New York firm Veritas Capital closed its eighth fund with $10.65 billion as demand for technology investments continues among institutional investors.
Veritas Capital Fund VIII counts the Virginia Retirement System, Pennsylvania State Employees Retirement System, Texas County & District Retirement System, State of Michigan Retirement System, Indiana Public Employees Retirement System, Oregon Public Employees Retirement Fund and the Los Angeles County Retirement Association among its investors.
“We are grateful to our global base of investors for their continued confidence, and we appreciate additional support from a number of new partners,” said Ramzi Musallam, CEO and managing partner of Veritas Capital. “The successful raise of Fund VIII demonstrates the enduring strength of Veritas’ differentiated team, strategy, and approach, enabling partnerships with technology and technology-enabled companies that provide critical products and services to government and commercial customers throughout the world. We look forward to pursuing a growing set of opportunities and continuing to make a positive impact across critically important areas, including healthcare, education, and national security.”
Fund VIII will continue leveraging the firm’s proprietary intellectual property and applying its playbook that has been in place over the last 25 years. The strategy is to drive strategic and transformational growth across its portfolio companies, allowing them to target larger addressable markets, expand into adjacent market segments, capitalize on new and compelling business opportunities, and making them more valuable in their ecosystems.
Veritas notable recent investments include Sequa Corporation, Houghton Mifflin Harcourt Company, Coronis Health, Grant Thornton Public Sector and Chromalloy.
