Level Equity announced the final close of Level Structured Capital III, L.P., securing $293.5 million in total capital commitments and exceeding its original $225 million fundraising target. The fund was oversubscribed, reflecting strong participation from existing investors and new institutional backers.
The new fund continues Level Structured Capital’s strategy of partnering with high-growth, capital-efficient software businesses through flexible structured credit and equity solutions designed to minimize dilution. The capital will be deployed to support companies seeking funding to accelerate growth initiatives, pursue acquisitions, or provide liquidity to shareholders.
Level Equity said the closing marks the completion of a broader fundraising cycle across the firm’s strategies. Over the past 18 months, the firm has raised $2 billion across its equity and credit funds and co-investment vehicles.
The firm focuses on providing expansion capital to rapidly growing software companies through both growth equity and structured capital strategies. Since its founding, Level has raised more than $5 billion in capital commitments and generated over $2.2 billion of liquidity across 71 realizations. As of March 11, 2026, the firm manages more than $6.4 billion in assets and has completed more than 125 investments.
Level works closely with portfolio company management teams through its in-house operating platform, NextLevel Operations, which is designed to support long-term value creation.
KEY QUOTES
“Level has raised $2 billion in the last 18 months across our equity and credit funds and co-investments. We were pleased to complete the fundraising cycle with LSC III well above target. It is always flattering and exciting to raise fresh capital and this is another great milestone for both our firm and our structured capital business.”
Ben Levin, Co-Founder And CEO, Level Equity
