Vista Equity Partners has asked investors for the go-ahead to lift the target on its sixth flagship fund to $10.5 billion, the Wall Street Journal reports, an uptick from the vehicle's current $10 billion limit. That figure was already an upgrade from the fund's initially reported $8 billion target, which was itself a hefty increase from the $5.8 billion that Vista raised in 2014 for its previous buyout vehicle.
Despite all that money—which would put Vista in rarefied air in terms of tech-focused investors—the fund would still be billions smaller than the year's biggest buyout vehicles. In March, Advent International closed its eighth flagship fund on $13 billion, continuing its own trend of rapidly growing pools of capital. Industry titan KKR is aiming to raise the same amount for its Americas XII fund, which is believed to still be seeking LP commitments.