· Venture Capital Tracker Editorial · investment-strategies
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.
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.
