NextEquity Partners Announces Closing of $120M Fund II

MENLO PARK, CA - May 15, 2023 - NextEquity Partners announced the closing of its second fund with $120 million of capital commitments. Founded by former Apple and Elevation Partners executives, NextEquity backs innovative enterprise software and consumer technology companies for their next phase of growth. The firm makes mid-stage growth investments in strategic, rapidly growing companies targeting large markets with leading products, compelling business models and strong management teams. NextEquity is led by Avie Tevanian (former Chief Software Technology Officer at Apple and Managing Director at Elevation Partners), Adam Hopkins (previously a Managing Director of Elevation Partners), Rami Reyes (previously a Principal at Elevation Partners), and Fred Anderson (former CFO of Apple and Managing Director of Elevation Partners). NextEquity draws upon its principals’ deep technology, operating, and private investment experience managing or investing in companies, such as Apple, Airbnb, Sonos, Venafi, Arctic Wolf, and SentinelOne. The firm is excited to invest its second fund to continue to support founders at the mid-stage and beyond. Fund II investments to date include Kore.ai (a leading enterprise AI platform), Clarifai (a leading computer vision, NLP, and deep learning AI platform), and Bishop Fox (a leading offensive cybersecurity platform). For more information, please visit nextequity.com.