New Funds Launched in July 2025: From Form D Filings

August 18, 2025

New Fund Launches | July 2025

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New private markets funds kicked off the second half of the year weaker than they closed the first half, based on confirmed and estimated targets, with Dakota tracking new funds targeting approximately $80B in July, compared with $225B in June. Private equity still led the pack with a combined target of nearly $60B, though that was slightly less than half the $130B tracked in June. New venture funds came next, targeting approximately $13B, followed by real estate and real assets ($5.3B) and private credit ($3.1B).

Still, the month featured plenty of megafunds across multiple asset classes. British investment firm Permira launched its latest flagship vehicle with a target of €17B ($20B), which if achieved would make Permira IX the largest in the firm’s history. Leonard Green & Partners also started marketing its 10th flagship fund, Green Equity Investors X, with an objective of raising roughly the same amount as its buyout-focused predecessor, which closed in 2022 with $15.2B in total capital commitments.

Conditions remained tough in July for global private markets, characterized by fewer deals and exits, as well as continued geopolitical instability and trade policy uncertainty. Despite that, fund managers including Brookfield Asset Management and TPG are forecasting better fundraising for 2025 versus the prior year, citing strong first-half momentum.

Reflecting similar confidence, Blackstone is looking to expand the scope of its fundraising to cover life sciences, opportunistic credit, GP stakes, and tactical opportunities. The world’s largest alternative asset manager was also reported to be considering an expansion of its secondaries strategy to the private credit space. Currently, the alternative investment manager’s $87B Strategic Partners secondaries unit only focuses on private equity, infrastructure, and real estate.

Private credit, in particular, is expected to remain appealing to investors. Schroders’ survey of global investors found that private debt and credit alternatives are viewed as something of a safe haven, particularly by investors in North America. "In an environment defined by uncertainty, inefficiency, and volatile risk premiums, the ability to select well-collateralized debt, backed by strong borrowers and robust security packages, is a significant advantage of private debt and alternative credit markets," commented Michelle Russell-Dowe, co-head of private debt and credit alternatives at Schroders Capital.

Read on for a full rundown of all the month’s new private markets funds.

