FTV Capital, a prominent growth equity investment firm, has secured the third position in the prestigious 2025 HEC Paris-Dow Jones Growth Capital Performance Ranking. This achievement places the US-based firm among the world's elite performers in a highly competitive global field. The ranking underscores FTV's consistent strategy and its ability to generate strong returns for its investors over time.
A Global Benchmark for Performance
The annual ranking provides a data-driven assessment of the world's top-performing growth capital firms. This year's study evaluated 183 firms and 440 funds raised between 2012 and 2021, representing an aggregate equity volume of $351 billion. The methodology, developed by HEC Paris Professor Oliver Gottschalg, analyzes metrics like IRR, DPI, and TVPI to identify consistent value creators.
This year's results highlight the increasingly global nature of the growth capital asset class. Australia's Quadrant Private Equity and Brazil's Oria Capital claimed the top two spots, respectively, ahead of FTV Capital. The top ten featured firms from six different countries, demonstrating a significant international presence among the leading investors.
FTV Capital's Consistent Strategy
In response to the recognition, FTV Capital's managing partner, Brad Bernstein, credited the firm's disciplined, sector-focused investment approach. He emphasized the strength of the partnerships built with exceptional founders and management teams. This consistent strategy has been a cornerstone of the firm's success since its inception over 28 years ago.
FTV Capital stands out among the top performers due to its specialized focus on technology and services. While most other leading firms employ a diversified industry approach, FTV concentrates on sectors like fintech, enterprise software, and healthcare technology. This makes its high ranking particularly notable, challenging the notion that specialization may limit performance at the highest level.
The firm provides more than just capital, leveraging its proprietary resources to accelerate portfolio company growth. Its Global Partner Network® offers strategic connections to industry executives, while the FTV Propel® team provides hands-on operational support. This differentiated model has been applied to over 150 portfolio companies, helping them scale into market leaders.
Key Insights from the 2025 Ranking
The comprehensive study revealed that neither firm size nor maturity is a prerequisite for top-tier performance. For instance, Quadrant Private Equity, a relatively young firm, secured the top position in its first eligible year. Conversely, Insight Partners, one of the largest firms analyzed, ranked seventeenth, suggesting scale does not guarantee superior returns.
The ranking also provided insights into the effectiveness of different investment strategies across the industry. The prevalence of diversified firms in the top ten suggests a broad approach is a common path to success. However, FTV Capital's achievement validates the power of a deep, thematic, and sector-specific model in generating exceptional results.
FTV Capital's third-place finish in the global HEC Paris-Dow Jones ranking affirms the strength of its specialized investment model. The results highlight a dynamic and increasingly international growth equity landscape where disciplined strategy outweighs sheer scale. FTV's consistent performance demonstrates that a focused approach remains a powerful driver of value creation in today's market.