J.P. Morgan Growth Equity Partners, a technology-focused venture and growth equity investment arm of J.P. Morgan Private Capital, has closed its inaugural Growth Equity Fund with over $1 billion in aggregate capital commitments.

GEP leverages J.P. Morgan’s global franchise to invest in companies across software, financial technology, real estate and consumer technology sectors. The fund has more than 80 percent of its capital commitments available to deploy in new investment opportunities and to help existing portfolio companies scale. Since launching the fund, GEP has invested in Plaid, Airtable, Codat and Thoropass, where the team aims to take a hands-on approach and utilize JPMorgan Chase’s insights, data capabilities and network.

“We are pleased to have raised in excess of $1 billion for our inaugural fund, particularly in a challenging market environment where only two venture funds over $1 billion were raised last quarter,” comments Christopher Dawe, managing partner of the fund. “J.P. Morgan Growth Equity Partners is well positioned to take advantage of the attractive investment opportunities in the current environment.”