Private Equity

New York-based Odyssey Investment Partners reportedly commenced marketing to potential investors a single-asset continuation fund dedicated to Industrial Electric Mfg., a manufacturer of electrical distribution equipment and integrated power systems in the US. The private equity firm invested in the company through its $3.25B Odyssey Investment Partners Fund VI.
Littlejohn & Co. notified the SEC of its plan to open for subscription Littlejohn Fund VII, indicating that the fundraise will not last more than a year, with Finex Hong Kong, Gencap Global Advisors, Raymond James & Associates, and Allen Partners assisting in the marketing of the investment vehicle. Fund VII will follow Littlejohn Fund VI, which closed oversubscribed in 2018 with $2.84B in total capital commitments against a $2.5B target.
Meeting minutes from the Plymouth County Retirement Association showed that Reverence Capital is aiming to raise what could be its largest fund yet, with a target of $2.75B for Reverence Capital Partners PE Opportunities Fund IV. The fund reportedly received a commitment of $200M from the Connecticut Retirement Plans and Trust Funds.
Private markets investment firm StepStone Group registered its sixth dedicated co-investment fund, a follow-up to StepStone Capital Partners V, which closed at $2.36B in 2022. StepStone Capital Partners VI is intended to be on offer for more than a year and will be marketed with the assistance of Hanwha Investment & Securities and Banco BICE, according to a filing with the SEC.
Middle market-focused investment firm Ridgemont Equity Partners filed with the SEC for Ridgemont Equity Partners V, which will be marketed with the assistance of Evercore Group. The fund follows Ridgemont Equity Partners IV, which closed in 2022 at its hard cap of $2.35B against a target of $2B.
New Mountain Capital is reportedly seeking up to $2B for its first dedicated secondaries fund. New Mountain has begun marketing the new fund alongside co-investment vehicles allowing investors to deploy capital into specific transactions.
European private equity firm Seven2 is aiming to raise €1.6B ($1.89B) for its new flagship fund, Seven2 MidMarket Fund XI. The fund will target majority investments in mid-size companies across Europe, with a focus on sectors in the business-to-business technology and services sectors. The firm also announced that it appointed Thomas de Villeneuve as chairman and CEO, succeeding Eddie Misrahi.
Revelstoke Capital Partners filed with the SEC for its fourth private equity flagship fund, Revelstoke Capital Partners Fund IV, which will be promoted with the help of Houlihan Lokey Capital and Atlantic - Pacific Capital, with $10M allocated for sales commissions. Dakota data shows the Arkansas Teacher Retirement System committed $35M to Fund IV, which will follow the $1.7B Revelstoke Capital Partners Fund III.
Alternative asset manager Tikehau Capital launched its first private equity continuation fund dedicated to architecture, consulting, construction engineering and operating firm Egis. The new fund received more than €1B ($1.17B) from a consortium led by the Abu Dhabi Investment Authority, Apollo S3, Neuberger Berman-managed funds, and the second vintage under Tikehau’s private equity decarbonization strategy.
Gemcorp Capital is aiming to raise $1B for an Abu Dhabi-based fund that will target private credit deals in Africa in an effort to grow its total AUM in the Gulf Cooperation Council. Gemcorp Partner Asad Hajiyev said the fund, which will be raised for several years, will invest in deals in the $20M to $100M range, with a focus on sectors including energy, agriculture and commodities.
Carol Fong, Group CEO at CGS International, said the bank is planning to launch a Southeast Asia-focused private equity fund in 2026 with investment capacity of up to $1B. The bank, a subsidiary of Chinese state-owned lender China Galaxy Securities, will invest the fund in sectors including healthcare, artificial intelligence, advanced manufacturing, renewable energy, and consumer.
Renewables-focused investor NextEnergy Capital reportedly started the “soft marketing” of its sophomore fund roughly four months after closing its debut fund with £733M ($979.5M) in total commitments. Ross Grier, the firm's CIO, said interest in the strategy from UK local government pension schemes prompted the early launch of the second fund.
Brookfield AM's flagship listed private equity vehicle, Brookfield Business Partners, has launched an open-ended private equity fund for high-net-worth investors, seeding it with $690M of minority interests in three BBP portfolio companies — engineered components manufacturing business DexKo, dealer software and technology services business CDK Global, and work access services business BrandSafway.
Pacific Avenue Capital Partners filed with the SEC for Pacific Avenue Fund II, which will be marketed across the US with the assistance of Lazard Frères & Co. The fund follows Pacific Avenue Fund I, which closed in May 2023 with more than $500M of capital commitments deployed for corporate divestitures and other "complex situations" in the middle market.
50T, the combined brand of growth equity firms 10T Holdings and 1RoundTable Partners, launched 50T Fund V, a 10-year closed-end fund with $500M in capital for growth equity investments. The fund is scheduled to have its first close in the fourth quarter.
Wavecrest Growth Partners is aiming to raise $450M for Wavecrest Growth Partners III, according to a filing with the SEC. Fund III follows Wavecrest Growth Partners II, which closed in 2021 with $290M earmarked for growth-stage business-to-business technology companies.
J-Inc, a new private equity firm in Japan focused on the middle market, is reportedly targeting ¥60B ($398.7M) for its debut fund. The investment vehicle had a first close of ¥20B ($132.9M) with support from Japan-based investors, and J-Inc is reportedly reaching out to global institutional investors for additional support for the fund.
