Advent closes second technology fund at $4bn

The $81 billion private equity firm Advent International closed its second global technology fund after a six month fundraise at $4 billion, officials announced today.

Advent Global Technology II exceeded its target by 33% and is double the size of the initial Advent Tech fund, which has invested in 20 companies since its 2019 launch.

The new fund, overseen by a 27-strong team, will back companies focused on high-growth acceleration and complex transformation opportunities in North America and Europe and other global markets where Advent has established a presence. The fund will have . . .

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