Firms & Funds

Emerging Managers: Altas, ICG, Hahn & Co, Pace, Vertex

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Roundup

Emerging Managers enjoyed a recent surge in fundraising. Twenty-four emerging managers raised more than $6.8 billion from June 19 through July 2, according to Buyouts data. That’s the second most pulled by emerging managers this year, behind only three weeks ago, when they raised $9.4 billion.

Altas Partners rounded up the most. The Toronto-based firm’s sophomore fund raised more than $2.6 billion from 110 investors, according to an SEC filing. No target was listed.

Altas focuses on high-quality businesses and has portfolio companies across a wide range of sectors, including healthcare and industrials, according to its website.

Intermediate Capital Group raised more than $1 billion from six investors for its third strategic equity fund, according to an SEC filing. This fund is just behind its predecessor, which closed at nearly $1.1 billion in 2017, according to an SEC filing.

At third was Hahn & Company, which is also in market with its third fund. The firm raised more than $829.7 million across two vehicles. The firm makes corporate acquisitions and investments in South Korea.

On the venture side, Pace Capital and Vertex Ventures each pulled in $150 million, the most of any venture firm. Pace Capital, a new firm created by entrepreneurs Jordan Cooper and Chris Paik, raised $150 for its debut fund, while Vertex raised that amount for its sophomore U.S. fund.

Below is a rundown of the most significant emerging private equity and venture funds that Buyouts has identified as being in the market over the past few weeks:

Private Equity:

400 Capital

  • Fund name: 400 Capital Asset Based Offshore Term Fund II LP
  • Focus: Residential and commercial mortgage loans and securities, consumer loans and asset-backed securities.
  • Amount raised: $100 mln
  • Target: $400 mln
  • Location: New York City
  • Phone: +1 212-612-3101
  • Filing: https://bit.ly/2xFguoq

Altas Partners

  • Fund name: Altas Partners Holdings II LP
  • Focus: Stable, high-quality businesses with sustainable advantages and good long-term prospects.
  • Amount raised: $2.635 bln
  • Target: Undisclosed
  • Location: Toronto
  • Phone: +1 416-306-9800
  • Filing: https://bit.ly/2XZ36dw

Carnelian Energy Capital

  • Fund name: CARNELIAN ENERGY CAPITAL III, L.P.
  • Focus: Lower-to-middle market North American upstream, midstream and oilfield service sectors.
  • Amount raised: $775 mln
  • Target: $775 mln
  • Location: Houston
  • Phone: +1 713-322-7310
  • Filing: https://bit.ly/2S8B89V

Corridor Capital

  • Fund names: Corridor Capital III, L.P.; Corridor Capital III Parallel, L.P.
  • Focus: Specialty manufacturing, value-added distribution and business services.
  • Amount raised: $72.9 mln
  • Target: Undisclosed
  • Location: Los Angeles
  • Phone: +1 310-442-7001
  • Filings: https://bit.ly/2XAOuBJ; https://bit.ly/2JpghN6

Estancia Capital Partners

  • Fund name: ESTANCIA CAPITAL PARTNERS FUND II, L.P.
  • Focus: Buyout and growth equity investments primarily on small-to-lower middle market firms in the asset management industry.
  • Amount raised: $74.6 mln
  • Target: $300 mln
  • Location: Scottsdale, AZ
  • Phone: +1 480-448-5001
  • Filing: https://bit.ly/2XATYYD

Hahn & Company

  • Fund names: Hahn & Co III L.P.; Hahn & Co III-S L.P.
  • Focus: Controlling positions in companies South Korea across a wide range of industries.
  • Amount raised: $829.7 mln
  • Target: Undisclosed
  • Location: Seoul, South Korea
  • Phone: +82-2-6353-7900
  • Filings: https://bit.ly/2XCO91t; https://bit.ly/2JzdJdV

Intermediate Capital Group (ICG)

  • Fund name: ICG Strategic Equity Fund III LP
  • Focus: Working with incumbent fund managers to provide liquidity options for existing investors in mature or expiring fund vehicles.
  • Amount raised: $1.1 bln
  • Target: Undisclosed
  • Location: New York City
  • Phone: +1 212-710-9650
  • Filing: https://bit.ly/2Jrow9S

McNally Capital

  • Fund names: McNally Capital – NRN QOF I, LLC; McNally Capital – NRN QOF II, LLC
  • Focus: Opportunity zones.
  • Amount raised: $19.6 mln
  • Target: Undisclosed
  • Location: Chicago
  • Phone: +1 312-357-3710
  • Filings: https://bit.ly/2JpWJIg; https://bit.ly/32ixKxN

Revelstoke Capital Partners

  • Fund name: Revelstoke Capital Partners Fund II, L.P.
  • Focus: Healthcare and related business services companies.
  • Amount raised: $437 mln
  • Target: Undisclosed
  • Location: Denver, CO
  • Phone: +1 303-953-3232
  • Filing: https://bit.ly/2WRYgu1

