Rockbridge Growth Equity Management has announced the successful close of its third flagship fund, RB Equity Fund III and RB Equity Fund III-A, with total commitments exceeding $360 million. This close marks a significant milestone for the Detroit-based private equity firm, bringing its total assets under management to more than $1.7 billion.
Fund III surpassed its original $350 million target, reflecting strong demand from a diverse group of investors that includes public pensions, insurance companies, fund-of-funds, consultants, multi-family offices, and seasoned industry executives.
The new fund will focus on four core sectors where Rockbridge has built deep expertise over nearly two decades: e-Commerce and Marketing Services, Financial Services and Fintech, Tech-Enabled Products and Services, and Digital Media. These areas align with the firm’s strategy of backing growth-oriented companies that benefit from digital transformation and scalable platforms.
Fund III has already made investments in four platform companies. These include CheckedUp, a leading digital advertising network for pharmaceutical and medical device companies at the point of care; AcquireUp Marketing, which delivers technology-driven marketing solutions for financial advisors; Vici Media, a provider of white-label digital marketing tools for small and mid-sized businesses; and FormativGroup, an enterprise application services firm helping mid-market companies modernize operations through integrated data architecture and AI-enabled workflows.
Rockbridge’s success is closely tied to its strategic relationship with the Rock Family of Companies, a network that includes Rocket Mortgage, StockX, Redfin, the Cleveland Cavaliers, and more than 100 other businesses. This affiliation allows Rockbridge to leverage shared technology, operational expertise, and market insights to support its portfolio companies.
Since its founding in 2007, Rockbridge has deployed $1.3 billion in capital, including co-investor equity, and currently manages a portfolio of 13 companies. With Fund III now closed, the firm is well-positioned to continue its mission of building enduring businesses through partnership, innovation, and long-term value creation.
Advisor/counsel: Lazard acted as the exclusive placement advisor to Fund III, and Kirkland & Ellis LLP served as legal counsel.
KEY QUOTES:
“Rockbridge is proud to have closed Fund III above our target and our previous Fund II, which is validation of our sector-focused strategy and investment track-record. We are very grateful for the support from both our long-time and new investors and are eager to work with new companies that can benefit from our deep industry and operational experience.”
Brian Hermelin, Co-founder and Managing Partner at Rockbridge
“We’re excited about the companies we’ve already invested in from Fund III and are optimistic about future opportunities. Rockbridge believes in developing strong partnerships with our management teams to unlock growth and innovation, and we’re proud of the companies we’ve helped to build over our decades of investing.”
Kevin Prokop, Co-founder and Managing Partner at Rockbridge
