TA raises $12.5b for 14th flagship fund

The vehicle was launched in January with a target of $10.5 billion and quickly became oversubscribed, according to a statement. TA closed its 13th fund in 2019 with commitments of $8.5 billion, having initially set out to raise $7.5 billion.

Completion of the Fund XIV fundraising process coincides with a $1.5 billion final close on the firm’s second select opportunities vehicle. The strategy is to participate in recapitalizations of high-performing TA portfolio companies that have significant continued growth prospects. Transactions are priced by third parties.

The investment periods for both funds are expected to begin in the second half of 2021.

TA, which makes growth equity investments of $100-600 million across technology, healthcare, financial services, consumer, and business services, established its first Asia office in Mumbai in 2009. A Hong Kong base followed two years later.

The firm is active across the region with Australia, China, India, South Korea, and Southeast Asia. India accounts for the bulk of the Asia activity by number of investments.

New additions to the portfolio in the past 12 months include In.Corp Group, a Singapore-headquartered corporate services provider, Australia-based exchange-traded fund (ETF) manager BetaShares, the National Stock Exchange of India, and Australian corporate insurance provider Honan Insurance.

TA has raised $47.5 billion in capital since its founding in 1968 and deploys about $3 billion per year. It has backed 535 companies, as a majority or minority investor. The firm has more than 100 investment professionals based in Boston, Menlo Park, and London, as well as Mumbai and Hong Kong.

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• Topics
• Fundraising
• GPs
• Growth
• North America
• Asia
• TA Associates