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Transformation Capital racks up $800m for third fund

Transformation Capital has closed its third fund at a hard cap of $800 million, beating its $700 million fund.

Transformation Capital has closed its third fund at a hard cap of $800 million, beating its $700 million fund. Kirkland & Ellis advised Transformation Capital. The Boston-based firm is focused on health tech companies.

PRESS RELEASE

Kirkland & Ellis advised Transformation Capital, a Boston-based firm focused on health tech companies, on the close of Transformation Capital III, which was oversubscribed at its hard cap of $800 million in capital commitments, exceeding its $700 million target in a single closing. With the close of Transformation Capital III, Transformation Capital has now raised over $1.6 billion since the firm was founded in 2016 by former Sequoia Capital and Bain Capital Ventures investment partners.

The Kirkland team was led by investment funds partners Daniel Lavon-Krein, Matthew Smith, and Jonathan Lipnick, and investment funds regulatory solutions partner Alpa Patel, with involvement from tax partners Stanley Ramsay and Michael Greenberg, investment funds associates Charles Chen, Sarah Anischik and Aubrey Trudeau, law clerk Afsha Lakdawala, tax associate Ashley Flor, investment funds regulatory solutions partner Marian Grace Fowler and associate Anna-Kay Richards, financial services regulatory partners Colin Sharpsmith, Lisa Cowley and Prem Mohan, and paralegals Ashley Elizabeth Hamilton, Sven Soderberg, Thomas Charles King, Jonathon Marc Pelter, Charles Francis and Ranjan Guniganti.