STG Hauls $4.2B for Seventh Software-Focused Fund

Symphony Technology Group (STG) closed its seventh software-focused fund, STG VII, with $4.2 billion in capital commitments, including approximately $4 billion of limited partner commitments, making it the Menlo Park, CA-based firm’s largest raise to date.

Investors in the fund include Los Angeles County Employees’ Retirement Association; Illinois Municipal Retirement Fund; and the Fairfax County Educational Employees’ Supplementary Retirement System.

“We are incredibly grateful to our existing and new investors for their support, especially given the context of the challenging fundraising environment and uncertain macro backdrop,” said William Chisholm, managing partner and chief investment officer.

Founded in 2002, STG has raised nearly $10 billion across its private equity investment funds and has completed more than 100 investments, including both platform and add-on investments.

Evercore Private Funds Group acted as STG’s exclusive global placement agent, and Kirkland & Ellis, LLP served as fund counsel.