Tecum Capital secured regulatory approval from the US Small Business Administration for a fourth small business investment company fund with more than $325M of investable capital. The fund will make mezzanine loans and minority stake purchases, allocating between $5M and $20M for every transaction.
Credit Suisse Asset Management's growth investment arm, Next Investors, filed with the SEC for NEXT Investors Fund III, which will be marketed with the help of Invicta Capital. Fund III follows NEXT Investors II, which closed in 2018 with $261M for investments in growth-oriented technology and financial services businesses.
Pantera Capital-backed Ondo Catalyst launched with $250M in capital earmarked for the development of onchain capital markets, with a focus on startups developing financial applications that drive utility, scalability, and adoption of tokenized assets.
Confectionery, pet food, and food products company Mars unveiled Mars Sustainability Investment Fund with $250M of investment capital. The fund will invest in companies developing solutions for sustainability challenges in the company’s value chain, with a focus on the areas of advanced agriculture, ingredients and raw materials, and packaging.
Clessidra Group’s private equity arm, Clessidra Private Equity, launched a closed-end alternative investment fund with a target of €150M ($174.3M) and a hard cap of €200M ($232.4M). Clessidra Capital Partners Green Harvest will target small and medium-sized companies in Italy’s agrifood sector.
In collaboration with pan-Asia alternative asset manager Templewater, Future Fund Oman launched a new fund dedicated to supporting energy transition initiatives in the sultanate. The partners each committed $100M to the Energy Transition Fund, which will invest in high-impact sectors including clean molecules, energy storage, renewables, and green data centers.
Swiss asset manager Smart Wealth Asset Management launched an Irish Collective Asset-management Vehicle (ICAV) with an initial $100M from European LPs. The ICAV, comprising the SW Multi Asset AI Flagship Fund and the SW Global Equity Plus AI Fund, is aiming to collect more than $2B of investment capital over the next three years from institutional and professional investors in Europe, the Middle East, and Asia, particularly Australia.
CICC Capital, the private equity investment arm of China International Capital Corp., is reportedly teaming up with the government agency Malaysia Digital Economy Corp. to launch an up to $100M fund dedicated to Malaysia’s gaming industry.
BTA Finance teamed up with EIGHTClouds to launch EIGHTClouds GCC Healthcare Fund, a $50M closed-ended exempt fund that will target healthcare-related opportunities in the private equity market of the Gulf region, with a focus on the United Arab Emirates and Saudi Arabia. The fund is offered exclusively to qualified investors.
Fair Aim Capital launched a new fund with £30M ($40.3M) of investment capacity for small and medium-sized enterprises across the UK. The fund will support revenue acceleration initiatives of businesses with EBITDA in the £1M to £3M ($1.3M to $4M) range through the optimization of artificial intelligence and digital marketing.
Hamilton Lane unveiled Hamilton Lane Asia Private Assets Fund, a semi-liquid private equity vehicle focused on Asia's private markets. The fund, which will primarily target direct investment and secondary investment opportunities, expands the private markets investment firm's $11B global evergreen platform.
French carmaker Renault’s electric vehicle business Ampere agreed with collaborators from China to establish an investment fund focused on the sector. The fund will focus on areas including batteries, smart driving, smart cockpits, and embodied intelligence.
William Paus, head of wealth and asset management at SEB Asset Management, said the Swedish asset manager will launch a Europe-focused defense, security, and resilience fund "after summer," citing high client demand.
Schroders Capital launched an evergreen fund and a closed-ended fund under amended regulations for European long-term investment funds. The open-ended Schroders Capital Semi-Liquid Global Private Equity Eltif will deploy capital through co-investments and GP-led secondaries, while the closed ended Global Direct IV Access will invest alongside the $700M co-investment fund Global Direct IV throughout its nine-year term.
Ares Management reportedly commenced talks with potential investors about a new media and entertainment fund, with CEO Michael Arougheti saying this type of fund has been requested by financial advisors. The fund will target capital from wealthy individual investors and will make debt and equity investments in sports, leagues, teams, and sports-related businesses, as well as entertainment companies.
Private investment firm Ardian unveiled Luxembourg-based Ardian Access SICAV-RAIF, which offers investors access to $110B of assets that the firm manages through its secondaries, primaries, and co-investment platforms. The fund is being offered to professional investors worldwide with the minimum investment set at €100K ($115.3K).
Capital Group and KKR are awaiting regulatory approval for a plan to expand their joint offering of interval funds designed to boost private markets access for retail investors. Building on the April launch of two public-private credit interval funds, the global investment firms are now looking to launch a public-private equity interval fund in the US in early 2026. In tandem with announcing the SEC application for the new fund, the firms also disclosed plans to further expand their collaboration to real estate and possibly model portfolios, target date funds and other investment areas.

