$450 Million for Private Market Investments Raised by Bracket Capital
Bracket Capital is a global multi-asset investment manager that focuses mostly on growth and tech-enabled businesses. The company just announced the successful close of its oversubscribed second fund, Bracket Capital Fund II, LP at $150 million. This exceeded their $100 million targets. Bracket also raised more in co-investment vehicles to invest alongside the fund, to the tune of $300 million.
Bracket will stay consistent with the investment strategy they used with Fund 1. This means Fund II will be used to invest in private companies through primary funding rounds and secondary market purchases from people inside these businesses who seek liquidity. This approach will allow the firm to take advantage of long-term macro tailwinds as value increases to companies within private markets.
Fund II is already in the process of being deployed across a wide array of companies with big growth potential.
Jihan Bowes-Little, a Managing Partner of Bracket Capital who also Co-founded the company, stated, “We are grateful for the strong support we received for Fund II from our global investor base. Bracket will continue to serve as a trusted partner, not only to early employees at successful pre-IPO companies but also to the companies themselves. We believe that access to intermediate-term liquidity for employees and investors will continue to be democratized, resulting in win-win opportunities for both investors and operators.”
Yalda Aoukar, a Managing Partner of Bracket Capital who also Co-Founded the company, stated, “As investment partners to some of the world’s leading and forward-thinking, technology-enabled companies, Bracket possesses a unique perspective on markets and the management teams responsible for making outsized impacts on the future of business and the digital world. We have developed a unique reputation in the market given our track record, discerning approach to investing, and deep industry relationships. We thank our new and returning limited partners for their confidence and trust as we act as stewards of their capital.”
Bracket Capital’s inaugural funds, which started in 2017, invested approximately $200 million in equity capital, which includes co-investment vehicles. Some of the more noteworthy investments include SpaceX, Airbnb, Clover Health, Palantir, Coinbase, SoFi, eToro, Reddit, Impossible Foods, Bird, Clutter, and Hive.AI, among others.
Bracket also runs the Bracket Foundation, the firm’s venture philanthropy arm that wants to use technology for social good, contribute to global discussions on important social issues, and raise awareness on how to use technologies to handle growing worldwide challenges. The Bracket Foundation is working with the United Nations on a multi-year project to confront online sexual abuse of children with AI.
About Bracket Capital
Founded in 2017, Bracket Capital is an alpha-driven global investment management company that focuses on later-stage, technology enabled companies with asymmetric risk-reward profiles. Bracket uses decades of buy-side experience at worldwide financial institutions, optimizing returns for investors while offering valuable and necessary liquidity for early employees and investors. Bracket is headquartered in Los Angeles and manages more than $650 million in assets for a diverse set of worldwide investors.
