LTC Invest Fund V, which is targeting $250 million in size, is reportedly anchored by Founder and CEO Konstantin Sidrov and Revolut Chairman Martin Gilbert.
Under the non-binding agreement, O3 may increase its ownership in the social impact investor if certain fund launch and fundraising milestones are met.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
Its 2024 predecessor set the record for the strategy after closing with $3.3 billion in capital commitments.
In July, the firm closed its debut program targeting the strategy with more than $5.5 billion in capital commitments.
The alternatives manager also gave updates on the fundraising status of several other secondaries strategies spanning private equity, GP-leds, venture capital, and infrastructure.
The oversubscribed vehicle will make sub-€20 million investments exclusively in European VC funds.
Key Capital's debut fund, which targets positions in tech companies through off-cap-table transactions, has already completed two transactions to date.
Flashpoint Direct Secondary Fund II, which is targeting $75-100 million in capital commitments, marks the firm's eighth vehicle overall.
March PE Secundarios I, which has a target size of €60 million, will focus on GP-leds and direct minority co-investments.
