FTV closes seventh growth fund at $2.3bn

FTV Capital said its latest and largest fund to date was oversubscribed at its hard cap of $2.3 billion, showing investor buy in for its enterprise tech-heavy, high-growth company focus.

The FTV VII investment team will continue the firm’s investment philosophy of making control and significant minority equity investments in companies across the enterprise technology, financial services and payments arenas. With investments ranging from $30 million to $200 million, the firm’s aim is to remain focused on identifying critical trends in the “innovation economy,” as FTV Managing Partner Brad Bernstein recently outlined for Alternatives Watch in our AW 2022 Outlook Series.

“Over the last 24 years, we’ve had the extraordinary privilege of partnering with well over a hundred founders to achieve their strategic objectives,” said Bernstein upon the close of FTV VII. “Our results validate our consistent and time-tested approach: build relationships rooted in trust and collaboration, and support entrepreneurs at every step by leveraging our deep sector expertise, distinctive network and proven value creation platform to help fuel their success.”

With the close of the latest fund, FTV has raised $6.2 billion and invested over $4 billion in 130 portfolio companies since the firm’s founding in 1998.

Officials said that the firm has deployed a record amount of capital since 2020, investing $1.5 billion across 18 new portfolio companies, all of which were proactively sourced by FTV, as well as 15 follow-on investments.

Recent investments include equity in firms such as Embroker, Gale Healthcare Solutions, Lean Solutions Group, LoanPro, Paddle, Plate IQ and Sysnet.

Retired CEO of two FTV exited portfolio companies FleetOne and VPay Andy Roberts commented that FTV’s Global Partner Network really made the difference in addition to offering practical guidance and constructive support. The Global Partner Network is essentially a group of over 500 executives from leading financial services institutions that exchange market insights that help drive targeted commercial outcomes for portfolio companies. FTV Propel is another group that has operational specialists that offers operational guidance to companies in order to ramp up their growth.

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