Veritas Capital has raised $10.65 billion in capital commitments for its eighth fund to further support its strategy to invest in technology companies that provide critical services and products to government and commercial customers.
The New York-based government investment firm said Wednesday Fund VIII closed within a year and was oversubscribed, surpassing its initial target and hard cap of $8.5 billion.
Ramzi Musallam, CEO and managing partner of Veritas Capital, said the raise of Fund VIII demonstrates the strength of the firm’s strategy, approach and team to advance partnerships with tech companies that deliver products and services to government and industry clients.
“We look forward to pursuing a growing set of opportunities and continuing to make a positive impact across critically important areas, including healthcare, education, and national security,” added Musallam, a seven-time Wash100 awardee.
Veritas said Fund VIII will continue to use the private equity firm’s intellectual property and enable portfolio companies to pursue new business opportunities and expand reach into adjacent market segments.
In 2019, Veritas closed its seventh fund with $6.5 billion in capital commitments.