TVC Capital, a San Diego-based software-focused growth equity firm, closed its third fund at $115m.
Limited partners include existing institutional investors and new fund of funds managers and a university endowment.
With TVC Capital III, TVC will remain focused on investments in and acquisitions of software companies that meet a mission-critical need of their customer base and are generating $2.5 million plus in revenue.
Founded by Managing Partners Jeb Spencer and Steve Hamerslag in 2006, TVC Capital focuses on investments in and acquisitions of software and software enabled service firms targeting a wide spectrum of software sectors and industry verticals.
Investments include Limeade, Levels Beyond, Centage, EdgeWave, LiquidPlanner, ReverseVision, Accordent, Del Mar DataTrac and Mercent.
It has approximately $225 million under management.