Silversmith Capital Partners Raises $880 Million For Third Growth Equity Fund

By Amit Chowdhry ● October 5, 2020
  • Silversmith Capital Partners recently announced the first and final closing of its third fund called Silversmith Capital Partners III, L.P. (Fund III) at its target and hard cap of $880 million

Silversmith Capital Partners recently announced the first and final closing of its third fund called Silversmith Capital Partners III, L.P. (Fund III) at its target and hard cap of $880 million. The fund was significantly oversubscribed.

Fund III is going to focus on partnering with and supporting the best entrepreneurs leading growing, profitable technology, and healthcare companies.

Silversmith received strong support from its existing investor base of leading endowments, foundations, fund of funds, and pension funds while also adding a small number of new institutional investors. And in addition, 50 CEOs, founders, and industry executives invested in the fund.

The firm closed its first fund of $460 million in August 2015 and its second fund of $670 million in January of 2018. In the the past five years, Silversmith has invested in 24 growth-stage companies and expanded its team to 29 people, including 22 investment professionals.

Monument Group served as the exclusive placement agent and Proskauer Rose LLP provided fund formation counsel.

KEY QUOTES:

“We are thankful for the continued support of our existing limited partners, especially in light of the current challenges we are all facing, and are excited to add a select group of new investors. We are proud of the firm we are building, based on the foundation of a team driven by the same set of core values. As we look forward, our strategy remains unchanged — to partner with exceptional entrepreneurs as they scale great products into great companies.”

— Lori Whelan, Managing Partner, Silversmith Capital Partners

“In a year in which the world has been upended by a series of major shocks, we’ve seen the knowledge economy respond with an unprecedented acceleration of innovation. We have been both impressed by, and grateful for, the response from our amazing group of entrepreneurs in managing through the crisis. At Silversmith, we continue to believe in the power of entrepreneurship to solve big problems and know that in challenging times like these, important and enduring companies often emerge. With our newest fund, we hope to continue to play a role in that creative process.”

— Todd MacLean, Managing Partner