Firms & Funds

Emerging Managers: InTandem, Loyal Valley, Ellington, Bluebird

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Roundup

Fundraising continued at a modest pace for emerging managers. Eighteen emerging managers raised more than $1.3 billion from June 5 through June 18, according to Buyouts data.

InTandem raised the most. The New York-based firm’s sophomore fund raised $250 million. The firm focuses on companies in healthcare and insurance services.

Loyal Valley Capital was second with its sophomore fund, which raised $200 million of a targeted $400 million. The Shanghai-based firm invests in middle-market companies in China.

Coming in at third was Ellington Management Group, which is in market with its sophomore private opportunities fund. The firm raised more than $152 million across two vehicles.

On the venture side, Bluebird Ventures led all firms with $103.5 million. The debut fund is managed by Sutter Hill Ventures’ Jeffrey Bird.

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:

Ellington Management Group focuses on four areas: diversified credit strategies, quantitative macro strategies, traditional mandate solutions and RMBS prepayment. Its sophomore private opportunities fund raised more than $150 million through two vehicles.

IG4 Capital looks to make investments that will make a positive change in fundamentals and operations of companies and assets. Its second private equity fund raised more than $33 million of a targeted $400 million.

InTandem Capital Partners focuses on making control investments in the healthcare and insurance services companies with low technology risks. Its sophomore fund raised $250 million.

Lewis & Clark Partners makes growth investments in agriculture and food, specifically in the St. Louis area. Its sophomore AgriFood fund raised $70.4 million.

Loyal Valley Capital invests in middle-market companies positioned to benefit from secular industry transformation in China. Its sophomore fund raised $200 million of a targeted $400 million.

Safe Harbor Equity is a real estate firm focused on non-performing mortgages, defaulted debt instruments and distressed real estate assets. Its third distressed debt fund raised $31 million of a targeted $100 million.

Serves Capital Partners focuses on control buyouts and growth equity within the lower middle market. Its debut opportunities fund raised $65 million.

Spanos Barber Jesse & Co (SBJ) focuses on lower middle-market consumer, business services and healthcare services companies. Its debut CDM co-invest fund raised more than $10 million.

Vanterra Capital makes growth investments in consumer, health & wellness and technology companies that will drive meaningful change. Its sophomore fund raised $27 million.

Venture Capital:

Artist Capital Management concentrates investments in companies that benefit from secular growth trends. Its debut e-sports fund raised more than $68.7 million of a targeted $100 million.

Autotech Ventures focuses on start ups in the ground transportation sector. Its sophomore fund raised $89 million of a targeted $225 million.

Bee Partners is a pre-seed venture firm that focuses on companies looking to shape the future, specifically within the technology companies centered around machines. Its third fund raised more than $40 million.

Bluebird Ventures, a debut venture fund managed by Sutter Hill Ventures’ Jeffrey Bird, raised $103.5 million.

Fin Venture Capital focuses on Series A investments in within the global technology sector. Its debut fund raised $33 million.

Pillar believes in providing investments, support and experience to entrepreneurs in big technology. Its sophomore fund raised more than $101 million.

PROOF (Pro-Rata Opportunity Fund) invests strategic capital alongside early-stage venture capital firms to maximize upside in their best performing companies. Its sophomore fund raised more than $10.8 million.

Rice Park Capital invests in real estate technology and financial tech companies solving significant problems in large and addressable markets. Its debut fund raised $8 million of a targeted $50 million.

SRI Capital is an early-stage venture firm focused on startups within enterprise software, deep technology and consumer technology in the U.S. and India. Its debut fund raised $45.2 million of a targeted $100 million.