Next Play Capital, a minority-owned venture investment firm focused on investing in access-constrained venture funds and venture-backed companies, has closed its third flagship fund at $200 million. The Fund exceeded its initial target size of $150 million and significantly surpasses the size of its predecessor Fund II.
Fund III adds 11 new institutional limited partners (LPs) who embody the values that reflect Next Play Capital’s diverse LP community.
Fund III is the largest in Next Play Capital’s history, marking a 2.5x increase from the second flagship vehicle and bringing the firm’s total assets under management to $425 million. The firm will invest in high-level funds and venture-backed companies across sectors, stages, and geographies. Its diversified flagship structure is complemented by direct investment strategies via one dedicated fund and 24 special purpose vehicles (SPVs) to date. Since its formation in 2014, Next Play Capital has invested with 34 general partners (GPs) and 54 companies.
