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True Wind Capital Closes Second Fund

San Francisco-based technology-focused private equity firm True Wind Capital has closed its second fund. True Wind Capital II, L.P., gathered $817mn in equity commitments, exceeding the Fund’s target.

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.”

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, 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 $558mn in 2017. The firm was launched in 2015 by Clammer and Greene, Jr., who previously founded and led KKR’s Global Technology Group.

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