Veritas Capital announced it has raised $15.3 billion in total capital across The Veritas Capital Fund IX and related investment vehicles, closing one of the largest fundraises in a market characterized by extended timelines and tighter allocations.
The firm said the close comes amid a pronounced slowdown in private equity fundraising, with many managers facing a more selective capital environment. Against that backdrop, Veritas described the $15.3 billion raise as a sign of strong investor conviction in its differentiated strategy and long-term performance.
Fund IX represents a meaningful increase over its predecessor vehicles. The firm noted that Fund IX is 40% larger than Fund VIII, which was itself 68% larger than Fund VII, underscoring continued growth and sustained investor confidence in the platform.
Veritas focuses on companies delivering essential software, data, and technology-enabled services across aerospace and defense, national security, healthcare, education, infrastructure, energy, and financial technology. The firm targets sectors where demand is driven by regulation, public policy, and long-term innovation priorities rather than short-term economic cycles.
Since closing Fund IX, Veritas has continued deploying capital across both its Flagship and Vantage strategies. Through its Flagship strategy, the firm recently announced the acquisition of GHX, expanding its presence in healthcare supply chain software and data-driven solutions. The transaction included significant co-investment participation from global institutional partners.
Through its Vantage strategy, which focuses on the large, fragmented middle market, Veritas acquired MetroStar, an AI-enabled digital transformation provider serving U.S. defense and national security agencies. The firm said Vantage enhances its ability to partner with smaller, growing businesses by bringing scaled resources and sector expertise to accelerate growth.
Across its portfolio, Veritas-backed companies have continued to secure major mandates. Most recently, Peraton was awarded a multi-billion-dollar contract supporting a White House-led initiative to modernize the U.S. Federal Aviation Administration’s aging air traffic control systems.
As of September 30, 2025, Veritas manages more than $54 billion in assets and invests at the intersection of technology and government. The firm focuses on mission-critical products, services and software provided to government and commercial customers worldwide, seeking to create value through both organic growth initiatives and strategic acquisitions.
KEY QUOTES
“In a constrained fundraising market, investors are allocating capital selectively. Our ability to raise $15.3 billion underscores the strength of our platform and our investors’ conviction in our ability to outperform. We deploy capital where modernization is structural and complexity creates durable opportunity, positioning us to generate sustained returns across market cycles.”
Ramzi Musallam, CEO and Managing Partner, Veritas Capital
