River SaaS Capital, a firm that provides alternative venture financing to growing software-as-a-service (SaaS) businesses, announced its newly launched equity fund, TruWest Fund I. This new $50 million fund will invest in US-based B2B software-as-a-service businesses.
This fund is the next step in River SaaS Capital’s investing strategy. In 2015, they also launched as a provider of alternative venture financing to early-stage SaaS companies throughout the U.S. With the success of the venture debt fund, the team started making direct equity investments in select portfolio companies in 2019. Now, with both River SaaS Capital’s venture debt offerings and equity capabilities, they’ll be able to offer multiple capital options to their portfolio at scale.
KEY QUOTES:
“Launching our equity fund marks a significant milestone in our journey to empower and scale high-potential B2B software-as-a-service businesses. This move is designed to fuel the next phase of growth for US-based SaaS businesses, ensuring they have the resources and backing to innovate, expand and lead in their respective markets.”
– Matt Kennedy, co-managing member of TruWest Holdings, parent company of River SaaS Capital
“With this new $50 million fund, we are not just providing capital; we are offering a continuum of support that includes strategic leadership and operational expertise along with financial resources. Funding for SaaS companies is not one size fits all. With our ability to offer both debt and equity, we’re able to fetch companies the best mix of capital for their budgets.”
– Wendy Jarchow, Chief Investment Officer
