Elsewhere Partners announced the closing of Elsewhere Partners III, L.P. (EP Fund III), with $285 million in additional capital focused on majority investments in growth-ready B2B software companies.
Due to Elsewhere Partners’ distinct investment model and strong performance, an Ivy League Endowment and several returning and new prominent institutional investors backed EP Fund III.
Since launching in 2016 by seasoned Austin Ventures alumni Chris Pacitti and John Thornton, Elsewhere Partners has been seeking to redefine software investment strategies and unlock the full potential of capital-efficient software companies with proven products constrained by sub-optimized go-to-market practices. And with many years of experience leading early stage investments and navigating transformational investments in capital-efficient software companies together since founding Elsewhere through its first and second funds, the evolution of the firm into an early stage private equity (PE) firm has been a natural progression.
Through EP Fund III, Elsewhere Partners will further sharpen its focus on majority $20 million to $50 million investments in growth-ready software companies led by strong technical founders that have scaled to $3 million to $12 million in revenue. And the firm’s dedicated Operating Partners and extensive Operating Advisor network provide the deep bench of seasoned operational leadership and functional support required to scale effectively.
KEY QUOTES:
“Over the years, our vision to become a reliable feeder system for later-stage financial sponsors has crystalized due to the success of our early portfolio. We found a gap in the VC/PE ecosystem and have developed a low-risk/high-reward investment model and transformational playbook to become the ‘Series A’ private equity investor for B2B software companies. With the support of our new and existing limited partners, we look forward to continuing to fuel strategic growth in the software sector in both U.S. and international markets.”
- Chris Pacitti, Founder and Partner at Elsewhere Partners
