Aldrich Capital Partners has closed its debut fund at over $256 million. The limited partners of Aldrich Capital Partners Fund I LP include endowments, foundations, pension funds and family offices. The fund will invest in North American-based lower middle market companies in three technology sectors: healthcare IT, financial technology, and application software. Kirkland & Ellis LLP provided legal counsel to the fund.
VIENNA, Va., Oct. 9, 2018 /PRNewswire/ — Aldrich Capital Partners (ACP), a Virginia-based growth equity firm, announced today the successful final close of its debut institutional fund, Aldrich Capital Partners Fund I, LP (Fund); with more than $256 million in capital commitments on June 22, 2018. Institutional investors including endowments, foundations, pension funds, and family offices committed to the Fund.
The investment strategy of the Fund is to make growth equity investments, including both control and minority investments, in North American-based lower middle market companies generally focusing on three technology sectors: healthcare IT, financial technology, and application software. Launched in May 2017, the Fund has completed three investments to date. Portfolio companies include Lavu, Inc., Woundtech, and Paymerang, LLC.
“Lavu, Woundtech, and Paymerang are highly innovative companies and industry leaders in providing disruptive technology-enabled solutions to their customers. As they accelerate their growth in US and global markets, they will leverage our extensive relationships and advisory network within the technology and regulatory ecosystems. We are excited to provide our strategic insight and operational expertise in helping these and other companies reach their full potential,” said Aldrich Capital Partners Founding Partner Raheel (Raz) Zia.
Founding Partner Mirza Baig added, “Our company is founded by entrepreneurs, and we invest in entrepreneurs, which gives us a unique advantage in understanding the challenges founder-run companies face. We bring over 40 combined years of entrepreneurship and investing experience to our portfolio companies. These companies have shown tremendous potential and we are truly excited to help them to achieve their growth objectives.”
Aldrich Capital Partner Fund I, LP’s legal counsel was Kirkland & Ellis LLP.
About Aldrich Capital Partners
Aldrich Capital Partners supports disruptive innovation in healthcare IT, fintech, and application software by investing equity capital in privately held growing companies. Founded by experienced investors and operators who were also successful entrepreneurs, the company has made over $1 billion in technology investments since 1999. Both an operations partner and board-level advisor, ACP brings its portfolio companies strategic insight and access to a broad network of relationships built over 40 combined years of entrepreneurship and investing. Aldrich Capital Partners was founded in 2014 and has offices in Silicon Valley and the Washington, DC metro area. For more information, please visit www.aldrichcap.com.