Bow River raises $605m for second software growth fund

• SGE Fund II will make majority-control investments of $25 million to $50 million as first institutional capital in boot-strapped, founder-led SaaS companies
• Perkins Coie LLP provided fund formation counsel
• Founded in 2003, Bow River Capital invests in the lower middle market

Bow River Capital has closed its second software growth fund at $605 million, beating its $500 million target.

SGE Fund II will make majority-control investments of $25 million to $50 million as first institutional capital in boot-strapped, founder-led SaaS companies.

On the fundraising, Bow River Capital’s John Raeder, SGE managing director and head of software investments said in a statement, “As global investors continue to carefully scrutinize their GP relationships and allocation to alternative asset classes, including technology buyout and growth equity, we are grateful for the trust and confidence our investors have placed in Bow River Capital’s SGE team.”

Perkins Coie LLP provided fund formation counsel. No placement agent was used.

Founded in 2003, Bow River Capital invests in the lower middle market. The Denver-based private equity firm targets software growth equity, private equity and real estate.