies through primary funding rounds and secondary market purchases from employees and early investors at these businesses seeking liquidity. The firm said its approach capitalizes on long-term macro tailwinds as value increasingly accrues to companies within private markets. Bracket’s venture philanthropy arm, the Bracket Foundation, seeks to harness the power of technology for social good and raise awareness on how to leverage leading technologies to tackle growing global challenges. Currently the foundation is involved with the United Nations for a multi-year project that seeks to combat online childhood sexual abuse via artificial intelligence.

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