Private Credit

BlackRock officially launched a new private credit platform built around its $12B acquisition of HPS Investment Partners, which closed on July 1, in a move that provides it with expanded capabilities to capitalize on the growing shift from traditional bank lending to capital markets financing. The new platform, BlackRock Private Financing Solutions (PFS), brings together the firm’s private credit, GP and LP solutions, and private and liquid CLO businesses into a single operation managing $190B in private credit client assets and providing capital formation and liquidity solutions to private markets firms.
Brookfield AM’’s venture fund manager, Pinegrove Capital Partners, is reportedly seeking $800M for a credit fund that will target senior secured venture debt to venture capital-backed companies. The Innovation Credit Growth Fund X is targeting net returns between $13% and 17%.
Private real estate investment and asset management firm The Ardent Companies unveiled Ardent Financial Fund VI with investment capacity of $600M. The fund originates and acquires credit assets guaranteed with real estate, tapping into opportunities linked to the construction, development, redevelopment and value-add plans for major property projects, primarily across high-barrier markets.
Star Mountain Capital formally launched Star Mountain Lower Middle-Market Secondary Fund III, which will acquire LP interests and loan portfolios of lower-middle-market credit funds across the US. The specialized asset manager’s founder, Brett Hickey, said the fund has so far raised $96M, bringing it closer to its target of $500M, with a close planned for the second quarter of 2026.
Stride Ventures unveiled what would be its largest domestic fund with a $300M target for its Fund IV. The fund will focus on the consumer, financial services, and clean technology sectors, according to Apoorva Sharma, managing partner at the venture debt firm.
Saudi-based asset manager SAB Invest is aiming to raise SAR 1B ($266.6M) for its SAB Invest MENA Private Credit Strategy, which will invest in private credit opportunities across Saudi Arabia and the wider Gulf Cooperation Council. The fund will reportedly be raised over the next six to 12 months, with initial commitments from investors, including institutions, family offices, asset managers, and high-net-worth individuals.
Sura Investments, the wealth management and corporate solutions business of Colombia-based Sura Asset Management, is reportedly aiming to raise $200M for a direct lending fund that will target opportunities in Latin America. Roughly 10% of the fund is allocated to alternative investments, including infrastructure, real estate, and private debt.
Utah-based investment firm Wasatch Health launched a structured capital fund with a target of $150M. The fund will provide flexible and minimally dilutive financing to healthcare companies navigating key inflection points in their growth.
Hong Kong-based credit manager Flow Capital Partners unveiled a new Asia-focused credit master fund with $125M in capital. The fund reportedly supports the firm’s plan to expand across other parts of Asia from just Hong Kong and China.
Florida-based alternative asset manager Scipio Capital Advisors is aiming to raise $100M in total from the synergistic investment vehicles SCA Principal Alpha Fund and SCA Equity Alpha Fund. The funds are only available to accredited investors seeking to capitalize on the dislocation of the private credit and distressed asset markets.
Fournel Advisory founding partner Pierre-Jean Esmieu-Fournel unveiled the MidCap Corporate Debt Fund, which will target middle-market companies specializing in environmental, social, and governance (ESG). The fund has a first-close target of €50M ($58.5M).
Goldman Sachs Asset Management, through the Goldman Sachs Trust Co., is developing a private credit collective investment trust for retirement plans as anticipation heats up for when DC plans in the US will be allowed to invest in private markets. Expected to be formally launched in the fourth quarter, the Goldman Sachs Collective Trust – Private Credit Fund will offer investors exposure to the asset management firm’s $142B private credit platform, including direct lending and private placements in North America and Europe.

