Black Billionaire Robert F. Smith’s Firm Sets New Record With $20B AI-Focused Fund – peopleofcolorintech

Robert F. Smith’s Vista Equity Partners has raised over $20 billion for its latest fund, making it the largest in its history. 

This new fund, known as the eighth flagship fund, passes the previous record of $17 billion raised in 2019. 

Embracing AI for Strategic Growth

Vista Equity Partners, known for its investments in technology companies, is focusing on AI with its new fund. 

“You will also hear more about how we have adopted generative artificial intelligence not just as a tool but as a pivotal component of our value creation and underwriting processes,” Smith said, according to Axios.

“This has enabled us to identify and capitalize on opportunities, including dramatically expanding TAM, product innovation, GTM strategies, with greater precision and speed, ensuring that we stay ahead of the curve in a rapidly evolving market landscape.”

With over 650 team members worldwide and a vast library of enterprise software best practices, Vista has continuously highlighted its continuous improvement and inclusivity values. 

These principles have guided the firm to surpass $100 billion in assets under management in 2023.