Updata Partners closes sixth fund
Gunderson Dettmer represented Updata Partners in the formation of its sixth fund, Updata Partners VI, L.P. with over $308 million in capital commitments. The oversubscribed fund will be used to invest in software and software-driven companies.
In an announcement of the fund, General Partner Carter Griffin said, "This new fund is a validation of our growth equity strategy and we are grateful for the continued support from our investors. Updata’s founders were some of the earliest pioneers in the software industry and it is a privilege to continue their legacy by supporting other entrepreneurs in the space.”
The Gunderson deal team was led by partner Malcolm Nicholls III and included Brian Huber, Andrew Fink, Andrew Griffin, Gabby Paradis and Mary Corazzini.