Fundraising

The fund has invested nearly $3bn as of June, according to documents from the MWRA Employees’ Retirement System.

The firm hopes to surpass the size of its previous secondaries flagship, which closed on $22.2bn in 2023.

The Paris-headquartered firm raised €200m for its debut secondaries fund last year.

The firm is seeking $500m for a dedicated GP-led vehicle which has the potential to deliver enhanced returns.

Clean Growth VI is 60% invested and its first distributions are scheduled for later this month.

About 20% of Industry Ventures Partnership Holding VII will be dedicated to purchasing LP stakes in venture funds, senior managing director Roland Reynolds tells Secondaries Investor.

The firm is looking to close on its third and largest secondaries fund, after closing its second such fund in 2021.

The firm wants to raise almost 60% more than it did for its predecessor vehicle.

Details of the fund’s target and fundraising update, as well as expected performance and fees, were disclosed in US pension documents.