Stripes Group has closed its third institutional fund vehicle, SG Growth Partners III. The fund attracted $500 million of commitments from institutional investors reaching both its target and hard-cap.
Stripes Group has announced that it has closed its third institutional fund vehicle, SG Growth Partners III, L.P. (Fund III), with $500 million of commitments from institutional investors reaching both its target and hard-cap. With the close of Fund III, Stripes total assets under management are approximately $1.2 billion. Stripes’ investors are primarily university endowments, foundations and financial institutions.
With Fund III, Stripes will continue to make $10 million to $100 million investments in fast-growing Internet, SaaS and Branded Consumer Products businesses primarily based in the United States and Europe. Stripes invests in both minority and buy-out transactions and typically looks to partner with companies that have raised limited prior institutional capital.
Drawing upon its teams experience as current and former entrepreneurs, Stripes lends active support to help recruit talent, accelerate revenue growth, source add-on acquisitions and support other operational elements critical to growing companies.
Stripes has helped build and scale Internet companies including GrubHub Seamless, Elance-oDesk, Blue Apron and Refinery29, as well as Branded Consumer Products companies like SmartWool, Turtle Beach and Stella & Chewys, among many others.
About Stripes Group
Based in New York City, Stripes Group is a leading growth equity firm with approximately $1.2 billion in assets under management that invests globally in Internet, SaaS and Branded Consumer Products businesses. Stripes Group partners with founder-driven, market-leading companies with business models that can generate exceptional growth. For more information on Stripes Group, please visit www.stripesgroup.com.
Fund III Highlights
• The new $500 million fund brings Stripes’ total AUM to approximately $1.2 billion
• Fund III’s investors are primarily university endowments, foundations and financial institutions
• Stripes will invest $10 – $100 million into companies in North America and Europe
• Stripes will continue to invest in buyouts and minority transactions with companies that have greater than $10 million in trailing revenue and are growing north of 20%