· Investment Strategies · 1 source · Updated · Verified
Sundance Growth Closes $250M Fund II at Its Upper Limit
Sundance Growth closed its second software-focused growth fund at a $250 million target and upper limit, doubling its inaugural fund after just 15 months.
By Venture Capital Tracker Editorial
Fund close
Sundance Growth
Backed by Accolade Partners
Sundance Growth closed Fund II at $250 million, reaching both its target and upper limit. The final close was announced on September 22, 2026.
The vehicle is twice the size of Sundance's $125 million inaugural fund, which closed 15 months earlier. Pacenote Capital helped market both funds.
Fund terms
| Field | Detail |
|---|---|
| Manager | Sundance Growth |
| Vehicle | Sundance Growth Fund II |
| Final close | $250M |
| Status | Final close at target and upper limit |
| Prior fund | $125M |
| Strategy | Founder-led B2B software growth investments |
| Typical check | Reported $5M–$25M |
Why this close matters
Sundance focuses on founder-led software companies with approximately $5 million to $10 million of annual recurring revenue. That places it between traditional venture capital and control-oriented software private equity.
The firm raised the successor quickly despite a difficult market for emerging managers and software funds. Existing backers, including Fund I anchor Accolade Partners, supported the new vehicle; additional limited partners were not publicly named.
Keep the category precise
This is a software growth-equity and private-equity vehicle, not a conventional seed or early-stage venture fund. Its check sizes and target-company maturity are materially different from early-stage VC.
Bottom line
The confirmed news is a $250 million final close, not a target or first close. The rapid step-up from $125 million signals LP confidence, but fund performance, fee terms and the complete LP roster remain undisclosed.
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.
