Brian Sheth Plans Software Comeback With $3 Billion Haveli Fund

Haveli Investments, the firm founded by former Vista Equity Partners president Brian Sheth, is planning to raise at least $3 billion for a software-dedicated private equity fund, according to people with knowledge of the matter.

The new vehicle is a follow-up to Austin, Texas-based Haveli’s first fund, Haveli VC Gaming Fund I LP, said the people, all of whom requested anonymity because the plans are private. Formal fundraising hasn’t yet begun, though Haveli has held early-stage talks with prospective investors, some of the people said. The fund’s target could still change.

A Haveli representative declined to comment.

Sheth ...