Greenridge Growth Partners – a private equity firm that invests in growing bootstrapped software companies – announced it has raised its second fund with $255 million in new capital commitments. And Greenridge Growth Partners II, L.P. was significantly oversubscribed and closed within one year of launch.
Fund II had received commitments from diverse investors, including endowments, foundations, asset managers, family offices, fund-of-funds, founders, and industry executives.
Greenridge makes control investments in founder-owned B2B software businesses with annual recurring revenue ranging between $5 million and $15 million. And the firm plans to build on the success of its eight prior software platform companies by continuing to invest in purpose-built and vertical-specific software businesses in partnership with exceptional entrepreneurs. Plus, Greenridge takes pride in becoming the preferred partner to founders seeking partial liquidity and support in their next stage of growth.
The Piper Sandler private capital advisory group Aviditi Advisors, acted as the exclusive placement agent and DLA Piper LLP (US) served as legal counsel.
KEY QUOTES:
“This is an important step forward for Greenridge as we build upon the momentum that was generated with our first institutional fund. We are grateful for the support of our long-time investors and welcome a wonderful new group of investors to the Greenridge family.”
– Ben Moss, Managing Partner
“We launched Greenridge because we love coming alongside founders and their teams to help build great businesses together. Our strategy in Fund II remains unchanged and is a continuation of the success we have had since our formation over a decade ago. It is a special privilege to be able to partner with founders and entrepreneurs, and we are excited to continue doing what we love with this next fund.”
– Jack Cardwell, Managing Partner
