Aldrich Capital Partners has closed its second fund at a hard cap of $450 million. Aldrich Capital Partners Fund II’s limited partners include public and corporate pension funds, insurance companies, funds of funds, endowments and foundations, family offices and asset managers in the U.S. and Europe. The fund will focus mostly on the healthcare IT, financial technology and application software sectors. Monument Group was the placement agent.
VIENNA, Va, September 15, 2021 – Aldrich Capital Partners (“Aldrich”), a leading lower middle market growth equity firm, today announced it has completed fundraising for Aldrich Capital Partners Fund II (“Fund II”). The oversubscribed fund closed at its hard cap of $450 million of commitments. Similar to its predecessor fund, Fund II will focus primarily on control investments in founder-owned businesses operating in the healthcare IT, financial technology and application software sectors. Aldrich targets profitable private companies with annual revenues greater than $10 million located in secondary and tertiary markets across North America that have validated the technical viability of their business models and have a proven customer value proposition. Monument Group served as the exclusive placement agent for Fund II.
“We are grateful and appreciative of the strong support from our investors and very pleased with the results of this fundraise,” said Raheel (“Raz”) Zia, Managing Partner, Aldrich Capital Partners. “With strong support from our existing limited partners and new investors who worked diligently to make commitments through a virtual environment, we not only exceeded our $350 million target but also significantly expanded and diversified our institutional investor base. We sincerely thank our limited partners for their commitments to the fund and for their confidence in Aldrich.”
The investor base for Fund II includes new and existing investors and is comprised of leading public and corporate pension funds, insurance companies, funds of funds, endowments and foundations, family offices, and asset managers in the U.S. and Europe.
“With the successful closing of Fund II, we are excited to be in a position to continue investing in our robust pipeline of founder-run healthcare and software businesses,” said Mirza Baig, Managing Partner, Aldrich Capital Partners. “As former operators and entrepreneurs ourselves, we bring company-scaling expertise, access to talent and relationships with potential customers and partners. We help accelerate growth of businesses with our solutions-oriented, hands-on approach, which includes leveraging our portfolio optimization team and operating advisors for functional expertise. Our portfolio companies have experienced accelerated revenue growth as a result of this approach.”
“It has been a pleasure to support Aldrich in raising Fund II, which was raised almost entirely virtually due to pandemic restrictions and completed in just four months,” said Ryan Mueller, a Partner at Monument Group. “We believe the notable investor interest in Fund II is owed to the firm’s differentiated sourcing, value-added operational approach in its target sectors and history of delivering strong performance results for its investors. Additionally, in a crowded field of growth equity opportunities, Aldrich stood out for its deep commitment to DEI initiatives both within the firm and its portfolio companies. We wish the Aldrich team much continued success and thank them for the opportunity to work together to achieve this great result.”
About Aldrich Capital Partners
Aldrich Capital Partners (“ACP”) is a middle-market private equity firm investing in promising enterprises in the United States. The firm primarily focuses on investments in technology sectors such as healthcare IT, internet, software and financial services technologies. ACP’s principals are investors and operators who bring their experience to bear from the strategic investment level down through active support of portfolio companies at the operational and business planning level. ACP is headquartered in the Washington D.C. metro area, with additional offices in the San Francisco Bay Area and a research center in Hyderabad, India. For more information, please visit www.aldrichcap.com.