(Bloomberg) -- Apollo Global Management Inc. is committing $500 million toward strategies run by Brian Sheth, the former Vista Equity Partners president who has started his own firm.

Sheth’s firm, Haveli Investments, focuses on private equity in the technology industry. As part of a strategic partnership, Apollo will help the Austin, Texas-based firm expand through its capital-markets capabilities, and its funds are being put toward Haveli’s investments that include the software sector and gaming.

“Haveli’s experience naturally complements Apollo’s capabilities,” Apollo Chief Executive Officer Marc Rowan said in a statement. “The technological foundation being built to support gaming may one day support the broader financial ecosystem, and their insights in software are relevant to investments across our platform.” 

Apollo’s software prowess comes mainly from its credit unit, and the Haveli deal helps give Rowan’s firm exposure in the private equity world for that sector. 

Apollo’s backing is the latest in a string of partnerships with smaller, more specialized money managers. It took a stake in Motive Partners last year while also investing in the fintech investment firm’s funds. This year, it invested in European life sciences firm Sofinnova Partners and committed 1 billion euros ($971 million) of capital to that firm’s funds. 

Sheth, 46, is planning to raise at least $3 billion for a software fund at Haveli. The plan is still in its early stages, Bloomberg reported in September. The latest effort is on top of an earlier fund, Haveli VC Gaming Fund I LP, which is on track to raise $750 million. Sheth formed the firm more than a year after leaving Vista in 2020, soon after his co-founder Robert Smith admitted to tax evasion. Sheth’s firm declined to comment on fundraising efforts. 

“We chose to partner with Apollo, an industry leader and a highly complementary platform, to help accelerate our growth,” Sheth said in a statement.

Haveli has hired more than 40 people including Microsoft Corp.’s former chief environmental officer Lucas Joppa, ex-Qatar Investment Authority technology investor Sumit Pande and Ian Loring, who co-founded Crosspoint Capital Partners and spent more than two decades at Bain Capital, where he led technology investing globally. 

“We are excited to support Haveli’s growth, leveraging our fund formation, capital markets, and yield and hybrid capital solutions,” Rowan said in the statement. “Our strategic partnership with Haveli is designed to create a flywheel effect and align our respective firms for continued success.”

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