Alt Investments
LGT Capital Partners Says New Venture Fund Is Oversubscribed
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The fund, holding a mix of established and emerging managers, mainly holds primary funds but it also uses secondary investments and co-investments to add exposure where necessary.
Switzerland-based LGT Capital
Partners has announced the final close of Crown Growth
Opportunities IV, its fourth global venture capital fund. The
firm pulled in more than $930 million of subscriptions, beating
its original $750 million target.
The fund invests in a mix of established and emerging
managers. It holds mostly primary funds but will also use
secondaries and co-investments to add exposure to competitive
underlying companies throughout the US, Europe and Asia, LGT
Capital Partners said in a statement.
“Despite the more challenging exit environment, we have continued
to experience attractive realisations and distributions in our
portfolio,” Olivier Meline, a partner at LGT CP, said. “We also
have more than 85 per cent dry powder available to invest in 2023
and future vintages, providing us with a competitive advantage in
capturing new and exciting growth opportunities as they
arise.”
LGT Capital Partners has more than $95 billion in assets under
management and more than 650 institutional clients in 44
countries. It is based in Pfaeffikon, Switzerland, and has
offices around the world.