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Sands Capital announced on March 17, 2026, the successful closing of its Global Innovation Fund III, raising $1.1 billion in capital commitments. The fund was oversubscribed, reflecting strong demand from both new and existing investors.
The fund attracted prominent new limited partners, including Canada Pension Plan Investment Board (CPP Investments) and funds managed by Hamilton Lane, alongside continued support from existing investors. The raise also saw significant participation from technology founders and executives, underscoring confidence in Sands Capital’s long-term growth strategy.
Global Innovation Fund III is designed to partner with a select group of mid- to late-stage technology companies that are scaling rapidly and have the potential to become leading public businesses. The strategy emphasizes deep sector expertise and concentrated investments in category-defining companies.
Since launching its Global Innovation strategy in 2018, Sands Capital has backed several high-profile technology companies, including DoorDash, Snowflake, Nubank, and Databricks, as well as more recent investments such as Anduril, Ramp, Rippling, Anthropic, and OpenAI.
Barron Martin, Managing Partner at Sands Capital, commented: “For nearly 35 years, Sands Capital has focused exclusively on investing in the world’s leading growth companies. Global Innovation III enables us to support founders and teams privately as they execute on ambitious missions and transition into leading public companies.”
Michael Clarke, Managing Partner, highlighted the role of emerging technologies: “Technological innovation continues to accelerate, particularly as artificial intelligence reshapes how businesses are built and scaled. We believe the most compelling opportunities will emerge in a small number of exceptional companies, and our strategy is built around partnering closely with those teams over the long term.”
The fund will continue Sands Capital’s highly selective approach, typically investing in around 10 companies per fund. Key areas of focus include artificial intelligence, industrial technology, and intelligent infrastructure—sectors expected to drive long-term structural growth.
Global Innovation is part of Sands Capital’s broader $51 billion growth investment platform, which spans venture capital, private growth equity, and public growth equity. This integrated approach enables the firm to support companies from early high-growth stages through to large-scale public market leadership.
Frank Sands, Chief Executive Officer and Chief Investment Officer, added: “Our ability to partner with companies from private growth stages through scaled public leadership is central to the value we deliver to both founders and investors.”
Sands Capital is a global investment firm focused on innovative growth businesses. Founded in 1992 and headquartered in the Washington, D.C. area, the firm operates additional offices in New York, San Francisco, and London. Through its multi-strategy platform, Sands Capital provides growth capital solutions to institutions and fund sponsors across more than 30 countries.
