Wellington Banks at Least $2.6 Billion for Growth Investment Strategy

Investment manager Wellington Management has amassed at least $2.6 billion for its strategy to back late-stage startups, and said it has commitments of more than $200 million for co-investments.

The latest Hadley Harbor vehicle, Wellington Hadley Harbor Partners IV, provides the Boston firm with fresh ammunition to take advantage of depressed valuations of late-stage startups after higher interest rates pushed up financing costs and the market for new equity issues froze last year.