Brookfield-backed Pinegrove launches $800m venture debt fund

Pinegrove Capital Partners was formed via a partnership with Sequoia Heritage in 2023.

Pinegrove Capital Partners, a San Francisco-based venture capital platform, has launched a venture debt fund that targets VC-backed growth companies and that seeks to raise $800 million, a source familiar with the matter told Private Debt Investor.

The fund, named Innovation Credit Growth Fund X, will target annual net returns of 13-17 percent, the source confirmed.