money and businessStartups

Top Tier Capital Raises $1.05 Billion to Expand Its Global Technology Investments

Today, Top Tier Capital, a venture capital and private equity firm based in San Francisco, announced that it has raised an additional $1.05 billion for investment with global investment funds and technology companies.

David York, the managing partner at Top Tier, told TechCrunch via email that the new capital – which includes the Top Tier X fund, individual investor funds, and separate accounts – will focus on investments in Europe, the Middle East, and Asia.

York stated, “We have great confidence in the continued global growth of technology, as well as in our future investment activities. The strongest companies are often built in unstable markets, and the digital economy has continued to grow as a part of the overall global GDP. We see this as an opportunity to build our company for the future, remaining focused on trying to invest as one of the strongest investment franchises in the business.”

Founded in 2011 by Philip Paul, Top Tier primarily invests in venture capital funds but also in startups alongside selected managers (in the form of direct and co-investments). The company has a portfolio of around 400 interested funds, including Andreessen Horowitz, Mayfield Ventures, Creandum, and others, exposing it to over 16,000 venture capital-backed companies covering sectors such as biotechnology, Software as a Service (SaaS), Web 3, and artificial intelligence.

Since its inception, Top Tier – which has partners in San Francisco, Boston, and London – has raised about $3.7 billion in capital from investors across 12 funds and has over $8 billion in assets under management. The company’s exits include corporate performance management platform Anaplan, cybersecurity startup Carbon Black, and cloud application management company Engine Yard.

Some of Top Tier’s more recent bets on startups include Plus One, which is working on building parcel robot vision systems; Paro, a marketplace for matching independent financial experts with companies; and Humane, the company behind the AI-powered wearable smart plug, Ai Pin.

Concurrent with the announcement of the new capital, Top Tier said it is bringing on Jonathan Biggs, former managing partner at SVB Capital in London, as an investment partner. He will remain in London, where he resides – as will Michelle Ashworth, who was promoted to partner with Biggs’ appointment.

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