Real Assets

Amid its continuous expansion in the Asia Pacific, Stonepeak Partners filed with the SEC for its second infrastructure fund dedicated to the region. Stonepeak Asia Infrastructure Fund II. The real-assets-focused alternative investment firm’s latest fund will follow Stonepeak Asia Infrastructure Fund, which closed in March 2024 oversubscribed at $3.3B against a $3B target.
Infrastructure-focused Asian independent private equity firm Seraya Partners filed with the SEC for Seraya Partners Fund II, which will be marketed across the US with the help of William Blair & Co. The new fund follows Seraya Partners Fund I, which closed oversubscribed in 2023 with $800M in total capital commitments earmarked for mid-market infrastructure platform, with a focus on energy transition and digital infrastructure.
Real estate investment firm The Wolff Co. filed for Wolff Credit Partners IV. The fund’s predecessor, Wolff Credit Partners III, closed in 2021 with $510M invested in multifamily development assets across the US.
Umm Al Qura for Development and Construction Company entered into a memorandum of understanding with Aljazira Capital and Naif Alrajhi Investment for the establishment of a private real estate fund with an investment capacity of SAR1.4B ($373.3M). Aljazira will manage the fund, while Naif Alrajhi will oversee the development of properties that the fund will back.
Hamilton Point Investments is aiming to raise $175M for HPI Real Estate Fund XV, which is being offered with the minimum investment set at $50K. The real estate private equity firm’s HPI Real Estate Fund XIV reportedly targeted $200M for the acquisition of multifamily properties from distressed sellers.
Middleburg Communities filed with the SEC for Middleburg GP Fund III, its follow-up to Middleburg GP Fund II, which closed in 2024 with $53M in total capital commitments. The real estate investment firm has so far raised $41M of its $100M target for the fund, which made its first sale on June 30 and has a minimum investment of $1M.
BNP Paribas Real Estate Investment Management (BNP Paribas REIM) unveiled the Spa Property Fund in collaboration with QC Spa of Wonders, manager and operator of a chain of spas and hotels in Italy. QC Spa, in addition to being an investor, will serve as the exclusive operator of the fund’s properties. Currently, the fund holds properties worth €120M ($139.4M), with a plan to grow its portfolio to €300M ($348.4M).
Property investor Erskine Owen marked the launch of its latest commercial property fund with the acquisition of a NZD 24M ($14M) smart logistics facility in New Zealand. The transaction kicks off Erskine Owen Veritas Property Fund's plan to build a NZD 1B ($590M) portfolio across multiple sectors by 2030.

