LPs

Emerging Manager Roundup: JES, Emet, Turnbridge, Underscore and more

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Roundup

Emerging managers closed the last few weeks of 2018 by raising more than $1.6 billion. Six private equity firms and one venture capital firm raised over $100 million.

JES Global Capital, a wealth-management office, led all money raised. Its third flagship closed at $500 million.

Real estate firms made up most of the PE list. Emet Capital Management topped them by hitting its sophomore fund’s hard cap of $275 million in less than a year.

Turnbridge Equities, another real estate firm, was third in fundraising with $180 million.

Leading all venture firms was Underscore.VC. Its sophomore fund was capped at $140 million, as previously reported by VCJ.

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:

Atalaya Capital Management invests in markets that are not well served by traditional lenders, specifically in specialty finance, real estate and corporate. Its first leasing fund raised $146.9 million.

Capsquare Asia Partners focuses on companies within consumer-driven industries in the Southeast Asian region, especially Indonesia. Its sophomore fund raised over $70 million.

CMC Capital Partners focuses its investments in the media, technology and consumer sectors of greater China. Its third flagship raised $143.5 million.

Emet Capital Management invests in special-situation and distressed real estate opportunities. Its sophomore fund hit its hard cap of $275 million.

G4 Capital Partners also focuses on real estate, specifically on bridge lending to capitalize on perceived inefficiencies in the market. Its third flagship raised more than $32.4 million of a targeted $300 million.

JES Global Capital provides portfolio management, financial planning and trading services. Its third flagship closed at $500 million.

Leyline Renewable Energy provides bridge financing between midstage development and construction. Its Windstar fund raised $12.6 million.

Oakwood Real Estate Partners invests in commercial properties throughout the U.S. Its third flagship raised more than $117.5 million.

Turnbridge Equities acquires, develops, repositions and operates real estate. Its current fund raised $180 million.

Venture Capital:

Armory Square Ventures is a seed- and early-stage venture firm for companies targeting the largest industries across New York State. Its sophomore fund raised more than $3.3 million.

Converge was founded by Nilanjana Bhomik, the first woman to become TiE Boston’s president, and Maia Heymann. They invest in early-stage software companies. Its debut fund raised $14.5 million of a targeted $100 million.

Deciens Capital focuses on early-stage fintech investments. Its current fund raised more than $1 million.

GSV Capital seeks to invest in rapidly growing late-stage venture-backed private companies. Previous investments include Spotify, Dropbox and Lyft. Its current fund closed at over $17.8 million.

NextView invest in pre-seed and seed-stage startups with products that are fundamentally technology driven. Its current fund closed at more than $4.5 million.

Play Ventures was founded by gamers for gamers. It invests globally in games and game-services startups. Its debut fund raised more than $22.4 million of a targeted $40 million.

SparkLabs Global Ventures looks to invest in companies that generate valuable data across the globe. Its second Korean fund closed on $10 million.

Underscore.VC makes early-stage investments with a focus on the greater Boston area. Its sophomore fund closed at $140 million.