Top Tier Capital Partners Closes Fund, at $925M

top tier capital partners

Top Tier Capital Partners, a San Francisco, CA-based venture capital firm, raised $925m new capital commitments for Top Tier Venture Velocity Fund 4 (VVF4), as well as a collection of separate accounts, one of which focuses on late-stage climate tech co-investments.

TTCP invests primarily in venture funds and high-growth, expansion-stage software and technology startups across the globe.

With these new closings, the firm’s total regulatory assets under management increases to more than $8.1 billion.

Led by Managing Directors Garth Timoll, Sr., and Sean Engel, the new capital commitments will be invested as part of the firm’s Venture Velocity Strategy. The total amount includes $503.5M for VVF4, which was raised with the goal of continuing TTCP’s prior achievements of investing directly into companies as either a co-investor or secondary buyer as well as buying venture capital fund interests in the secondary marketplace. The remaining $421M to be invested from related separate accounts will be used primarily for investing alongside the Velocity program. Velocity’s strategies include investing in vehicles such as venture capital fund secondaries, general partner restructurings, continuation funds, portfolio strip purchases, direct co-investment, secondary activity, and tender offerings.

Led by Sean Engel, Eric Fitzgerald, and Garth Timoll, Sr., Top Tier Capital Partners is also announcing some internal promotions and the official opening of its new Boston office, located at 101 Arch St., 18th Floor, Boston, MA 02110, led by Fitzgerald. Chief Financial Officer Promit Bhattacharya, who previously led finance and operations at multi-billion dollar funds including SVB Capital, WestBridge Capital, and Hall Capital Partners, has been tapped for the additional role of COO. Previously Managing Director with Capstone Partners, Brian DeFee was hired as Director of Corporate Development EMEA, to lead business development in Europe; he is now the firm’s Head of Capital Partnerships and Solutions. The firm also has an office in London, UK.