Sands Capital has successfully closed its Global Innovation Fund III at $1.1bn, exceeding target commitments and attracting new investors including Canada Pension Plan Investment Board and funds managed by Hamilton Lane.
The fund also secured continued support from existing limited partners and interest from technology executives.
The fund will focus on partnering with mid- to late-stage technology companies with potential to become “iconic” public businesses. Since launching its Global Innovation strategy in 2018, Sands Capital has backed high-profile private tech companies including DoorDash, Snowflake, Nubank, Databricks, and more recently Anduril Industries, Ramp, Rippling, Anthropic, and OpenAI.
Barron Martin, Managing Partner at Sands Capital, said the fund enables the firm to support visionary teams as they scale privately and transition to leading public companies. Michael Clarke, also a Managing Partner, highlighted the accelerating role of artificial intelligence in shaping long-term investment opportunities.
Global Innovation Fund III is part of Sands Capital’s broader $51bn growth platform, which invests across both private and public markets. The strategy typically targets around 10 companies per fund, concentrating on long-term secular themes such as AI, industrial technology, and intelligent infrastructure.
