Lead Edge Capital Raises $1.95 Billion for Growth-Equity Bets

Lead Edge Capital raised $1.95 billion for its largest fund to date, to make bets on software, internet, consumer, and tech-enabled service companies.

The firm, which has offices in New York and Santa Barbara, California, favors companies that have recurring revenue and those that are profitable on an Ebitda basis, founding partner Mitchell Green said in an interview. The new vehicle, Lead Edge Capital VI, will be deployed over three years.

“We think valuations have gotten ahead of themselves and they’ll become more realistic,” said Green, whose firm aims to write equity checks of $15 million to $200 million ...