Emerging Manager Roundup: Greater Colorado, Luminate Capital, Matt Damon’s WaterEquity

It’s been a busy couple of weeks on the fundraising front for emerging managers.

With a focus on the China TMT industry, California-based Xiang He Management Services is looking for $350 million in commitments for its second fund.

Luminate Capital Partners is seeking $425 million in commitments for its latest fund. Luminate, founded by former Silver Lake Partner Hollie Haynes, invests in software companies focused on B2B.

Matt Damon‘s new firm, WaterEquity, is making it rain for a good cause. Its latest fund raised $1 million and is looking for $49 million more in commitments. The funds will be invested in clean water and sanitation access enterprises across the globe.

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

Private Equity Funds

ONEVC is a Cali seed-stage venture firm. ONEVC Fund I raised more than $10.5 million. The fund will be invested in firms run by first- and second-generation immigrants in multibillion-dollar markets with a strong product-market fit.

Luminate Capital Partners invests in later-stage companies working with SaaS, supply chain, vertical applications, e-commerce, analytics and marketing automation. Luminate’s second fund is looking for $425 million in commitments. In 2017, its first fund raised over $260 million.

Avenue 4 Special Situations Fund I is managed by Avenue 4 Capital Management Founder Michael DiMeo. The first fund raised $1.15 million from three investors and is looking for $5 million in overall commitments.

Patriot Financial Partners is a private equity firm investing in community banks, thrifts and financial-services companies across the country. The third Patriot Financial Partners fund raised more than $365 million. The firm is still looking for about $35 million in commitments.

Co-founded by one of the highest-grossing actors of all time, Matt Damon, WaterEquity invests in high-growth enterprises assisting the hundreds of millions of individuals across the globe lacking access to safe water and sanitation. WaterCredit Investment Fund 3 raised $1 million and is looking for $49 million more in commitments.

SkyKnight Capital was initially seeded by a California family office and today manages investments on behalf of a dozen family offices and endowments.  The firm invests in healthcare, TMT, transportation and business services. SkyKnight Capital Fund II raised almost $86 million.

Tryperion RE Fund III raised over $60 million and is looking for a total of $100 million in commitments. Typerion Partners conducts direct and joint venture investments primarily in assets located in western and midwestern U.S. markets. In 2013, its first fund raised $50 million. In 2015, its second fund also raised $50 million.

Venture Capital

Xiang He Management Services focuses on the China TMT industry. Its second Alpha fund is looking for $350 million in commitments. The first Alpha fund raised its full target of $261 million in May.

Mosaic Ventures’ second fund is looking for $150 million in commitments. The firm is currently using the $140 million raised from its first fund to invest in Series A tech companies across the globe.

March Capital Partners Fund II raised over $120 million and is looking for a total of $150 million in commitments. March Capital Partners invests in technology companies and was founded by industry veterans.

Zoic Capital invests in early-stage technology companies, primarily healthcare-focused. Zoic Capital VC I fund is looking for about $5.3 million in commitments.

Greater Colorado Venture Fund focuses on investing in rural Colorado’s early-stage startups. The first fund is looking for $15 million in commitments and has already raised over $9 million.

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