LPs

Emerging Manager Roundup: ICONiQ, SGG, BlackGold, Greenspring and more

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Roundup

Emerging managers raised more than $1.6 billion in the past few weeks. Eight firms raised over $100 million, six of which were private equity firms.

ICONiQ, which has powerful Silicon Valley executive connections such as Mark Zuckerberg, out-raised all other emerging managers. Its third co-investment vehicle raised over $224 million.

With its acquisition of Cim Global Business, SGG Group now has presence in African and Southeast Asian markets. Its Lighthouse India Fund III raised $181 million of a targeted $240 million.

Focusing on the energy sector is BlackGold Capital Management, which closed its second flagship at more than $165 million

Greenspring Associates led all venture capital firms. Its second micro general partner fund closed at $151 million.

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

Private Equity:

Aldine Capital Partners provides mezzanine and junior capital financing to lower middle-market companies. Its third fund has raised over $80.9 million.

Whether it’s public, private or co-investments, all strategies of BlackGold Capital Management focus on energy credit. Its second flagship closed at more than $165 million.

Elm Park Capital seeks to provide alternative debt capital for lower-middle-market companies as well as private equity firms. Its third opportunities fund raised over $38 million of a targeted $330 million.

ICONiQ Capital is a privately held investment firm that serves some of the world’s most influential families and organizations. Its third co-investment vehicle raised more than $224 million.

Kairos Real Estate Partners focuses on office properties in the Eastern U.S., with a specific focus on the Mid-Atlantic region. Its first opportunity zone fund raised $32 million of a targeted $250 million.

SGG Group provide corporate services, accounting, fund administration and family office support. Its Lighthouse India Fund III raised more than $181 million of a targeted $240 million.

Miura Private Equity targets leading companies in the middle market with hopes for international expansion. Its third flagship raised over $121 million of a targeted $370 million.

Baldwin Brothers is an investment manager. Its New Summit Impact Fund II raised more than $14 million of a targeted $25 million across its parallels.

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Paulson & Co specializes in event-driven arbitrage strategies such as bankruptcy reorganizations and distressed credit. Its second flagship has raised over $100 million.

Presidio Investors target buyouts and growth equity in leading lower-middle-market companies within the business, financial and consumer services sectors. Its second flagship raised more than $67 million.

Ramas Capital Management is an investment firm focused on energy. Its second flagship raised over $7 million.

Stronghold Resource Partners focuses on energy and natural resources. Its second opportunities fund raised more than $128 million.

Turning Rock Partners seeks long-term investments in debt and equity securities in small and mid-market businesses of North America. Its first flagship raised over $31 million.

Venture Capital:

Accolade Partners focuses on early-stage venture capital and growth equity investments in technology and healthcare. Its first growth fund has raised more than $102 million.

Inspiration from Jeff Bezos gives Day One Ventures its name and its vision. The firm focuses on early-stage companies. Its first flagship raised more than $13 million.

Greenspring Associates believes in investing across a company’s full lifecycle. Its second Micro GP fund closed at $151 million.

Laconia Capital Group provides early- and late-stage funding for business to business companies located in New York, Philadelphia, Boston and DC metro areas. Its second flagship raised more than $10 million of a targeted $15 million.

Novastar Ventures invests in early and growth stage companies with profitable potential in East Africa’s aspiring mass market. Its second African fund raised $1 million of a targeted $40 million.

Pantera Capital focuses on projects related to blockchain technology, digital currency and crypto assets. Its second flagship raised over $27 million.

PRIME Coalition is a public charity that partners with philanthropists to invest in companies that combat climate change. It raised $24 million across two funds.

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Primary Venture Partners is a low-volume investor focused on seed investments in New York. Its second flagship raised over $66 million of a targeted $100 million.

Work-Bench is an early-stage investment firm that focuses on companies rethinking the technology sector. Its second flagship closed with more than $46 million.