Firms & Funds

Emerging Managers: Whitehorse, New Mountain Finance, Fifth Wall

-
Roundup

Emerging managers continue to flourish in a strong fundraising market. Thirteen EMs raised $3.1 billion from March 27 through April 9, according to Buyouts data.

One firm cracked the billion-dollar mark. Toronto-based Whitehorse Liquidity Partners outraised all firms with US$1.2 billion for its third secondaries fund. Last September, Whitehorse closed its second secondaries fund at $1 billion.

New Mountain Finance raised more than $503 million for its sophomore fund. The firm targets companies in the middle market.

On the venture side, Fifth Wall led with more than $468 million for its sophomore fund. The firm focuses on technology solutions for real estate problems.

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:

New Mountain Finance Corp targets businesses within the middle market. Its sophomore fund raised more than $503 million through two funds.

Rockbridge Growth Equity invests in companies across sectors including business and consumer services, technology, media and sports and entertainment. It raised $130 million of a targeted $350 million for its sophomore fund.

Stonefly Investments, sponsored by Robertson Capital, focuses in the energy sector. It raised $23.5 million of a targeted $50 million for its debut fund.

Vistria Group focuses on middle-market companies in the healthcare, education and financial-services industries. Its third fund raised $261 million across two vehicles.

Viola Growth is a technology growth capital fund, investing in Israeli-related global technology companies. Its third fund raised $40 million.

Whitehorse Liquidity Partners, fresh off closing its second secondaries fund this past September, raised over $1.2 billion of a targeted $1.5 billion for its third. The amount was raised across the main fund and a second vehicle.

Venture Capital:

1517 Fund makes grant, preseed and seed funding for technology startups. Its sophomore fund raised over $14 million of a targeted $40 million.

Archer Venture Capital makes seed, Series A and later-stage investments across all technology. Its sophomore fund raised more than $10 million.

Fifth Wall focused on finding technology solutions for owners and operators of real estate. Its sophomore fund raised more than $468 million of a targeted $500 million.

FTW Ventures believes in using responsible science and technology to improve the worldwide food system. Its debut fund raised more than $2 million of a targeted $10 million.

Green Bay Ventures is a venture firm founded by Dick Kramilich, co-founder of NEA. It raised more than $51 million for its sophomore fund.

M3 Ventures focuses on transforming brand power. Its debut fund raised more than $8.4 million.

Redmile Group makes venture and growth investments across the healthcare sector. Its sophomore biopharma fund raised more than $331 million of a targeted $600 million.