Press Release
December 20, 2021

Advent International Raises $4 Billion for Second Global Technology Fund

The Private Investment Funds team advised Advent International on its fundraising for Advent Global Technology II (“Advent Tech II”), Advent’s second dedicated technology fund. Advent Tech II exceeded its target of $3 billion by 33% and reached its hard cap of $4 billion after six months in the market.

Advent is one of the largest and most experienced global private equity investors.

The new fund is double the size of its predecessor, Advent Tech, which has invested in 20 software, data and cybersecurity companies since its launch in 2019. Following the same strategy as the prior fund, Advent Tech II will back innovative companies led by visionary management teams, focusing on high-growth acceleration and complex transformation opportunities. It will invest mainly in North America and Europe and selectively in other global markets where Advent has an established presence. A dedicated team of 27 tech specialists based in Palo Alto, New York, Boston, and London will deploy the new fund.

The Goodwin team was led by David Watson, James Donohue, with invaluable assistance from Karen Chao, Michelle Kim, Evin Luongo, Tony Mu, Arturo Cruz, Chris Adeigbo, and Margo Borders. 

For more details, read the press release.