Staley Capital Expecting First Close in Q1

Renny Smith, a former pro with THL Partners, has launched a growth equity firm focused on business services investments. It’s called Staley Capital, and last fall began raising its debut fund with a $100 million target. A first close is expected later this quarter, according to a source.

While at THL Partners, Smith launched the firm’s venture arm, TH Lee Putnam Ventures, in 1999.

Staley Capital has made one investment to date through a special purpose vehicle — investing an undisclosed amount into Chicago-based marketing agency Aspen Marketing Services.

Staley Capital’s team includes Jay Crystal, formerly an associate with American Capital; Snantanu Dhaka, a former Jefferies analyst; and special partner Ramanan Raghavendran, formerly of TH Lee Putnam Ventures and Insight Venture Partners.