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TA Associates, a US-based private equity firm that has backed Indian companies such as the National Stock Exchange and Billdesk, has raised $16.5 billion in funding for its latest PE fund.
According to the firm's investment, The funds will be utilized towards investing in companies in the technology, healthcare, financial services, consumer, and business services sectors.
Notably, the firm also said that the round was oversubscribed, exceeding its initial target size. However, the initial size could not be determined.
TA Associates didn't disclose any names of the investors but said that the fund’s limited partners (LPs) comprise public and private pension funds, sovereign wealth funds, asset managers, endowments, foundations, family offices, and insurance companies.
“We are deeply grateful for the strong support of our limited partners during the TA XV fundraise,” said Ajit Nedungadi, Chief Executive Officer at TA. “Amid a period of macroeconomic uncertainty, our investors’ continued trust and confidence in our investment strategy is particularly energizing. We embrace the opportunity to further our strategy, partnering with forward-thinking founders and management teams to build lasting value in exceptional businesses.”
Founded in 1968, TA has invested in more than 560 companies across its target industries, with over 120 companies in the portfolio today. TA’s global team of more than 150 investment professionals are united by a common culture and partnership-oriented approach to investing.
“At TA, we are driven by a shared desire to help exceptional businesses reach their full potential,” said Hythem El-Nazer, Managing Director at TA. “With TA XV, we will continue to leverage our decades of industry experience, strategic value-add resources and extensive global network to support portfolio company management teams as they work to accelerate profitable growth.”
“We thank our limited partners, both returning and new, for their conviction in TA’s investment strategy and culture, and for their thoughtful engagement throughout the fundraising process,” said Andrew Harris, Director of Investor Relations at TA. “With TA XV, we are excited to continue our focus on transparency and alignment with our limited partners as we seek to deliver exceptional results.”
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