Firms & Funds

Emerging Managers: Trott’s BDT, Old Ironsides, Butterfly, NFX

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Roundup

Call it a fundraising frenzy. 22 emerging managers raised more than $9.4 billion from May 8 through May 22, according to Buyouts data.

BDT Capital was most responsible for the surge. The firm, founded by former Goldman Sachs banker Byron Trott, raised $6.3 billion for its third fund. The Chicago firm is reported to target $9 billion, according to the Financial Times.

Also in market with its third fund is Old Ironsides Energy. The Boston firm raised more than $843 million and will look to invest in the oil and gas sectors of the U.S. and Canada.

Butterfly Equity raised $429 million for its sophomore fund, which will focus on the food sector.

On the venture side, NFX raised the most. Its sophomore fund raised $275 million and will make seed-stage investments.

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:

Acacia Partners invests only in family-owned and owner-operated companies. Its debut fund raised $40 million.

BDT Capital, founded by former Goldman Sachs banker Byron Trott, provides long-term capital to businesses. Its third fund raised $6.3 billion.

BP Energy Partners invests growth capital across energy dependent industries within the natural gas value chain. Its sophomore fund raised $245 million.

Butterfly Equity specializes in the food sector, specifically agriculture and aquaculture, food and beverage products, food distribution and food service. Its sophomore fund raised $429 million.

Cloverlay is an independent asset manager that focuses on transactions outside the scope of traditional PE. It raised $53.7 million for its sophomore fund.

Ecotrust Forest Management invests in commercially, ecologically and culturally significant landscapes as well as rangeland and farmland. Its third fund raised $28 million.

Granite State Capital Management employs long-term, value-oriented investments. Its sophomore fund raised more than $316 million.

Motive Partners invests in technology-enabled companies that power the financial services industry. Its debut fund raised $250 million.

NewRoad Capital Partners focuses on growth equity investments within retail, business services and healthcare technology. Its third fund raised over $54 million.

Old Ironsides Energy acquires and develops assets in the upstream and midstream sectors of the oil and gas industry in the U.S. and Canada. Its third fund raised more than $843 million.

Varagon is a lender in the middle market. Its debut fund raised more than $150 million.

Woodside Capital Partners focuses on acquisitions and financing in the commercial real estate and debt markets. Its sophomore special opportunity fund raised $57.9 million.

Venture Capital:

ClearSky invests in companies providing technology and services to enterprise customers with a focus on the power sector. Its sophomore Power & Technology fund raised $145.8 million.

Collider Ventures is an early-stage blockchain and crypto fund. Its debut fund raised more than $7.2 million of a targeted $50 million.

Ecosystem Integrity Fund focuses in companies contributing to environmental sustainability. Its third fund raised more than $95 million.

First Cressey Ventures focuses on accelerating the growth of high potential healthcare companies. Its sophomore fund raised over $62 million.

FusionX Ventures invests in promising early-stage startups in technology, industrials and medical/life science. Its sophomore fund raised more than $9.6 million.

Genoa Ventures invests in early-stage life sciences companies that deal with biology, technology and data science. Its debut fund raised $24 million.

KCRise Fund focuses on co-investments with institutional venture capital partners in companies based in the greater Kansas City area. Its sophomore fund raised $12 million of a targeted $30 million.

NFX makes seed-stage investments to founders looking to build market-transforming companies. Its sophomore fund raised $275 million.

Stage 1 Financial focuses on consumer opportunities. Its debut fund raised $2 million of a targeted $25 million.

VamosVentures has a mission to empower diverse communities by investing in tech-driven solutions to challenges persistent in our communities. Its debut fund raised more than $6.5 million.