Veritas Capital Raises $15.3 Billion Across Fund IX Strategy Amid Private Equity Slowdown and Advances Deployment Across Flagship and Vantage Strategies

NEW YORK--(BUSINESS WIRE)--Veritas Capital (“Veritas”), a leading technology investor, today announced $15.3 billion in total capital raised across The Veritas Capital Fund IX (“Fund IX”) and related investment vehicles.¹ The close comes amid a pronounced slowdown in private equity fundraising, as many firms face extended timelines and reduced allocations. Securing $15.3 billion in this environment underscores investor conviction in Veritas’ differentiated strategy. The capital raised marks a meaningful increase relative to the Firm’s predecessor Flagship Fund, with Fund IX 40% larger than Fund VIII, which was itself 68% larger than Fund VII, reflecting sustained investor confidence in the strength and performance of the platform.

Veritas invests in companies that deliver essential software, data, and technology-enabled services across aerospace & defense, national security, healthcare, education, infrastructure, energy, and financial technology – sectors where demand is driven by regulation, public policy, and innovation priorities rather than short-term economic cycles.

Since closing Fund IX, Veritas has continued to deploy across both its Flagship strategy and its Vantage strategy, which invests in the large, fragmented middle-market. The Firm recently announced the acquisition of GHX, through its Flagship strategy, expanding its presence in healthcare supply chain software and data-driven solutions. The transaction included significant co-investment participation from global institutional partners, reinforcing continued demand for exposure to Veritas’ platform. Through its Vantage strategy, Veritas acquired MetroStar, an AI-enabled digital transformation provider serving U.S. defense and national security agencies. Vantage expands Veritas’ ability to serve as a differentiated partner to smaller, growing businesses, bringing scaled resources and deep sector expertise to accelerate growth.

Across the portfolio, Veritas-backed companies continue to secure landmark mandates. Most recently, Peraton was awarded a multi-billion-dollar contract supporting a White House-led initiative to modernize the U.S. Federal Aviation Administration’s aging air traffic control systems.

“In a constrained fundraising market, investors are allocating capital selectively,” said Ramzi Musallam, CEO and Managing Partner. “Our ability to raise $15.3 billion underscores the strength of our platform and our investors’ conviction in our ability to outperform. We deploy capital where modernization is structural and complexity creates durable opportunity, positioning us to generate sustained returns across market cycles.”

The Firm has ranked among the top ten private equity firms globally in the HEC-Dow Jones Large Buyout Performance Ranking for four consecutive years and is one of only three private equity firms out of over 695 measured to achieve this distinction during that period. Ramzi Musallam was also recently named a Wash100 Award recipient for the eleventh consecutive year, recognizing his continued leadership within the government and technology ecosystem.²

About Veritas Capital

Veritas is a longstanding technology investor with over $54 billion of assets under management as of September 30, 2025 and a focus on companies operating at the intersection of technology and government. The Firm invests in companies that provide mission-critical products, services, and software, primarily technology and technology-enabled solutions, to government and commercial customers worldwide in industries and sectors supported by a government-related customer base or impacted by government regulation or policy. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, energy, and national security, is core to the Firm. Veritas is a proud steward of national and global assets, focused on improving the quality of healthcare while reducing cost, advancing educational systems, accelerating energy transition, and protecting our nation and allies. For more information, visit www.veritascapital.com.

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^1 Fund size includes commitments to Fund IX and to certain co-investment vehicles raised to invest alongside Fund IX. Veritas generally does not have sole discretion to invest such vehicles, and mandates and scope may differ. There can be no assurance that any such capital will be invested alongside Fund IX in all investments or in the same proportions as Fund IX.

^2 Rankings and awards referenced herein reflect the views of the respective third-party conferring the ranking or award, and should not be considered an endorsement of Veritas or any Veritas fund. No compensation was paid by Veritas in exchange for, or connection with, such rankings and awards. Additional information regarding such rankings and awards is available at https://www.hec.edu/en/private-equity-ranking and https://www.wash100.com/, respectively. Past performance is not indicative of future results.