- Denver-based venture firm Bow River Capital has closed $160 million for its 2019 Software Growth Equity Fund
Bow River Capital — a Denver-based venture firm that invests in promising lower middle market companies and assets across the U.S. Rocky Mountains, Midwest, Southwest, and Canada — has announced it closed the Bow River Capital 2019 Software Growth Equity Fund above its target and was oversubscribed.
The strategy of the Fund is to provide first institutional capital and closely partner with management teams to drive transformational market positioning and growth in two core industry verticals: Software as a Service (SaaS) and technology-enabled business information services.
Bow River has received strong support from a number of seasoned industry executives, CEOs, and technology founders who invested in the fund along with its loyal investor base.
And the team of investment professionals has deep domain expertise scaling software companies, and will seek to make equity investments between $5 million and $15 million in capital-efficient companies near cash flow break-even to profitable, and subscription revenue run rates of $3 million to $10 million. And the Fund made its investment in Q2 when it completed the majority recapitalization of AbsenceSoft — which is a SaaS Human Capital Management platform for efficiently and cost-effectively managing FMLA, all forms of absence leave, disability, and ADA.
“We are grateful for the continued support of our long-standing investors and extremely pleased with the substantial commitments from new investor partners,” said John Raeder — Managing Director and Head of Software Investments for Bow River Capital. “We have a robust pipeline of highly attractive opportunities, and look forward to executing our investment strategy and growth initiatives with our management teams.”
Perkins Coie LLP had provided fund formation counsel.
