LPs

Emerging Manager Roundup: Perceptive, Reverence, ADV, Matrix and more

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Roundup

Emerging managers raised more than $3.3 billion in the past few weeks. Six private equity firms and one venture capital firm raised over $100 million.

Sophomore opportunities funds seemed to be popular among active PE fundraisers. Perceptive Advisors led all money raised, closing its second credit opportunities fund at $675 million.

Reverence Capital was just 7 percent behind with its second opportunities fund. It raised more than $629 million of a targeted $1 billion.

ADV Partners joined in on the fundraising for sophomore pools. It held a first close on $597 million.

Leading all venture firms was Matrix Partners. Its third India fund closed at more than $320 million.

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

Private Equity:

Abax Global Capital provides growth capital in Asia’s mid-market companies, with an emphasis on China. Its third private credit fund raised $60 million of a targeted $400 million.

ADV Partners also targets mid-market opportunities in Asia. Its debut closed at $550 million in 2015. Its current fund had its first close at $597 million.

BayBoston Capital is a minority-owned PE firm focused on financial service companies and banks. Its second fund closed at $22.9 million.

Cotton Creek Capital focuses on a variety of industries within the lower-middle market. Its third flagship raised more than $148.6 million of a targeted $250 million.

Equity Capital Partners manages the ShoreCap family of funds, which invest in financial services in developing and transitional economies. Its third fund raised more than $54 million.

L Squared Capital Partners targets buyouts in leading growth companies within tech-enabled services, industrial technology and education. Its sophomore flagship closed at $325 million.

NextEnergy Capital has two funds dedicated to building and operating solar plants in Italy and across international markets. It raised more than $360 million across these funds.

https://www.sec.gov/Archives/edgar/data/1761124/000176112418000002/xslFormDX01/primary_doc.xml

Perceptive Advisors focuses on the progress of the life science industry and invests in the most promising technologies in modern healthcare. It closed its second credit opportunities at $675 million.

Reverence Capital Partners focuses its investments in global middle-market financial services. Its sophomore opportunities fund raised more than $629 million of a targeted $1 billion.

Venture Capital

Arbor Ventures invests in early-stage companies in fintech. Its first opportunity fund closed at $10 million.

Arrive is Jay Z’s new startup platform, which is backed by Roc Nation, the entertainment company he founded. It raised $20 million of a targeted $40 million.

BIP Capital focuses in technology, healthcare, business services, digital media, franchising and software. Its sophomore minifund raised more than $8 million of a targeted $18 million.

https://www.sec.gov/Archives/edgar/data/1760784/000176078418000001/xslFormDX01/primary_doc.xml

Benjamin Ling’s new venture firm, Bling Capital, has had a busy month. After raising over $1.8 million earlier this month, he’s raised an additional $2.9 million across two parallel vehicles.

https://www.sec.gov/Archives/edgar/data/1759943/000175968218000003/xslFormDX01/primary_doc.xml

Frist Cressey Ventures focuses on technology and service businesses within the healthcare industry. Its sophomore flagship raised $49.7 million of a targeted $80 million.

Harlem Capital Partners is a minority-owned early-stage venture firm committed to invest in minority and women founders in the U.S. Its first flagship raised more than $1.9 million of a targeted $25 million.

Jarvinian Ventures focuses on companies with proprietary technologies in the IT mobility sector. Its sophomore L-Band fund closed at $25 million.

Matrix Partners is an early-stage investor with offices in the U.S., India and China. Its third India fund closed at over $320 million.

Morro Ventures invests in tech companies across Puerto Rico, Latin America and the U.S. It’s raised more than $16.8 million of a targeted $40 million.

Poseidon Asset Management is committed to growing in the cannabis industry. Its sophomore Demeter Capital fund raised more than $14.6 million.

Stray Dog Capital is looking to make a difference by investing in alternatives to the use of animals in the supply chain. Its second flagship raised more than $25.5 million.