J.P. Morgan Growth Equity Partners Closes Inaugural Growth Fund with over $1 Billion in Commitments

Rhea-AI Summary

J.P. Morgan Growth Equity Partners has successfully closed its inaugural Growth Equity Fund, securing over $1 billion in capital commitments. The Fund received support from a diverse range of institutions, family offices, and individual investors from the Americas, Europe, and Asia. More than 80% of the capital is available for new investments in growth stage companies, particularly in software, fintech, real estate, and consumer technology. Managing Partner Christopher Dawe emphasized that the fundraising success occurred despite a challenging market environment. The Fund aims to assist portfolio companies in scaling and has already invested in notable names such as Plaid and Airtable. J.P. Morgan’s extensive resources are expected to benefit portfolio companies significantly.

Positive

• Successful closure of inaugural Growth Equity Fund with over $1 billion raised.
• More than 80% of capital commitments available for new investments.
• Strong interest from a diverse set of institutional and individual investors.

Negative

• Investments involve significant risks, including potential loss of investment and lack of liquidity.

Fund investing in growth stage companies across software, fintech, real estate and consumer technology

NEW YORK, April 20, 2023 /PRNewswire/ -- J.P. Morgan Growth Equity Partners (GEP) today announced the final close of its inaugural Growth Equity Fund ("Fund"), with over $1 billion in aggregate capital commitments raised from a broad set of institutions, family offices and individual investors across the Americas, Europe and Asia as well as J.P. Morgan.

Growth Equity Partners leverages J.P. Morgan's global franchise to invest in companies ranging from Series B to pre-IPO stage across software, fintech, real estate and consumer technology sectors. The Fund has more than 80% of its capital commitments available to deploy in new investment opportunities and to help existing portfolio companies scale.

"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 quarter¹," 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."

"The team remains committed to identifying the next generation of category defining companies. Our goal is simple. We seek to partner with exceptional founders and bring the firm's resources behind us to help build enduring companies," added Dawe.

Since launching the Fund, GEP has invested in Plaid, Airtable, Codat and Thoropass (previously Laika), where the team has taken a hands-on approach and utilized JPMorgan Chase's insights, data capabilities and global network.

About J.P. Morgan Growth Equity Partners and J.P. Morgan Global Alternatives
J.P. Morgan Growth Equity Partners is the technology focused late-stage venture and growth equity investment arm within J.P Morgan Private Capital. J.P. Morgan Private Capital provides customized financing solutions for private companies across the capital structure and is comprised of a growth equity arm and a private debt business. J.P. Morgan Private Capital is part of J.P. Morgan Global Alternatives, the alternative investment arm of J.P. Morgan Asset Management. With more than 60 years as an alternatives investment manager, $211 billion in assets under management and more than 800 professionals (as of December 31, 2022), J.P. Morgan Global Alternatives offers strategies across the alternative investment spectrum including real estate, private equity and credit, hedge funds, infrastructure, transportation and liquid alternatives. For more information: jpmorgan.com/am. J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.

An investment in the Fund will involve significant risks due to, among other things, the nature of the Fund's investments and actual and potential conflicts of interest. There can be no assurance that the Fund's objective will be realized. No guarantees, either expressed or implied, are made that the investment strategies described herein will perform as they are intended. Each investor should have the financial ability and willingness to accept the risks including, among other things, the risk of loss of a substantial portion, or all, of its investment, lack of liquidity, lack of diversification of the Fund's portfolio, use of significant leverage by the Fund, and potentially higher fees and expenses than other investment alternatives, which may offset profits.

Securities products are offered by J.P. Morgan Institutional Investments, Inc., member of FINRA.

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¹ Q1 2023 PitchBook - NVCA Venture Monitor First Look, April 5, 2023 

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SOURCE J.P. Morgan Asset Management

FAQ

What was the amount raised by J.P. Morgan Growth Equity Partners for its inaugural fund?

J.P. Morgan Growth Equity Partners raised over $1 billion for its inaugural Growth Equity Fund.

What sectors does the J.P. Morgan Growth Equity Fund focus on?

The J.P. Morgan Growth Equity Fund focuses on software, fintech, real estate, and consumer technology sectors.

What percentage of the Growth Equity Fund is available for new investments?

More than 80% of the Growth Equity Fund's capital commitments are available for new investments.

Who is the Managing Partner of J.P. Morgan Growth Equity Partners?

The Managing Partner of J.P. Morgan Growth Equity Partners is Christopher Dawe.

What investments has the J.P. Morgan Growth Equity Fund made since its launch?

Since its launch, the J.P. Morgan Growth Equity Fund has invested in companies such as Plaid, Airtable, Codat, and Thoropass.