L Squared Capital Partners, a Newport Beach, CA-based tech private equity firm, closed its fourth private equity fund, at $840m.
This fundraise received support from existing investors and was supplemented by several new high-quality limited partners that included both institutions and additional large family offices, both domestically and internationally.
L Squared Capital Partners seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services.
The firm, which currently manages ten platform investments across its predecessor three funds, intends to add eight to ten new platform investments within Fund IV while continuing to manage the firm’s portfolio from its predecessor funds. L Squared Capital Partners will continue to focus on majority investments in growing companies based in North America that operate in its sectors of focus.
The firm, which has over $2 billion of equity commitments under management, has completed 17 platform investments and is in the process of closing its 50th add-on transaction, acquiring over $3 billion of enterprise value.
L Squared is managed by Rob Healy, Jeff Farrero, Sean Barrette, Randall Hunt and Adam Kimura, all of whom worked together at Chicago Growth Partners prior to founding the firm in July 2014.