Tech-focused growth investor Pilot Growth Management, which uses AI to help source its investments, has pulled in $45m for the final close of its second fund.
The final close comes a year after Pilot registered to raise up to $150m for the vehicle.
Pilot said it received repeat commitments from anchor LPs from its debut fund, as well as interest from family offices.
The firm says it manages more than $200m of growth stage capital, including exits, with portfolio companies including insurtech business Merabiota, AI data and analytics provider R4 Technologies and event management app Bizzabo.
Pilot co-founder and managing director William Lee said, “NavPod is a tireless team member who gets smarter every day as she sources and ranks potential investments for us.
“Of the 10 portfolio companies in our two funds, 80 percent were initially sourced and validated by NavPod, which enabled our senior team to contact the entrepreneurs at exactly the right time.
“The team exited Zenedge, a NavPod deal, via a sale to Oracle in 2018, validating NavPod’s contribution to the strategy’s long-term success.”
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