BOSTON–(BUSINESS WIRE)–January 25, 2018–
After roughly three months available in the market, Silversmith Capital Partners (“Silversmith”) introduced at this time the primary and remaining closing of its second fund, Silversmith Capital Partners II, L.P. (“Fund II”) at its goal and onerous cap of $670 million of commitments. The fund was considerably oversubscribed. Consistent with the technique of its predecessor fund, Fund II will deal with progress firms in two core trade verticals: Software-as-a-Service & Information Services; and Healthcare Information Technology & Services.
Silversmith obtained robust assist from its present investor base of main endowments, foundations, fund of funds, and pension funds, whereas additionally including a small variety of new traders. In addition, greater than 25 CEOs, founders, and trade executives invested within the fund.
“We are grateful for the continued assist of our present restricted companions and are excited so as to add a choose group of endowments and foundations,” mentioned Jim Quagliaroli, Managing Partner of Silversmith. “We stay up for persevering with our lengthy observe document of supporting founder-led progress companies throughout our core areas of experience.”
Prior to founding Silversmith, Jeff Crisan, Todd MacLean, Jim Quagliaroli and Lori Whelan had a broad base of related expertise at established funding platforms, together with over 45 years of collective progress fairness expertise. Since its founding in 2015, the agency has grown to a crew of 13 funding professionals along with 4 senior trade advisors. Silversmith closed its first fund of $460 million in August 2015.
Monument Group served because the unique placement agent and Proskauer Rose LLP offered fund formation counsel.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based progress fairness agency with $1.1 billion of capital below administration. Silversmith’s mission is to accomplice with and assist the very best entrepreneurs in rising, worthwhile expertise and healthcare firms. The agency seeks to take a position $15 million to $75 million per firm. Representative investments embrace ActiveCampaign, Centauri Health Solutions, Digital Map Products, Impact Radius, LifeStance Health, Nordic Consulting Partners, and Partners Surgical. The founders have over 4 a long time of collective investing expertise and have served on the boards of quite a few profitable progress firms together with Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Yapstone. For extra data, go to www.silversmithcapital.com.
About Monument Group
Monument Group is a number one, unbiased personal fund placement agent managed by a senior crew with important purchase‐aspect funding heritage. Since its inception in 1994, Monument Group has assisted a spread of normal companions all over the world to boost 84 funds, totaling $93 billion of fairness. These purchasers characterize a broad number of funding methods together with buyouts, debt, distressed, vitality and pure sources, progress, infrastructure and actual property. Monument Group has workplaces in Boston, London, Tokyo and Hong Kong. For extra data, go to www.monumentgroup.com.
Monument Group, Inc., is a member of the Financial Industry Regulatory Authority (FINRA); Monument Group Europe LLP is permitted and controlled by the Financial Conduct Authority; Monument Group, L.P. is licensed as a Type II Financial Instruments Dealer in Japan; Monument Group (HK) Limited is licensed to conduct Type 1 regulated actions in Hong Kong.
About Proskauer Rose LLP
Proskauer presents a full suite of companies for the funding administration trade, with a market-leading international crew devoted solely to advising asset managers, funding funds and their advisers, monetary establishments and institutional traders throughout the asset class. The cross border crew of over 130 attorneys relies within the U.S., UK, Asia and Latin America and contains specialists in tax, ERISA, regulation, monetary companies, employment, insurance coverage, fund finance, litigation and danger administration who perceive the distinctive technical and business points related to funding managers. Robin Painter and Matthew McBride led the engagement from Proskauer.
For media inquiries:
Joe Collins, 914-686-5599
Silversmith Capital Partners
Lori Whelan, 617-670-4340
This article sources data from VentureBeat