Key Takeaways
- • Franklin Templeton announced the successful final closing of its second enterprise technology growth equity fund, managed by Franklin Venture Partners, the private investing platform of Franklin Equity Group.
- • The fund targets mid- to late-stage enterprise technology companies positioned for an initial public offering, spanning industrial, enterprise, space and defense technology.
- • Investors include institutions, family offices and high net worth individuals, per the announcement.
- • Franklin Venture Partners has deployed more than $3 billion across 95 companies since 2014, according to the firm.
- • Franklin Equity Group manages over $130 billion in assets; Franklin Templeton reported over $1.6 trillion in firm-wide AUM as of July 31, 2024.
Summary
Franklin Templeton announced the final closing of its second enterprise technology growth equity fund, according to a Business Wire release dated August 14, 2024. The fund is managed by Franklin Venture Partners, the private investing platform of Franklin Templeton's Franklin Equity Group. The release did not disclose the fund's target size or final close amount.
The fund focuses primarily on mid- to late-stage venture companies in enterprise technology that appear well-positioned for an IPO. It is the team's second vintage and has attracted a mix of institutional investors, family offices and high net worth individuals.
Ryan Biggs, Co-Head of Franklin Venture Partners, said the firm's position as the private investing arm of a leading global asset manager, and as the only one based in Silicon Valley, makes it a distinctive strategic partner. He said the team combines public and private market perspectives when assessing investments, which he argued makes it attractive to founders pursuing an IPO. Biggs said the firm has spent nearly 10 years building concentrated portfolios of high-quality growth equity and crossover companies.
Franklin Venture Partners, led by Biggs, James Cross and Robert Stevenson, has deployed more than $3 billion across 95 companies since 2014. The team manages private equity funds focused on industrial, enterprise, space and defense technology. Franklin Equity Group, an active equity manager with over 75 years of experience and more than $130 billion in assets, houses the platform.
Franklin Resources (NYSE: BEN) serves clients in over 150 countries and reported more than $1.6 trillion in AUM as of July 31, 2024. The release carries standard private equity risk disclosures, noting such investments are illiquid, volatile and may result in loss of all or substantially all invested capital.
The fund focuses primarily on mid- to late-stage venture companies in enterprise technology that appear well-positioned for an IPO. It is the team's second vintage and has attracted a mix of institutional investors, family offices and high net worth individuals.
Ryan Biggs, Co-Head of Franklin Venture Partners, said the firm's position as the private investing arm of a leading global asset manager, and as the only one based in Silicon Valley, makes it a distinctive strategic partner. He said the team combines public and private market perspectives when assessing investments, which he argued makes it attractive to founders pursuing an IPO. Biggs said the firm has spent nearly 10 years building concentrated portfolios of high-quality growth equity and crossover companies.
Franklin Venture Partners, led by Biggs, James Cross and Robert Stevenson, has deployed more than $3 billion across 95 companies since 2014. The team manages private equity funds focused on industrial, enterprise, space and defense technology. Franklin Equity Group, an active equity manager with over 75 years of experience and more than $130 billion in assets, houses the platform.
Franklin Resources (NYSE: BEN) serves clients in over 150 countries and reported more than $1.6 trillion in AUM as of July 31, 2024. The release carries standard private equity risk disclosures, noting such investments are illiquid, volatile and may result in loss of all or substantially all invested capital.
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