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Top Tier Capital Partners raises $925 million to invest in its Velocity strategy

SAN FRANCISCO, August 4, 2022 /PRNewswire/ — Top Tier Capital Partners (TTCP) announced today that it has closed the $925 million in new capital commitments for Top Tier Venture Velocity Fund 4 (VVF4), as well as a set of separate accounts, one of which focuses on late-stage climate technology co-investments. As a well-established venture capital firm, TTCP primarily invests in leading venture capital funds and high-growth, expansion-stage software and technology startups across the globe. With these new closures, the company’s total regulatory assets under management increase to more than $8.1 billion.

Led by CEOs Garth Timoll, Sr.and Sean Engel, the new capital commitments will be invested as part of the company’s Venture Velocity strategy. The total amount includes $503.5 million for VVF4, which was created with the aim of continuing TTCP’s previous achievements of investing directly in companies as a co-investor or secondary buyer, as well as buying stakes in venture capital funds on the secondary market. The rest $421 million to invest from related segregated accounts will primarily be used to invest alongside the Velocity program. Velocity’s strategies include investing in vehicles such as venture capital fund secondaries, general partner restructurings, continuation funds, partial portfolio purchases, direct co-investment, side business and tenders.

The closings follow a very active 2021, where TTCP saw 89 IPOs across the firm’s investment portfolio. As one of the oldest asset managers in the space, TTCP has long-standing relationships with some of the most sought-after venture capital fund managers in the world. Led by a dedicated team of investors, the Velocity strategy was originally developed to focus on the investment profile of fund-of-funds, including shorter duration investments than a longer-term fund-of-funds strategy. typical. The Velocity strategy has evolved over the past decade into its own set of dedicated investment funds and, for example, has invested in growth companies such as Anaplan, Draftkings and Smartsheet, and completed transactions such as the fund continuation TTCP led on behalf of B Capital Groupe, earlier this year.

“We are humbled by the opportunity to continue to invest in the Velocity strategy and proud of the franchise we have built,” said Garth Timoll, Sr., Managing Director at Top Tier Capital Partners. “Despite the challenging environment, we are delighted to have closed a new fund and believe our Venture Velocity strategy continues to be an attractive place for Top Tier to invest for the long and short term.”

“In the current environment, we believe it is both financially strategic and morally important to work to increase our investments in climate-focused initiatives,” said Sean Engel, Managing Director at Top Tier Capital Partners. “Our history with our Venture Velocity investment strategy in previous funds allows us to do this, and we are pleased to be in a position where we can directly help companies solve one of the biggest problems of our time. .”

In addition to closures, TTCP also announces internal promotions and the official opening of its new Boston office, located at 101 Arch Street, 18th Floor, Boston, MA 02110, with the general manager Eric Fitzgerald first. Financial director Promise Bhattacharya, who previously led finance and operations for multi-billion dollar funds including SVB Capital, WestBridge Capital and Hall Capital Partners, has been tapped for the additional role of COO. Previously Managing Director at Capstone Partners, Brian De Fee was hired as Director of Corporate Development EMEA, to lead business development in Europe; he is now responsible for the company’s partnerships and capital solutions.

To learn more about Top Tier Capital Partners, please visit www.ttcp.com.

About Top Tier Capital Partners

Top Tier Capital Partners is a world leader in investing in innovation. For more than two decades, TTCP and its predecessor Paul Capital have made global data-driven investments by backing top investors and innovators. Leveraging deep experience and an extensive global network, TTCP makes primary and secondary investments in venture capital funds, as well as direct secondary investments and co-investments in selected portfolio companies. The company’s portfolios of more than 550 fund interests include leading Silicon Valley companies including Andreessen Horowitz, Mayfield Ventures, True Ventures and Accomplice, and direct and indirect exposure to more than 14,000 portfolio companies spanning biotechnology, SaaS software and advanced technologies such as web3. With over $8.1 billion regulatory assets under management, TTCP was designed to spot emerging trends at an early stage, develop longstanding partnerships and deliver optimal returns. Find us in San Francisco, Boston and London and at www.ttcp.com. Follow us @TTCP_SF and on LinkedIn.

Disclaimer: The portfolio companies and funds identified above may not represent all of the investments that TTCP has bought, sold or recommended to the funds. Not all IPOs are profitable; positions may be acquired at a price above or below the price at which TTCP obtained an interest in fund accounts. For a list of all investments, please visit the TTCP website.

Lauren Graffort
PR representative
BuzzKat, Inc. for Premier Partners
lgraffort@gmail.com

This version was published via WebWire®. For more information, visit http://www.webwire.com.

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SOURCE Tier 1 Capital Partners


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