Middle East-headquartered growth capital firm Delta Partners has reached a first close on its second fund as research shows emerging market investment firms are claiming their largest share of global fundraising to date.

Delta announced today it had reached $100m so far for its fund. It has a target of $350m and an upper limit of $500m. First-close investors include the International Finance Corporation, a World Bank subsidiary, Japanese mobile operator NTT DOCOMO, and a number of family offices from Europe and the Middle East.