Top Tier Capital Partners

What Top Tier Capital Partners does

Top Tier Capital Partners (TTCP) is a privately held venture capital investment manager founded in 1999 and headquartered in San Francisco, with additional offices in Boston and London. The firm manages $7B in regulatory assets under management as of December 31, 2024, and operates three core strategies: Primaries (fund-of-funds commitments to VC managers globally), Secondaries (LP interest and direct secondary transactions providing liquidity to venture holdings), and Directs (direct co-investments in mid- and growth-stage venture-backed companies, including through the dedicated Velocity Fund which has deployed over $1.2B and partnered with 65+ companies since 2009). TTCP is registered as an investment adviser with the U.S. SEC under the Investment Advisers Act of 1940 and operates in the UK through Top Tier Capital Partners UK Limited (FRN 843592).

The firm is led by a team of General Partners including CEO Garth Timoll, Sr., CIO Sean Engel, Chairman and founder David York, Jessica Archibald, and Eric Fitzgerald, supported by a 35+ person organization spanning investment, investor relations, finance, legal, compliance, data, and operations. TTCP's distinguishing technology asset is a proprietary database covering more than 10,500 companies, paired with unique data analytics strategies used for portfolio construction and risk-adjusted return optimization. The firm has invested in 350+ venture funds worldwide and made 160+ global investments over more than two decades, with predecessor history at Paul Capital prior to the 2011 spin-out.

TTCP generates revenue through management fees on assets under management across multiple fund families (primaries, secondaries, direct investment strategies, and dedicated vehicles including the 2021 growth fund and 2023 secondary-only fund), supplemented by performance-based carried interest on successful exits and returns from direct co-investments and secondary transactions. The firm serves institutional investors (endowments, foundations, pension funds, sovereign wealth funds), family offices, and high-net-worth individuals through direct institutional sales, a limited partner portal, and regional offices in San Francisco, Boston, and London. Distribution is relationship-led, supported by content marketing (insights blog, LinkedIn), industry event participation including NVCA board representation, and dedicated investor relations and capital formation staff.

Name

Top Tier Capital Partners

Legal name

Top Tier Capital Partners, LLC

Website

https://ttcp.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Top Tier Capital Partners is a privately held venture capital fund-of-funds, secondaries, and direct co-investment manager founded in 1999, managing $7B in regulatory AUM as of December 31, 2024. The firm serves institutional investors, family offices, and high-net-worth individuals across primaries, secondaries, and direct investment strategies from offices in San Francisco, Boston, and London.

Ownership category

akta.pro rank

Product category

Venture Capital Fund of Funds Management

NAICS

Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (525990), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)

akta.pro secondary industries

Venture Capital Fund-of-Funds (FSANAGAC), Venture Capital Secondaries (LP Interests & Direct Secondaries) (FSANAFAJ), Secondary Venture Funds (VC Secondaries) (FSANAAAK)

Keywords

• Venture capital fund of funds
• Private equity secondaries
• LP secondaries management
• Venture co-investments
• Institutional asset management

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Fund Management Fees: Management fees charged on assets under management across multiple fund families including primaries, secondaries, and direct investment strategies
2. Carried Interest: Performance-based carried interest from successful fund investments and exits
3. Direct Investment Returns: Returns from direct co-investments and secondary transactions in venture-backed companies

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Top Tier Capital Partners is a venture capital investment manager offering three core fund strategies: Primaries (commitments to venture capital funds globally), Secondaries (flexible liquidity solutions including LP secondaries, direct secondaries, and fund liquidations), and Directs (direct investments in high-growth venture-backed companies). The firm also operates the Velocity Fund, a dedicated strategy focused on secondaries and co-investments in mid-stage and growth-stage venture-backed companies, having invested over $1.2 billion and partnered with 65+ companies since 2009.

