STG, a Menlo Park, Calif.-based private equity firm focused on investing in software and technology services businesses, has closed its STG VII with total capital commitments of $4.2 billion, including approximately $4 billion of limited partner commitments.
STG is an operationally-focused partner to over 50 global enterprise software companies, working to help drive their transformations. Fund VII is STG’s largest fund to date, more than double the size of Fund VI. It was oversubscribed at its hard cap and was completed above its $3 billion target in under five months.
“We are incredibly grateful to our existing and new investors for their support, especially given the context of the challenging fundraising environment and uncertain macro backdrop,” comments William Chisholm, managing partner and chief investment officer. “We have made meaningful investments in our people and platform in recent years, and we believe Fund VII is very well positioned to be a leading partner to growing software companies.”