Bow River Capital has raised $160 million for its software growth equity fund. The fund will seek to make equity investments between $5 million and $15 million. Perkins Coie LLP provided fund formation counsel.
DENVER, July 15, 2019 /PRNewswire/ — Bow River Capital (“Bow River”), announces the closing of its Bow River Capital 2019 Software Growth Equity Fund above its target and was oversubscribed. The strategy of the fund will provide first institutional capital and closely partner with management teams to drive transformational market positioning and growth in two core industry verticals: Software as a Service (SaaS) and technology-enabled business information services.
Bow River received strong support from numerous seasoned industry executives, CEOs, and technology founders who invested in the fund, along with its loyal investor base. The team of investment professionals has deep domain expertise scaling software companies, and will seek to make equity investments between $5 million and $15 million in capital efficient companies near cash flow break even to profitable, and subscription revenue run rates of $3 million to $10 million. The Fund made its first investment in Q2 when it completed the majority recapitalization of AbsenceSoft, a SaaS Human Capital Management platform to efficiently and cost-effectively manage FMLA, all forms of absence leave, disability, and ADA.
“We are grateful for the continued support of our long standing investors and extremely pleased with the substantial commitments from new investor partners,” states John P. Raeder, Jr., Managing Director and Head of Software Investments for Bow River Capital. “We have a robust pipeline of highly attractive opportunities, and look forward to executing our investment strategy and growth initiatives with our management teams.”
Perkins Coie LLP provided fund formation counsel.
About Bow River Capital
Founded in 2003, Bow River Capital is a private alternative asset management company based in Denver, Colorado, with Buyout, Real Estate, Energy, and Software Growth Equity platforms. The Bow River Capital funds focus on the lower middle market across a geographic area referred to as Bow River Capital’s Rodeo Region®, which encompasses the Rocky Mountains and surrounding states. Collectively, Bow River Capital has deployed capital into diverse industries, asset classes, and across the capital structure.