Brentwood-based Lone View Capital closed its inaugural fund this month with $850 million in capital commitments, bringing its total assets under management to $1.1 billion.

The firm debuted in 2022 investing in growth-stage tech. Its Fund I received backing from university endowments, sovereign wealth funds, asset managers and family offices.

Lone View was founded by two former managing directors at Golden Gate Capital, Rishi Chandna and Doug Ceto, who led the firm’s software and services vertical.

“We are grateful for our investors’ trust and support and are excited to generate long-term value by fostering the next generation of market-leading business,” Chandna said.

The firm has already deployed capital from this fund. Its first investment was early last year in Trend Health Partners, a Maryland-based accounting system for health care. In October, the firm acquired PrecisionGX, a company developing artificial intelligence to automate payments for health insurers and claims administrators.

Lone View says its roster of investors and operators will partner with management teams to further develop software, information services and tech-enabled businesses.

Kirkland & Ellis advised on Lone View’s Fund I. The legal team included investment funds partners Justin Solomon, Michael Lee and Ted McBride.

Lone View is the latest of boutique private equity shops established by veterans of larger firms in Los Angeles.

Beverly Hills-based Butterfly Equity firm was founded by a KKR and Vista alum and debuted two years ago with a $520 million fund. Santa Monica-based Ocean Avenue Capital Partners was founded by Wilshire Associates and LGT Capital Partners alum, and now reports $1.9 billion in assets.