[Updated below] MR Investment Partners has launched as a technology-focused private equity firm, with a particular focus on growth equity financing. The principals are: Richard McGinn, the former Lucent CEO who most recently was a general partner with RRE Ventures; and Chris Roden, a former Citi banker who also served as CEO for both Seabridge Capital and Bristol Bank.
Not too many details yet, save for what’s on this website (kudos to VentureWire for finding it). It says that firm’s investment strategy calls for a “minimal use of debt in a company’s capital structure, and then only as a risk management tool.” It adds that the tech sub-sectors it plans to focus on include: Storage software payment systems, communications technology, SaaS, security software and mobile digital media.
I did reach someone named Elizabeth via the website’s contact number (it seemed to be a cell phone), who passed promised to pass on my message. If Richard or Chris ring back, I’ll be sure to update this post.
UPDATE: Ok, this is embarrassing. Seems my colleagues at Buyouts Magazine had this story more than a month ago, and I (and VentureWire) missed it. Moreover, they said that the fund target is $750 million, with a bunch already committed by some sovereign wealth funds. Apologies…