Emerging Manager Roundup: Raine, Stockdale, Structural and more

The heat seems to have finally affected emerging managers, who clocked in their lowest fundraising roundup total of the year. Seven emerging managers raised only $635 million from July 17 through July 30, according to Buyouts data. That is only the fifth time this year managers failed to raise at least $1 billion.

Raine Partners raked in the most. The firm raised $197.1 million for its third flagship, bringing the fund’s total up to $850.2 million from 119 investors, according to an SEC filing. In 2015 the firm closed its second flagship at $853.6 million raised from 101 investors.

Founded in 2019 by Joseph Ravitch and Jeffery Sine, in partnership with talent agency William Morris Endeavor Entertainment LLC, Raine Partners makes growth equity investments in technology, media and telecommunications.

Stockdale Capital Partners pulled in the second-highest amount. The real estate investment firm brought in more than $145 million through two vehicles for its debut real estate opportunities fund, which will focus on the southwest.

Structural Capital was third, pulling in $96 million through two vehicles. Its third investors fund raised $25.8 million from eight investors while its third investments fund raised $70.3 million from 85 investors, filings with the SEC showed. The Menlo Park-based firm makes growth investments to venture- and private equity-backed technology companies.

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

Everside Capital Partners

  • Fund name: Everside International Fund II, LP
  • Focus: Direct loans, partnership-style fund investments, secondary investments.
  • Amount raised: $8.4 million
  • Target: N/A
  • Location: New York City
  • Phone: +1 646-603-3604
  • Filing: https://bit.ly/2YhJBhe

NDR Capital

  • Fund name: NRD Opportunity Fund I, LP
  • Focus: Franchising with small to mid-sized domestic and global brands.
  • Amount raised: $69.6 million
  • Target: $100 million
  • Location: Atlanta, GA
  • Phone: +1 404-499-1960
  • Filing: https://bit.ly/2OuQrM4

Novalis LifeSciences

  • Fund name: Novalis LifeSciences Investments I, L.P.
  • Focus: Small to medium size innovative life science companies, specifically: drug discovery, diagnostics, life science tools, genomics, synthetic biology, consumer health, agricultural biotechnologies.
  • Amount raised: $85 million
  • Target: N/A
  • Location: Hampton, NH
  • Phone: +1 603-929-2236
  • Filing: https://bit.ly/2OrqMnh

Raine Partners

  • Fund name: Raine Partners III LP
  • Focus: Technology, media and telecom.
  • Amount raised: $850.2 million
  • Target: N/A
  • Location: New York City
  • Phone: +1 212-603-5500
  • Filing: https://bit.ly/2GG9lsZ

 Stellus Capital Management

  • Fund name: Stellus Capital Energy Opportunities Fund II, LP
  • Focus: Upstream Oil and Gas in the United States.
  • Amount raised: $33.2 million
  • Target: N/A
  • Location: Houston, TX
  • Phone: +1 713-292-5400
  • Filing: https://bit.ly/2K8pWYo

Stockdale Capital Partners

  • Fund names: SCP Real Estate Opportunities Fund I-A, L.P.; SCP Real Estate Opportunities Fund I-B, L.P.
  • Focus: Real estate in the Southwest.
  • Amount raised: $145.7 million
  • Target: N/A
  • Location: Los Angeles
  • Phone: +1 310-693-4400
  • Filings: https://bit.ly/2YyO5PT; https://bit.ly/2YAY2s6

Structural Capital

  • Fund names: Structural Capital Investors III-C, LP; Structural Capital Investments III, LP
  • Focus: Growth investments to venture- and private equity-backed technology companies.
  • Amount raised: $96 million
  • Target: N/A
  • Phone: +1 626-437-2771
  • Location: Menlo Park, CA
  • Filings: https://bit.ly/2K6b0Ko; https://bit.ly/333v7Aw

Download a spreadsheet with information about all of the funds: Emerging PE Roundup