Lone View Secures $850M for Maiden Tech Fund

Lone View Capital, a growth-oriented private equity firm investing across the technology ecosystem, announced the close of its maiden fund, Lone View Capital Fund I at $850 million, bringing its assets under management to approximately $1.1 billion.

The fund is backed by university endowments, sovereign wealth funds, charitable foundations, pension funds, asset managers, insurance companies and family offices. The New York State Common Retirement Fund recently completed a $25.5 million commitment to the fund through its emerging manager program partner, HarbourVest Partners.

Los Angeles-based Lone View was co-founded by Rishi Chandna and Doug Ceto, who worked closely together at Golden Gate Capital, where they led the software & services vertical. They were also joined by Jim Schaper, a multi-time CEO and former operating executive at Golden Gate Capital.

The fund has already completed platform investments in TREND Health Partners, a credit balance management and payment accuracy solutions for healthcare payers and providers, and Smartlinx, a workforce management software for post-acute and long-term care facilities.

“For over a decade, Rishi, Jim and I have worked hand in hand alongside a talented team of technology investors and operators. We look forward to leveraging our consistent and highly focused approach to capitalize on this attractive market opportunity,” said Doug Ceto, partner at Lone View.