Top Tier closes on $441 mln for new fund of funds

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Top Tier Capital Partners has closed on $441 million of fresh capital for a venture capital fund of funds.

The San Francisco-based firm said in a pair of filings on Friday that it raised an additional $131 million since the middle of last year for Top Tier Venture Capital VI and Top Tier Venture Capital VI-B. The fundraising exceeded the firm’s target for the combined pool.

In the first filing, Top Tier said it raised an additional $84.8 million since June for Top Tier Venture Capital VI bringing the total raised to $240.9 million. The firm previously had raised $156 million and had a goal of collecting $200 million.

The second filing said it raised an additional $46.2 million for Top Tier Venture Capital VI-B since June bringing the pool to $200.4 million. The firm had previously raised $154.2 million and had a target of $200 million.

The firm declined to comment on the fundraising.

The filings are here and here.

This story first appeared in Reuters Venture Capital Journal. Subscribers can read the entire original story here. To subscribe to VCJ, please email Greg.Winterton@ThomsonReuters.com.

Photo of funding sign from Shutterstock.

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