Updata Partners has closed Updata Partners VIII, L.P., with $875 million in aggregate capital commitments, marking the largest fund in the firm’s history. The Washington, D.C.–based growth equity firm exceeded its target and reached its hard cap in six months, reflecting strong backing from both existing and new limited partners.
With the close of Fund VIII, Updata has raised more than $3.0 billion in capital commitments across prior funds and co-investments. The firm focuses on capital-efficient B2B software companies and was founded by operators from the software industry.
Updata said it will continue its hands-on investment strategy through Fund VIII, partnering with high-performing software businesses. The firm’s Value Creation team works closely with founders and leadership teams on initiatives including team buildout, product and technology leadership, and go-to-market execution.
The firm makes both majority and minority investments, typically committing between $20 million and $200 million per company. Updata often serves as the first institutional capital investor and concentrates on high-growth opportunities outside Silicon Valley.
Gunderson Dettmer served as legal counsel for the fundraise, and UBS Private Funds Group acted as placement agent.
KEY QUOTES
“We are incredibly grateful for the strong support from our limited partners. The pace and outcome of this fundraise reflect the trust built over many years. We look forward to partnering with both longstanding investors and new LPs in Updata VIII.”
Carter Griffin, General Partner, Updata Partners
“With Updata VIII, we remain focused on backing software companies with strong fundamentals and dynamic growth profiles. AI is accelerating the formation of high-growth, lightly capitalized businesses, and we are excited to support the entrepreneurs building the next generation of market leaders.”
Jon Seeber, General Partner, Updata Partners
