Bracket Capital Raises $450 Million for Private Market Investing Strategy
Fund II Continues Focus on Identifying Attractive Investment Opportunities in Growth and Later-stage, Technology-enabled Businesses
LOS ANGELES–(BUSINESS WIRE)–Bracket Capital (“Bracket”), a global multi-asset investment manager focused on growth and later-stage, technology-enabled companies, today announced the successful close of its oversubscribed second fund, Bracket Capital Fund II, LP (“Fund II” or the “Fund”) at the Fund’s hard cap of $150 million, exceeding its original $100 million target. Bracket raised an additional $300 million in co-investment vehicles to invest alongside Fund II for a total of at least $450 million in equity to deploy.
Consistent with Bracket’s investment strategy for Fund I, Fund II will invest in private companies through primary funding rounds and secondary market purchases from employees and early investors at these businesses seeking liquidity. Bracket’s differentiated and proven approach positions the firm to capitalize on long-term macro tailwinds as value increasingly accrues to companies within private markets.
Fund II is already being deployed across a diverse set of high-growth companies.
Bracket received support from 100% of its Fund I investor base and welcomed a highly pedigreed set of new investors comprised of leading investment management firms, their owners, as well as international and domestic family offices and global institutions.
Jihan Bowes-Little, Co-founder and Managing Partner of Bracket Capital, said, “We are grateful for the strong support we received for Fund II from our global investor base. Bracket will continue to serve as a trusted partner, not only to early employees at successful pre-IPO companies, but also to the companies themselves. We believe that access to intermediate-term liquidity for employees and investors will continue to be democratized, resulting in win-win opportunities for both investors and operators.”
Yalda Aoukar, Co-founder and Managing Partner of Bracket Capital, said, “As investment partners to some of the world’s leading and forward-thinking, technology-enabled companies, Bracket possesses a unique perspective on markets and the management teams responsible for making outsized impacts on the future of business and the digital world. We have developed a unique reputation in the market given our track record, discerning approach to investing, and deep industry relationships. We thank our new and returning limited partners for their confidence and trust as we act as stewards of their capital.”
Bracket Capital’s inaugural funds, which launched in 2017, invested approximately $200 million in equity capital, including co-investment vehicles. Notable investments include: SpaceX, Airbnb, Clover Health, Palantir, Coinbase, SoFi, eToro, Reddit, Impossible Foods, Bird, Clutter, and Hive.AI, among others.
Bracket also manages the Bracket Foundation, the firm’s venture philanthropy arm that seeks to harness the power of technology for social good, contribute to global conversations on pressing social issues, and raise awareness on how to leverage leading technologies to tackle growing global challenges. The Bracket Foundation is currently engaged with the United Nations on multi-year project to combat online sexual abuse of children using artificial intelligence.
About Bracket Capital
Founded in 2017, Bracket Capital is an alpha-driven global investment manager focused on later-stage, technology enabled companies with asymmetric risk-reward profiles. Bracket leverages decades of buy-side experience at global financial institutions, optimizing returns for investors while providing valuable and necessary liquidity for early employees and investors. Bracket is based in Los Angeles and manages more than $650 million in assets for a diverse set of global investors. For more information, please visit https://www.bracketcapital.com.
Nathaniel Garnick / Emily Meringolo
Gasthalter & Co.