Emerging-manager roundup: Aretex, NewSpring, Rock River

Executives from Kohlberg Kravis Roberts and Metalmark Capital have spun out of a Chinese investment firm and started their own shop, according to sister publication Buyouts.

Aretex Capital Partners, which focuses on investments in Europe and North America, spun out of ZZ Capital International.

Aretex is led by founders Sergio D’Angelo and Andrew Feller, both of whom led European and North American private equity investing at ZZ Capital.

D’Angelo previously was a senior member of the European PE group at KKR, eventually co-leading European healthcare investing. Feller formerly was a partner at Metalmark, which he joined at inception in 2004.

Below are several other emerging private equity and venture capital funds that Buyouts has identified as being in the market over the last two weeks.


Private equity funds

Connecticut based Ellington Management Group,  which invests in  unsecuritized loans, securitized products and synthetic credit positions, raised $68.5 million for its Ellington Private Opportunities Partners II LP.

Mediterra Capital Partners, a private equity firm focused on investments in Turkey, raised over $187 million of its Mediterra Capital Partners II fund. Mediterra is looking for $233 million in commitments.

Narrative Capital, which provides debt and equity capital to owners of real estate and commercial assets, raised $45.8 million through its Narrative Capital Strategies Fund I.

Pennsylvania’s NewSpring Capital partners with early-stage companies involved in technology, healthcare, manufacturing, consumer services and business services. Their NewSpring Health Capital III LP is looking for $200 million in commitments.

Pennybacker Capital is a real estate investment firm with a focus on miscapitalized and mismanaged investments.  Their Pennybacker Credit I LP raised $49.5 million, the full amount they sought in commitments.

Since 2002, SCS Financial has invested in global investment managers seeking a range of independent strategies. Their Private Real Assets II fund raised almost $137 million.

Since 2002, SCS Financial has invested in global investment managers seeking a range of independent strategies. Their Private Real Assets II – Real Estate, LLC fund raised $65 million.

Healthcare oriented Revelstoke Capital Partners of Denver, Colorado is raised $302 million for its Revelstoke Capital Partners Fund II.


Venture funds

Act One Ventures, a venture capital firm investing in business software companies at the seed stage, is looking for $30 million in commitments for its Act One Ventures II fund.

Ara Partners is a private equity investment platform interested in boutique investment managers with a focus on energy. The Houston company’s AEM Opportunities Fund I is looking for $500 million in commitments.

Cantos, a San Francisco-based venture capital firm with interests in industrial automation, decentralized finance and the near frontier, set a $20 million target for Cantos Ventures II LP.

Found in the heart of the Cincinnati Central Business District, Cintrifuse invests in tech startups across the country. Their Cintrifuse Syndicate Fund II raised over $34 million. Their commitment target is $85 million.

Govtech Fund, a venture fund focused on startups related to government software/IT,  raised almost $25 million for Govtech Fund II.

Impact America Fund, which invests in technology that supports low-to-moderate income community needs, is looking for $50 million in commitments for its Impact America Fund II.

Osage University Partners, which invests entirely in startups focused on commercializing university research, is looking for $250 million in commitments for their Osage University Partners III fund.

Powerhouse Ventures, a venture capital firm investing in early-stage companies focused on science and technology around the world, raised over $2 million for its Powerhouse Ventures Fund I. Powerhouse is looking for $7 million in commitments.

Rock River Capital Partners, a Midwest based early stage venture firm, raised over $21 million for their Rock River Capital Fund I. Rock River is looking for $30 million in commitments.

Torch Capital, an early-stage venture fund focused on consumer brands and digital media, set a $60 million commitment target for Torch Capital I LP.

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