Serent Capital has reached a first and final closing of institutional commitments for its second fund, Serent Capital II LP. The fund was oversubscribed, exceeding its original target of $300 million to reach its $350 million cap.
Serent Capital, a private equity firm focused on investing in high growth service businesses, announced the first and final closing of institutional commitments for its second fund, Serent Capital II, L.P. Within weeks of launching the fundraising process, the fund became significantly oversubscribed, exceeding its original target of $300 million to reach its $350 million cap.
Since its founding in 2008, Serent Capital has been focused on partnering with entrepreneurs and world-class management teams to build great businesses. “We started Serent with a passion for working with growth businesses, and that passion burns as bright today. We hold a tremendous amount of respect for entrepreneurs, who are the lifeblood of the economy and who find success in the face of daunting odds. We consider ourselves lucky to have the opportunity to work with those bootstrapped companies, and bring our business building experiences to help them sustain and accelerate their growth,” said Kevin Frick, co-founder of Serent Capital.
“The strong interest in the fund is a wonderful endorsement of our work as business builders and our strategy of deep operational involvement,” said David Kennedy, co-founder. “We are humbled that so many of our current investors increased their commitment in Fund II, and we are delighted to welcome in a few new select investors with whom we are looking forward to being partners.”
Serent now has over $600 million in capital under management from a premier mix of endowments, pension funds, fund-of-funds, and family offices. Its principals welcome the opportunity to meet with entrepreneurs and intermediaries to explore how they can work together to create growing, profitable businesses.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face evolve with it. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating the challenges through their experiences as CEOs, strategic advisors, and board members to successful, growing businesses. By bringing our experience and capital to bear, Serent helps growing businesses thrive.