EnCap Investments has raised $3.5 billion for the EnCap Energy Capital Fund VIII. The fund offers growth capital to management teams focused primarily on the upstream sector of the oil and gas industry in North America.

The fund was oversubscribed. EnCap, an oil and gas private equity firm, has committed about $700 million to six portfolio companies in Fund VIII, including Common Resources, Lone Star II, Caiman Energy, Talon Oil & Gas II, Eclipse Resources and Venado Oil & Gas.