April 24, 2024

Black Billionaire Robert F. Smith’s Firm Raises Largest Pool Of Capital To Date With $20B Fund

Robert Smith

Robert F. Smith’s Vista Equity Partners has raised over $20 billion for its latest fund, making it the largest in its history. 

This new fund, known as the eighth flagship fund, passes the previous record of $17 billion raised in 2019. 

Embracing AI for Strategic Growth

Vista Equity Partners, known for its investments in technology companies, will leverage AI to improve efficiency and performance across the firm and its portfolio companies.

“You will also hear more about how we have adopted generative artificial intelligence not just as a tool but as a pivotal component of our value creation and underwriting processes,” Smith said, according to Axios.

“This has enabled us to identify and capitalize on opportunities, including dramatically expanding TAM, product innovation, GTM strategies, with greater precision and speed, ensuring that we stay ahead of the curve in a rapidly evolving market landscape.”

With over 650 team members worldwide and a vast library of enterprise software best practices, Vista has continuously highlighted its continuous improvement and inclusivity values. 

These principles have guided the firm to surpass $100 billion in assets under management in 2023.

Featured image credit: Chester Higgins Jr./The New York Times

Sara Keenan

Tech Reporter at POCIT. Following her master's degree in journalism, Sara cultivated a deep passion for writing and driving positive change for Black and Brown individuals across all areas of life. This passion expanded to include the experiences of Black and Brown people in tech thanks to her internship experience as an editorial assistant at a tech startup.