<article>New York-headquartered media-focused investment bank <a href="https://www.dealstreetasia.com/?s=Raine%20Group">Raine Group</a> has raised $579 million from 48 investors for its third buyout fund, <a href="https://www.dealstreetasia.com/?s=Raine%20Partners III LP">Raine Partners III LP</a>.</article>

New York-headquartered media-focused investment bank <a href="https://www.dealstreetasia.com/?s=Raine%20Group">Raine Group</a> has raised $579 million from 48 investors for its third buyout fund, <a href="https://www.dealstreetasia.com/?s=Raine%20Partners III LP">Raine Partners III LP</a>.
In a US SEC filing, Raine did not specify the hard cap for the third PE fund but identified its subsidiary, <a href="https://www.dealstreetasia.com/?s=Raine%20Securities">Raine Securities</a>, as a placement agent for the fund in the US.
The latest fundraising comes about three years after Raine bagged $850 million from 101 investors for Raine Partners II. In 2011, the TMT-focused firm secured $475 million for its first PE fund, the Raine Partners I.
In 2016, Raine also pulled in $102 million for its second venture capital fund.
Raine manages two growth-focused private equity funds, two venture funds, and a TMT-oriented hedge fund, with current assets under management in excess of $2.5 billion, according to its website.
“Our growth and venture funds seek investments in fast-growing TMT enterprises. We believe our sectors of focus will enjoy significant top-line growth from globalization and secular technology shifts and that our funds are uniquely positioned to benefit from these trends,” Raine Group says on its website.
It has made three exits so far, including HowStuffWorks, a commercial edutainment website; Jagex, a developer and publisher of online games; and Viki, a global prime-time entertainment company.
In June, Raine Ventures, the group&#8217;s early-stage fund, led the $10-million Series A funding for DocAuthority, the data management company responsible for creating the world&#8217;s first AI-based data identification platform.
It also led a $22-million Series D financing for Cheddar, the live Post-Cable Network based in New York, in April.
The Raine Group is a global merchant bank focused exclusively on technology, media, and telecommunications. The firm has offices in New York, San Francisco, Los Angeles, London, Shanghai, and Mumbai.
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The latest fundraising comes about three years after Raine bagged $850 million from 101 investors for Raine Partners II.

TMT-focused Raine Group secures $579m for third PE fund

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TMT-focused Raine Group secures $579m for third PE fund

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