Teakwood Capital Closes Second Fund

Teakwood Capital has closed its second fund, Teakwood Capital II, with an undisclosed amount. The fund’s limited partners include a mix of family offices and institutions, the firm said. Teakwood Capital II has also closed its first transaction, an investment in computer-based testing company ExamSoft. Teakwood was formed in 2005, and is based in Dallas.

Teakwood Capital is pleased to announce its new fund, Teakwood Capital II. Investors from the Firm’s first fund committed to a large percentage of its second fund. The Firm’s limited partners are a blend of family offices and institutions. Teakwood’s efforts to achieve this balance of limited partners have provided the firm with invaluable resources in high-quality proprietary deal flow, portfolio company support, and market reach.

Teakwood Capital II has already closed its first transaction, ExamSoft, which offers a market-leading, turnkey solution for mid- and high-stakes computer based testing. ExamSoft’s software suite makes exam creation, delivery and scoring/analysis an easy and reliable process. ExamSoft has served the testing needs of prominent academic, certification, and licensing institutions for over 10 years. In that time, it has successfully administered millions of exams, with a flexible product and unparalleled client support. The company counts as clients the majority of state bars and over one hundred and fifty other institutions.

Teakwood Capital was founded in 2005 by Austin Ventures veterans. The Firm continues to actively invest and is in discussions to make several additional acquisitions. Teakwood expects to grow both its professional staff and its capital under management in 2011.

“We are very pleased with the progress of Fund 1. Additionally, with highly supportive investors and exceptional access to companies that fit Teakwood’s investment strategy, we’re excited about the productive new limited partner relationships we are building in Fund II,” said Shawn Kelly, Managing Director of Teakwood Capital. “Our focus and approach are quite differentiated and are producing the results we anticipated.”

Teakwood Capital, a Dallas, Texas private equity firm, provides the resources and experience to support management teams in buying and building companies. The Firm invests equity capital primarily in businesses with under $3.0 million of EBITDA. Teakwood focuses on management buyouts as well as control growth equity investments in companies in Texas and neighboring states. The Firm is actively investing out of and currently making the final limited partner allocations in its new fund.