Tritium Partners LLC closed its second fund at a hard cap of $465 million, exceeding its original target of $375 million.

Tritium II LP received commitments from existing investors, as well as from new and substantial institutional investors. It was backed by retirement systems, private pension plans, university endowments, foundations, diversified financial institutions and insurance companies.

The Austin, Texas-based lower-middle-market investor will continue to primarily finance internet marketplaces, information services, supply chain, logistics, financial services and business services companies.

Weil Gotshal & Manges LLP served as legal adviser.