Tech-focused buyout firm Turn/River Capital has soared to a $1.35bn hard cap close for its fifth flagship fund, more than triple the size of its predecessor vehicle.
The firm said Turn/River Capital V would continue its strategy of investing in software and SaaS companies, which has seen it make 25 investments since it was founded a decade ago.
The firm also revealed it had agreed to buy cybersecurity automation company Tufin in a $570m deal.
Turn/River raised $420m for the final close of its fourth fund in 2020, two years after collecting $168m for Fund III.
Read more: Alt Assets
