Emerging and Promethean launch $300M hospitality-tech fund anchored by $185M continuation portfolio

Emerging and Promethean Investments are raising a $300 million hospitality and experiential entertainment fund. The vehicle is anchored by a continuation portfolio of roughly $185 million in identified assets, a structure AltAssets first reported.

From that base, the fund will extend into AI, automation and technology-enabled businesses across the sector, giving limited partners concrete holdings to underwrite before the strategy widens.

Secondaries fundraising just hit a record $93 billion, according to Secondaries Daily. If all $185 million rolls over, the new vehicle needs about $115 million of fresh capital. That makes it as much a fundraising exercise as a continuity play.