True Wind Capital has closed its second fund at $817 million. True Wind Capital II’s limited partners include pension funds, asset managers, foundations, endowments, family offices, and technology industry leaders across North America, Europe, and Asia. The San Francisco-based private equity firm invests in tech companies.
SAN FRANCISCO, November 11, 2021 — True Wind Capital (“True Wind” or “the Company”), a San Francisco-based private equity firm focused on investing in leading technology companies, today announced the successful close of its second fund, True Wind Capital II, L.P., (“Fund II” or the “Fund”) with $817 million in equity commitments, exceeding the Fund’s target.
True Wind was launched in 2015 by Adam Clammer and James H. Greene, Jr., who previously founded and led KKR’s Global Technology Group. Fund II will continue True Wind’s strategy of partnering with strong management teams and investing in leading technology companies across niche sectors within large and growing markets, including software, data analytics, tech-enabled services, internet, financial technology, and hardware.
True Wind received significant support from existing Limited Partners from Fund I and added many new, notable LPs. The Company’s Fund II LP base consists of leading pension funds, asset managers, foundations, endowments, family offices, and technology industry leaders across North America, Europe, and Asia.
Adam Clammer, Founding Partner of True Wind, said, “We are grateful for the continued confidence and strong support we received for Fund II from a diverse group of new and existing high caliber investors. True Wind continues to distinguish itself as a leading technology-focused investor by bringing large cap experience to the lower middle market and positioning our portfolio companies for enduring success.”
Notable investments already in Fund II include the acquisition of AIA Contract Documents, a premier provider of gold-standard, customizable contracts for the architecture, engineering and construction industries that enhance legal workflow, and Rover Group (NASDAQ: ROVR), a leading marketplace for pet services in the U.S.
James H. Greene, Jr., Founding Partner of True Wind, added, “True Wind continues to leverage our seasoned team’s operational capabilities and proven ability to source attractive investment opportunities. We look forward to continuing to provide our portfolio companies and their management teams with the investment capital and long-term strategic and operational support they need to scale and continue innovating.”
True Wind’s first fund raised $558 million in 2017. Notable Fund I investments include Open Lending (NASDAQ: LPRO), Sysnet Global Solutions, Zix (NASDAQ: ZIXI), Transflo, and LeadVenture.
About True Wind Capital
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. Founded in 2015, True Wind has completed 10 platform investments and 20 add-on acquisitions. For more information, please visit https://www.truewindcapital.com.