Robert F. Smith’s Vista Equity Partners has marked off a new milestone.
Axios reports that the private equity firm has raised over $20 billion for its new fund — making the fund its largest to date.
As a platform that invests in technology companies, Vista Equity Partners is set to focus on artificial intelligence (AI). According to the outlet, Smith wrote to investors ahead of Vista Equity Partners’ annual general meeting in April about what they can expect soon.
“You will also hear more about how we have adopted generative artificial intelligence not just as a tool but as a pivotal component of our value creation and underwriting processes,” Smith wrote, per the outlet.
He added, “This has enabled us to identify and capitalize on opportunities, including dramatically expanding TAM [total available market], product innovation, GTM [go-to-market] strategies, with greater precision and speed, ensuring that we stay ahead of the curve in a rapidly evolving market landscape.”
Before its new eighth flagship fund, Vista Equity Partners closed on $17 billion for its seventh fund in 2019, which at a point was “the largest technology-focused private equity vehicle ever raised,” per Bloomberg.
In 2023, Vista Equity Partners celebrated another feat. As previously reported by AFROTECH™, Smith announced that the firm had reached more than $100 billion in assets under management.
“Since Vista was founded over two decades ago, we’ve expanded to 650+ team members operating around the world, built a comprehensive library of enterprise software best practices and much more,” Smith shared on LinkedIn at the time. “...As we look to the future, the values Vista has honed over the years will remain its North Star: a commitment to continuous improvement, a culture of inclusion, and an unwavering belief that every role is critical for our collective success. Cheers to many more years and to all who made this possible.”
Today, Vista Equity Partners has invested in Stats, Ping Identity, Jio, and more.
