JP Morgan’s Private Investment Arm Raises $1B for New Growth Equity Fund

JP Morgan Growth Equity Partners, a private investment arm of JPMorgan Chase & Co focused on late-stage venture and growth equity investments, held the final close of its inaugural Growth Equity Fund, with over $1 billion in capital commitments.

The asset manager plans to invest from the pool, 270 Growth Fund I LP and related vehicles, in software, real estate, financial- and consumer-technology startups up to the point where they may be ready for an initial public offering, according to fund sponsor JP Morgan Growth Equity Partners.

The fund has more than 80% of its capital commitments available to deploy in new investment opportunities.

“We are pleased to have raised in excess of $1 billion for our inaugural fund, particularly in a challenging market environment where only two venture funds over $1 billion were raised last quarter,” said Christopher Dawe, Managing Partner of the Fund. “J.P. Morgan Growth Equity Partners is well positioned to take advantage of the attractive investment opportunities in the current environment.”

Since launching the Fund, GEP has invested in financial services company Plaid, cloud collaboration platform Airtable, API integration platform Codat and compliance automation firm Thoropass.