Spring Lange Capital

  • Fund names: Spring Lane Capital Fund I, LP; Spring Lane Capital Offshore Fund I, LP
  • Focus: Growth equity within energy, water, food and waste sectors.
  • Amount raised: $111.6 mln
  • Target: $400 mln
  • Location: Boston
  • Phone: +1 617-580-9127
  • Filings: https://bit.ly/2XMuJqr; https://bit.ly/2xA5Wai

T-Street Capital

  • Fund name: T-Street Opportunity Fund I, LP
  • Focus: Growth equity within consumer products, food and beverage and specialty manufacturing sectors.
  • Amount raised: $75 mln
  • Target: Undisclosed
  • Location: New York City
  • Phone: +1 212-380-8218
  • Filing: https://bit.ly/32kmi58

Venture Capital:

Boldstart Ventures

  • Fund name: Boldstart Opportunities I L.P.
  • Focus: IT infrastructure and software development.
  • Amount raised: $18.3 mln
  • Target: $30 mln
  • Location: New York City
  • Phone: +1 917-243-9199
  • Filing: https://bit.ly/2YL3N7s

Eudemain Ventures

  • Fund name: Eudemian Ventures Fund I, LP
  • Focus: Seed and early-stage consumer and enterprise software companies.
  • Amount raised: $4.2 mln
  • Target: $15 mln
  • Location: San Francisco
  • Phone: +1 415-916-2070
  • Filing: https://bit.ly/32eNC4w

Fifty Years

  • Fund name: Fifty Years Fund II, LP
  • Focus: Early stage investments in companies using technology to solve the world’s biggest problems.
  • Amount raised: $50 mln
  • Target: $50 mln
  • Location: San Francisco
  • Phone: +1 415-481-4323
  • Filing: https://bit.ly/2XSGM5s

Geekdom Fund

  • Fund name: Geekdom Fund III, LP
  • Focus: Seed and pre-seed investments in B2B SaaS in the U.S. and Canada.
  • Amount raised: $40 mln
  • Target: $50 mln
  • Location: San Antonio, TX
  • Phone: +1 210-865-3782
  • Filing: https://bit.ly/2xBARTw

Kairos Ventures

  • Fund name: Kairos Venture Opportunities I, L.P.
  • Focus: Scientific discoveries and their commercialization into viable businesses.
  • Amount raised: $25.6 mln
  • Target: $100 mln
  • Location: Beverly Hills, CA
  • Phone: +1 310-750-2452
  • Filing: https://bit.ly/2Lc9rwu

Level 5 Capital Partners

  • Fund name: Level 5 Capital Partners Fund 1, LP
  • Focus: Health, wellness and family physical services.
  • Amount raised: $13.9 mln
  • Target: $100 mln
  • Location: Atlanta
  • Phone: +1 847-840-3494
  • Filing: https://bit.ly/2RK5QG8

Montage Ventures

  • Fund name: Montage Ventures Fund II, L.P.
  • Focus: Financial services, e-commerce, marketplaces and healthcare start-ups.
  • Amount raised: $18.1 mln
  • Target: $37.5 mln
  • Location: Menlo Park, CA
  • Phone: +1 650-793-6768
  • Filing: https://bit.ly/2G2rVeu

Pace Capital

  • Fund name: Pace Capital Fund I LP
  • Focus: Series A investments.
  • Amount raised: $150 mln
  • Target: $150 mln
  • Location: New York City
  • Phone: +1 201-785-7223
  • Filing: https://bit.ly/2G1w5U8

TIA Ventures

  • Fund name: TIA Ventures Fund II, LP
  • Focus: Customer-relevant solutions to problems worth solving.
  • Amount raised: $9.8 mln
  • Target: Undisclosed
  • Location: Brooklyn
  • Phone: +1 646-622-0124
  • Filing: https://bit.ly/2G49PZE

Tin Men

  • Fund name: TIN MEN FUND I, L.P.
  • Focus: Early-stage enterprise technology companies in Southeast Asia.
  • Amount raised: $24.4 mln
  • Target: Undisclosed
  • Location: Singapore
  • Phone: +1 345-949-8066
  • Filing: https://bit.ly/30k1Z5M

Torch Capital

  • Fund name: Torch Capital I, L.P.
  • Focus: E-commerce, consumer internet, digital media, healthcare, fintech, beauty and food and beverage.
  • Amount raised: $57.8 mln
  • Target: $60 mln
  • Location: Wilmington, DE
  • Phone: +1 860-479-2401
  • Filing: https://bit.ly/2YKCxpC

Vertex Ventures

  • Fund name: Vertex Ventures US Fund II, L.P.
  • Focus: IT and healthcare.
  • Amount raised: $150 mln
  • Target: $150 mln
  • Location: Palo Alto, CA
  • Phone: +1 650-285-5224
  • Filing: https://bit.ly/2JpNOGA

Visionary Ventures

  • Fund names: Visionary Venture Fund II, LP; Visionary Venture Fund II (QP), LP
  • Focus: Ophthalmology Industry.
  • Amount raised: $62.1 mln
  • Target: $100 mln
  • Location: Aliso Viejo, CA
  • Phone: +1 949-330-6563
  • Filings: https://bit.ly/2XDzGgO