Venture Capital

San Francisco-based Greenoaks reportedly secured $2.5B in capital commitments through the oversubscribed fundraise for its sixth venture capital fund.
Long-time technology investor Elad Gil is reportedly raising a $1.5B fund as a solo venture capitalist. Depending on investor interest, the fund, dubbed Cosmic — Aleph 3, could raise up to $2B earmarked for the next wave of technological innovations.
Renewable energy-focused Sandbrook Capital filed with the SEC for Sandbrook Climate Infrastructure Fund II, its follow-up to Sandbrook Climate Infrastructure Fund I, which closed oversubscribed in 2023 at $1.5B against a $1B target. The firm has received a $125M commitment from the New Mexico State Investment Council for the new fund, according to Dakota data.
Four venture capital firms in China reportedly launched US-dollar denominated funds with combined targets surpassing $1B. The deep tech-focused LightSpeed China Partners is targeting $400M, Monolith Management is gunning for $265M for its sophomore fund, BA Capital is aiming for $150M, and Ince Capital is seeking $200M.
Catalio Capital Management raised its fourth venture fund with more than $400M in commitments across the main fund and related co-investment vehicles, with support from existing and new global institutional investors, RIAs, foundations, and endowments. The healthcare investment firm’s Catalio Nexus Fund IV closed with 16 investments in breakthrough biomedical technologies.
Point72 Asset Management is reportedly aiming to raise $400M for its inaugural venture capital fund, with at least $100M to be sourced from GP Steve Cohen. The fund, expected to close in the first half of 2026, will primarily support seed or Series A investments in defense, space, energy, and security startups.
Matt Miller, a former partner at Sequoia Capital, has reportedly raised at least $355M for a venture capital fund with a $400M target size. Sequoia is investing in the London-based fund along with institutional investors and entrepreneurs.
Red Dot Capital Partners unveiled its Fund III with $320M of investment capital earmarked for investments in growth-stage technology-driven startups. The Israel-focused venture capital firm launched the fund with a portfolio comprising Finout, Stigg, Oligo Security, and BRIA AI.
Cyberstarts launched its Employee Liquidity Fund with $300M of investment capacity earmarked for the acquisition of employees’ interest in breakout companies within its portfolio. Including the new fund, the early-stage cybersecurity venture firm has so far raised more than $1B in total across six funds.
Climate technology-focused venture capital firm WovenEarth Ventures marked the initial close of its second fund of funds with $81M in capital commitments. With a target of $300M, WovenEarth Fund II opened for subscription in November 2024, marketed with the assistance of Big Path Capital and Crito Capital.
Japanese lender Sumitomo Mitsui Banking Corp. teamed up with asset management company Fin Capital to launch a corporate venture capital fund that will invest in financial technology startups across the US. With an investment capacity of $300M, SMBC Fin Atlas Beyond Fund has a lifetime of 10 years and will focus on the sectors of stack, insurance technology, risk technology, vertical fintech, and artificial intelligence infrastructure.
Boldstart Ventures GP founder Ed Sim said the firm raised $250M for its seventh seed fund, which will be invested in technical founders focused on enterprise customers.
Morgan Stanley Investment Management’s multi-manager private markets platform completed the fundraise for its first standalone venture capital fund with $280M in total capital commitments, surpassing a target of $250M. Morgan Stanley Private Equity Solutions’ North Haven Venture Capital Opportunities Fund I will invest in startups with high-growth potential across North America, Asia, and Europe.
Peachtree Group launched Peachtree Special Situations Fund with $250M in investment capital for mispriced and high-quality commercial properties, particularly hotels. The fund will focus nationwide, and Peachtree expects to hold its first close within the next 60 to 90 days and complete the final close within 18 months following the initial close.
Team8 Capital filed with the SEC for Team8 Capital III, its follow up to Team8 Capital II, which closed at $235M in 2024. The third iteration of the firm’s venture-capital fund strategy invests in seed and Series A funding rounds of startups in sectors including cybersecurity, enterprise infrastructure, financial technology, and digital health.
Israeli investment firm Glilot Capital Partners filed with the SEC for Glilot Capital Partners V. The firm closed its fourth fund in 2022, collecting $220M for investments in seed-stage startups in the cybersecurity, enterprise software, and developer tools sectors.
Seed-stage investor Equal Ventures is aiming to raise $200M in total across Equal Ventures 3 and Equal Ventures Opportunity 2, according to separate filings with the SEC. In 2024, the firm raised $100M for Equal Ventures 2 and $75M for Equal Ventures Opportunity 1, both of which pursued seed investment opportunities in the climate, insurance, retail and supply chain spaces.
Japan-focused biotech venture capital firm AN Venture Partners closed its inaugural fund at the target amount of $200M. AN Venture Partners I received support from more than 20 investors led by Japan Investment Corp., Shionogi & Co., Otsuka Pharmaceutical, MUFG Bank, and Sumitomo Mitsui Banking.