Product overview

Top Tier Capital Partners is a venture capital investment manager offering three core strategies: Primaries (fund investments in VC firms globally), Secondaries (liquidity solutions for VC holdings including LP interests and direct shareholder equity), and Directs (direct investments in high-growth venture-backed companies). Their Velocity Fund strategy specifically focuses on co-investments and secondaries in mid-stage and growth-stage technology companies, having invested over $1.2 billion in 65+ portfolio companies since 2009. The firm operates as a fund-of-funds with complementary direct investment capabilities, providing institutional investors access to the global venture ecosystem through diversified strategies.

Differentiator

Problem solved

Functional benefit

Products and services

• Primaries Primary investment activity focused on venture funds managed by venture capital firms around the world across the innovation ecosystem. TTCP supports funds at all stages and sectors of the venture ecosystem, providing institutional investors with access to top-tier VC managers globally.
• Secondaries Flexible liquidity solutions for venture capital holdings across limited partnerships and shareholders of venture-backed companies. Services include direct secondaries, LP secondaries, fund liquidations, and structured fund liquidity for institutional investors and management teams.
• Directs Direct investment activity targeting high-growth, venture-backed companies. TTCP leads or participates in financings for mid-stage and growth-stage venture-backed technology companies with exceptional leadership teams and differentiated technology, leveraging data insights and the entrepreneur network.
• Velocity Fund Dedicated strategy for secondaries and co-investments in mid-stage and growth-stage venture-backed companies. Since 2009, the team has invested over $1.2 billion and partnered with over 65 venture-backed companies through preferred equity investments and secondaries.

Quantifiable outcome

• 160+ global investments made over two decades
• +2 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Venture Fund ManagerscoreStrategic or Co-development PartnerTTCP invests as a fund of funds in primary venture capital funds managed by top-tier VC firms worldwide. The firm has invested in 350+ funds globally and maintains long-standing relationships with fund managers across the venture ecosystem.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• StepStone Group: Large publicly-traded private-markets investment manager offering primaries, secondaries, and co-investments across venture, private equity, real estate, and credit. Closest large-scale, multi-strategy comparable to TTCP's primaries/secondaries/directs platform.
• Hamilton Lane: Public private-markets firm offering fund investments, secondaries, co-investments, and direct equity across private equity, venture, and credit. Comparable in multi-strategy LP solutions though tilted toward larger buyout rather than venture.
• Partners Group: Global private-markets investment manager offering primaries, secondaries, co-investments, and direct private equity. Larger and broader than TTCP, but operates an overlapping multi-strategy institutional LP business.
• Brookfield Asset Management (Private Funds Group): Large global alternative asset manager with a dedicated private funds group that runs primary, secondary, and co-investment strategies across private equity and venture. Larger and broader than TTCP but overlapping in multi-strategy LP solutions.

Direct peers

• Adams Street Partners: Long-established private-markets manager running primaries, secondaries, co-investments, and direct venture/growth programs globally. Directly comparable FoF-plus model with similar strategy mix and LP base to TTCP.
• Industry Ventures: Specialist venture secondaries and fund-of-funds manager with deep focus on VC secondaries, primaries, and direct co-investments — closest direct overlap with TTCP's secondaries-heavy activity and Velocity strategy.
• Cambridge Associates: Investment-advisory and fund-of-funds manager serving institutional investors with manager research, portfolio construction, and FoF implementation across private markets. Highly comparable as a research-driven, multi-strategy institutional advisor.
• LGT Capital Partners: Global fund-of-funds and multi-manager private-markets platform running primaries, secondaries, and co-investments across venture and private equity with a comparable institutional LP focus.
• Greenspring Associates (now part of Morgan Stanley): Pre-acquisition, one of the most prominent venture-focused fund-of-funds and secondaries managers with deep overlap in VC primaries, secondaries, and direct co-investments. Historical comparable in size and strategy to TTCP.

Regional players

• Mesrop Partners / Mercato Partners FoF: Growth-stage venture and fund-of-funds investor with VC commitments and direct co-investments, serving as a more regionally focused analog to TTCP's direct and primary programs.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TTCP_SF
• LinkedInlinkedin.com/company/top-tier-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments72 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Top Tier Capital Partners