Providence Strategic Growth Capital Partners LLC, an affiliate of Providence Equity Partners LLC, has closed its third oversubscribed fund at a hard cap of $1.3 billion.
PSG Fund III’s limited partners include state pension funds, family offices and high-net worth individuals. The fund will focus on the software industry.
In December 2016, PSG closed its second fund at $640 million. No performance data was available.
So far, PSG Fund III has made a number of investments in companies that include EverCommerce, a service commerce platform; Jobcase, an employee-focused social media platform; and Patron Technology, a provider of customer relationship management, box office ticketing, fundraising, and email marketing technologies.
Founded in 2014, PSG focuses on growth equity investments in lower-middle market software and technology-enabled service companies, mostly in North America.