Private equity fund Nzyme completed its fundraising with €160M ($187.1M) in capital commitments. With backing from investors including Kibo Ventures, the fund will target established businesses with EBITDA in the range of €10M to €20M ($11.7M to $23.4M), with a focus on the business services and software sectors.
Neotribe Ventures set a $150M target for Neotribe Ventures III, its follow-up to the $220M Neotribe Ventures Fund II and $138M Neotribe Ventures Fund I. According to a filing with the SEC, the latest fundraise is not planned to last more than a year.
Dubai-based venture capital firm Middle East Venture Partners closed its fourth investment vehicle that will target tech startups in the Middle East. The Middle East-focused firm launched Middle East Venture Fund IV in February 2023 with a $150M target and an anchor $27M investment from the European Investment Bank.
Floating Point is aiming to raise $120M for Floating Point III, according to a filing with the SEC. The early-stage venture capital firm closed its sophomore fund in 2024, with $70M in capital commitments.
Danish private equity firm Blue Equity is expected to launch its fourth fund in the second half of 2025. The firm, which invests in small and medium-sized industrial and commercial companies, reportedly raised DKK750M ($117.5M) for its third fund.
Eni Next, the corporate venture capital company of Italian energy company Eni, teamed up with European asset manager Azimut Group to launch a venture capital fund compliant with the updated European long-term investment fund regime. The partners are expected to formally launch the fund in September with a target of €100M ($117.8M) for initiatives to support the energy technology sector.
The National University of Singapore, through its entrepreneurial arm NUS Enterprise, launched a venture capital program with S$150M ($117M) earmarked for early-stage technology ventures across Asia.
Climate change-focused Dutch venture capital fund Shift Invest secured €92M ($108M) in total capital at the initial closing of its fourth fund, which will invest in pre-seed and seed-stage new tech companies in the sectors of energy, industry, mobility, food, and agriculture. Targeting a final close of €150M ($176M), the fund secured commitments from investors including the European Investment Fund and Rabo Investments.
Inflection Point Ventures launched a Category 1 angel fund with an investment capacity of $110M. The sector-agnostic IPV International had its first close in April and targets early-stage to pre-series A startups, allocating between $100K and $1M for each transaction.
Mantis Venture Capital, a venture capital firm started by The Chainsmokers’ Alex Pall and Drew Taggart, secured $100M in capital commitments at closing of its Fund III, bringing the total capital it has raised across its three funds to $225M. The fund focuses on early-stage technology, giving Mantis the capacity to further grow its portfolio of more than 170 companies.
Ego Death Capital secured $100M in capital commitments for its second fund, which will be invested in Bitcoin-focused software startups. The fund will primarily invest in Series A funding rounds with a small portion earmarked for early-stage investments, with a focus on companies that generate revenue between $1M and $3M.
W Health Ventures is expected to hold a first close for its sophomore fund in the coming weeks. The fund, which reportedly will have an investment capacity of $100M, will target early-stage healthcare investments in both India and the US.
Technology investor Yaletown Partners raised $100M at the first close of Innovation Growth Fund III, boosting its total active funds under management to $600M. Targeting $250M and with support from new and existing investors, the fund will invest in digital infrastructure technologies including advanced analytics, edge computing, networking, and physical artificial intelligence.
Early-stage venture capital firm Altai Ventures is aiming to raise $100M for Altai Ventures Fund III, according to a filing with the SEC. The fund, which has a minimum investment requirement of $125K, follows Altai Ventures Fund II, which closed oversubscribed in 2023 at $53M against a $50M target.
Financial conglomerate Mizuho Financial Group bagged ¥14.3B ($97.5M) for an early-stage fund co-managed with payments startup Upsider. The fund received commitments from seven financial institutions in Japan, including lender Sumitomo Mitsui Trust Bank and insurer Fukoku Mutual Life Insurance.
Albuquerque, NM-based venture capital firm Deciens Capital's total AUM increased to $290M after completing the fundraise for its third fund with $93M in total capital commitments. At closing, Fund III has four companies in its portfolio, and it is looking to execute 12 to 15 investments in total, with a focus on founders driving the transformation of financial services.
Houston-based venture capital firm Modi Ventures completed the fundraise for its second fund with $88M in total capital commitments, more than double its debut fund. Targeting companies at the intersection of artificial intelligence, biology, and medicine, the fund closed with initial investments in Lila Sciences, RTW Royalty Fund, Ignota Labs, Latus Bio, and Flagship Pioneering.
Japanese lender Fukuoka Financial Group’s corporate venture capital arm, FFG Venture Business Partners, and SBI Investment jointly launched a venture capital fund with investment capacity of ¥9B ($61.8M). The newly launched fund will reportedly target “cutting-edge technologies and business ideas,” including artificial intelligence.
