Volition\’s Larry Cheng on trying to raise a fund right now: \”All of the LPs felt more constrained\”

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Volition Capital, a 13-year-old, 30-person Boston-based growth equity firm, recently announced it has closed its fifth fund with $675 million in capital commitments, bringing its total assets under management to $1.7 billion. Despite the pandemic, the firm experienced an influx of inbound demand from existing limited partners, who offered to increase their commitments. The firm is known for its early investment in the pet marketplace Chewy, which sold to PetSmart for a whopping $3.35 billion in 2017. Volition\’s partners focus on internet and consumer deals, as well as enterprise software. Recently, the firm has made contrarian bets on ad tech, and has invested in the no-code, low-code software platform Creatio. Volition typically writes checks in the range of $10 million to $50 million, with $20 million to $30 million being their sweet spot. It\’s clear that the firm has a proven track record and is well positioned for the future. Be sure to follow Volition Capital on Facebook to stay up to date on their latest deals.

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