Kirk Falconer

NewView Capital Fund IV arrives in the market as venture secondaries are heating up, driven by overallocated LPs pressing GPs to expand distributions as a way to replenish capital stocks

LPs in Maverix Growth Equity's debut fund included Bank of Montreal, pension fund BCI, CIBC Capital Markets, Mattamy Asset Management and Venture Ontario.

Of 43% of LPs who commit capital to GP stakes funds, more than half are contemplating investing directly in managers, a new McKinsey & Company survey finds.

'This is the best time ever for investing – and yet it’s hard to get capital,' says Ryan Hinkle, managing director of Insight Partners.

The flagship fund, targeting $12.5bn with a $15bn hard-cap, is expected to hold a final close in the early months of 2025, sources told Buyouts.

The firm is seeking $400m for NewView Capital Fund III and $300m for NewView Capital Special Opportunities Fund III.

Inovia Growth Fund III closed on $300m this month and will now focus on raising the rest of its $450m target.

Ballast aims to provide tailored liquidity solutions to individuals or institutions holding interests in venture-backed companies or growth equity and venture funds.

Dedicated tech funds brought in $33bn in the first half, down 43% from a year earlier, while fund closings, totaling 84, dropped 53%.

CPPIB's new growth equity unit appears to have swallowed up the pension manager's three-year-old venture capital business.