Nov 10, 2021 - Economy & Business

General Atlantic raises $7.8 billion for new growth equity fund

Illustration of a hand with a hundred dollar bill holding out money to a bull

Illustration: Sarah Grillo/Axios

General Atlantic, one of the oldest and most successful growth equity investment firms, today announced that it raised $7.8 billion for its latest closed-end fund.

The big picture: GA also continues to employ an evergreen fund, which means it basically has around $24 billion in investable capital. The firm tells Axios it's investing around $8 billion per year, and in 2021 has made 50 deals and had 21 IPOs.

  • Past portfolio companies include Facebook, Slack and Uber, while current ones include Duolingo and StockX.eDance.
  • Around 20% of its portfolio is in China, where General Atlantic has three offices and has operated for 20 years. Portfolio companies include Ant Financial and ByteDance.
Go deeper