- The fund’s limited partners were not disclosed
- With this fund-closing, Crossplane has raised over $730 million since its founding in 2018
- Akin Gump Strauss Hauer & Feld acted as fund counsel for Crossplane
Crossplane Capital has closed its second fund at above its $325 million target.
Crossplane Capital Fund II will target lower miiddle market industrial companies. The fund’s limited partners were not disclosed.
With the closing of Fund II, Crossplane has raised over $730 million since its founding in 2018.
“We are grateful and humbled by the significant interest from existing and new investors in Crossplane, which allowed us to raise Fund II in three months,” said Crossplane Managing Partner, Brian Hegi, in a statement. “Given our focus on the lower middle market, we limited the size of Fund II, which is made up of our existing investors and a select number of new investors that have been close to our firm since our founding.”
Since the first closing of Crossplane’s inaugural fund in July 2019, Crossplane has closed six platform investments and 20 add-on acquisitions in its target sectors of industrial business services, value added distribution and niche manufacturing.
Akin Gump Strauss Hauer & Feld acted as fund counsel for Crossplane.
Crossplane is based in Dallas.