Bracket raises $150m for third fund

• Fund III’s investors include prominent global family offices, high-net worth individuals and other investment management firms
• The fund will target later-stage, private, technology-enabled companies through secondary deals
• Based in Los Angeles, Bracket manages more than $1 billion in assets

Bracket Capital has closed its third flagship fund at $150 million.

Bracket also raised an additional $300 million in co-investment and evergreen funds to invest alongside Fund III for a total of $450 million in equity to deploy.

Fund III’s investors include prominent global family offices, high-net worth individuals, and other investment management firms.

The fund will target later-stage, private, technology-enabled companies primarily through secondary market purchases from employees and early investors at these businesses, as well as through special-situation primary investment rounds.

To date, Fund III has made four investments: Stripe, ThatGameCompany, Clutter, and Soundhound, in which the firm led a private investment in public equity deal in late January 2023, becoming one of the company’s largest shareholders.

On the funraising, Yalda Aoukar, co-founder and managing partner of Bracket Capital, said in a statement, “As a first mover, we possess extensive knowledge of the issues facing employees, investors, founders, and management teams at highly innovative, successful late-stage technology companies shaping our digital future. To that end, we seek to serve as a partner of choice for all stakeholders and are proud of our track record as highly complementary and value-added investors to our portfolio companies.”

Based in Los Angeles, Bracket manages more than $1 billion in assets.