LGT closes fourth global venture capital fund on USD 930m

Min Ho
17 July 2023

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Switzerland-headquartered asset manager LGT Capital Partners has held a final close of its latest global venture capital fund Crown Growth Opportunities IV on USD 930m, according to a statement.

The fund surpassed its original fundraising target size of USD 750m. The vehicle was registered in 2021, according to Unquote Data.

The predecessor fund in the strategy, Crown Growth Opportunities Global III, raised EUR 326.7m as of December 2019. Similarly, the firm also raised EUR 135.95m in 2019 for its Crown Growth Opportunities Europe III.

In spite of the more challenging exit environment, LGT continues to make "attractive" realisations and distributions in its portfolio. It also has more than 85% dry powder available to invest in 2023 and future vintages, partner Olivier Meline said in the same statement.

Investors
The fund's investor base includes pension funds, endowments, foundations, insurance companies and family offices globally, according to a statement.

Investments
The fund, which makes venture investments through primary funds, secondaries and co-investments in the US, Europe and Asia.

LGT aims to provide access to high quality venture capital opportunities globally, having invested more than USD 10bn since inception, and has established strong relationships with more than 400 venture capital firms globally. The firm benefits from a specialised venture capital team supported by a larger private equity platform, comprised of more than 300 professionals.

People
LGT Capital Partners - Olivier Meline (partner) and Thomas Kristensen (partner).