Steven Mnuchin’s Liberty Strategic Capital raises close to $3 billion

Liberty Strategic Capital, a new tech-focused private equity firm founded by former Treasury Secretary Steven Mnuchin, has raised nearly $3 billion for its debut pool of capital.

The Washington DC-based firm has raised $2.3 billion from 15 investors for Liberty 77 Fund International LP, according to a regulatory filing, and $620.8 million from 33 investors for Liberty 77 Fund LP, according to a regulatory filing.

Bloomberg reported in September that the firm had raised “about $2.5 billion” from sovereign wealth funds in the Middle East and others, including the Saudi Arabian Public Investment Fund.

Liberty Strategic Capital was founded in 2021 following Mnuchin’s term as the 77th United States secretary of the treasury as part of former President Donald Trump’s cabinet. It targets technology, financial services and fintech companies, as well as new content platforms, according to its Web site.

Early employees, according to their Linkedin profiles, include Jesse Burwell, CFO and senior managing director; and Ishai Drori, a principal based in Tel Aviv. Until joining the firm in May 2021 Burwell served as CFO of RLJ Equity Partners. Drori until last month served as a principal at Leumi Partners.

We were unable to reach Mnuchin for comment on the firm’s employees or hiring plans.

Liberty Strategic Capital has invested in five companies, the first coming just weeks after the firm was founded. The firm invested:

  • $200 million in artificial intelligence cybersecurity company Cybereason in July 2021, according to a press release;
  • $110 million in software security platform Contrast Security in November 2021, according to a press release;
  • $150 million in satellite imaging company Satellogic in January 2022, according to a press release;
  • $125 million in cyber defense company BlueVoyant in February 2022, according to a press release;

The firm also acquired mobile cybersecurity software company Zimperium for approximately $525 million in March 2022, according to a press release.

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