Drive by DraftKings, a multi-stage venture capital firm focused on sports technology and entertainment, is preparing to launch its sophomore fund, which will focus on the real money gaming sector, particularly in the infrastructure, new formats, and next-generation studios spaces. The firm’s debut fund raised $60M in just six months in 2021, with backing from investors including The Kraft Group, the Jones family, DraftKings, Madison Square Garden Sports Corp., Madison Square Garden Entertainment Corp., Arctos Sports Partners, Todd Boehly, and Mike Gordon.
Dutch venture capital firm CapitalIT marked the initial close of its sophomore fund with commitments from existing and new investors. With a €50M ($58.5M) target, Fund II will invest in early-stage businesses, with a focus on the areas of climate technology and future of work.
Ukrainian venture capital firm Flyer One Ventures raised €50M ($58.4M) for its Fund V, which will invest in early-stage technology companies across Ukraine and the wider Central and Eastern Europe region. The fund reportedly received commitments from the International Finance Corp. and the European Bank for Reconstruction and Development.
Germany-based TechVision Fonds closed its second fund with €50M ($58.3M) earmarked for seed and seed-stage funding rounds of technology startups in the German state of North Rhine-Westphalia and the Euregio Meuse-Rhine region of Europe. With backing from regional banks in Europe and other investors, TechVision Fund II will invest until 2035.
Sweden-based Behold Ventures, which invests in video game startups, completed the oversubscribed fundraise for its inaugural fund with capital commitments of $58.2M.
Sticker Ventures marked the first close of its inaugural fund with $50M in total commitments for Israeli-founded consumer startups, particularly those developing consumer applications, marketplaces, artificial intelligence-driven services, and e-commerce brands. The early-stage fund received support from investors including family offices and GPs at venture capital firms in the US and Israel.
Bluehill VC co-founder and GP Manu Iyer said the firm is aiming to raise INR 3.50B ($40.4M) for its inaugural fund, which is scheduled to close by the end of 2025. With plans to invest in four to five companies annually, the Indian deep-tech investor’s debut fund has so far secured INR 2.25B ($25.9M).
Singapore-based purpose-driven longevity fund Immortal Dragons reportedly launched with $40M of AUM. The fund launched with completed investments in more than 15 startups in the longevity sector, with a focus on the areas of replacement and regeneration, gene therapy, 3D bioprinting, and longevity infrastructure.
Ventures.eu held a first close for its inaugural venture capital fund, Ventures.eu Fund I, in collaboration with Dealflow.eu. Targeting €30M ($34.3M), the fund will invest in early-stage startups in Portugal and the wider Europe using capital from investors including US Golden Visa and some of the largest corporations in Europe.
Berlin-based Auxxo marked the initial closing of Auxxo Female Catalyst Fund II with €26M ($30.3M) in capital commitments, including an anchor investment from the European Investment Fund and pledges from Aurum Impact, Cherry Ventures, Speedinvest and other investors across Europe. The investment vehicle will support startups with at least one female founder.
Deep-tech-focused early-stage investor Java Capital is reportedly targeting INR 2.50B ($28.8M) for its second fund, which is likely to hold its initial closing in August. The targeted amount would put the new fund significantly ahead of its predecessor, which closed in 2023 at INR 500M ($5.8M).
European early-stage investor BlackWood completed the fundraise for its inaugural fund with more than $25M in capital commitments. At closing, the fund has so far completed investments in 19 companies across nine countries in Europe.
Celero Ventures opened up for subscription a $25M early-stage fund that will target 20 to 25 artificial intelligence and data infrastructure startups in the UK and the wider Europe. The venture capital firm launched the fund 25% subscribed with anchor investments from its founders.
Icehouse Ventures, a venture capital firm based in New Zealand, hit the halfway point of its NZ$30M ($17.8M) target for Seed Fund IV, with NZ$15M ($8.9) raised for the fourth flagship early-stage fund. The fund will support technology startups across the country, with a goal of investing in up to 30 over the next three to four years.
GreenSky Ventures closed its sixth fund with CAD 23.5M ($17.1M) in total capital commitments earmarked for early-stage Canadian businesses in the business-to-business, deep technology, and enterprise software sectors. The final size of Fund VI makes it a record for the firm, which until the recent fundraise, listed its CAD 21M ($15.3M) fifth fund as its largest.
Sarah Smith, formerly an investor at Graph Ventures and Bain Capital Ventures, closed Sarah Smith Fund I at $16M. The closing of the fund advances Smith's plan to establish an artificial intelligence-driven solo GP firm that will provide customized people operations support. Smith said the firm's investments are based on the thesis that "exceptional returns come from backing 'irrationally intense' founder CEOs" with "relentless drive."
Ahmedabad, India-based Kettleborough VC raised INR 350M ($4.1M) at the first close of its second fund, receiving commitments from family offices and entrepreneurs across India and the US. Targeting INR 800M ($9.3M), the fund is looking to complete its first few investments over the coming weeks.
Salone Sehgal, founder and managing partner at Lumikai Fund, an India-based VC fund focused on media and gaming, announced the closing of Fund II with strong support from existing investors.