Turn/River Capital Fund III raises $168 mln, invests in Netsparker

Turn/River Capital said March 8 that its third fund raised $168 million. Fund III was oversubscribed and completed in less than 90 days. At the same time, Turn/River said it invested $40 million in Netsparker, a web application security company.

PRESS RELEASE

Turn/River Capital Raises $168 Million for Third Fund

San Francisco, Calif — March 8, 2018 — Turn/River Capital, a leading technology growth equity and buyout firm, announced today that it has successfully raised its third fund. The $168 million Fund III was significantly oversubscribed and was completed in less than 90 days. The firm will use the fund to build on its strategy of investing in growing, efficient technology companies and helping them drive additional scale by optimizing marketing, pricing, sales, and renewals, working hand-in-hand with Turn/River’s dedicated operational team.

Also today, in a separate press release, Netsparker, a leading web application security company, announced a $40 million equity investment from Turn/River Capital.

“We are honored and humbled by the trust our investors have placed in us. The quality of new and returning investors and the speed and size of their commitments are validations of our strategy and team,” said Dominic Ang, Managing Partner at Turn/River Capital. “At Turn/River, we believe the new breed of technology and SaaS companies we see today requires a new kind of investor. Turn/River was purpose-built for these companies, combining flexible capital that can power growth, liquidity, and acquisitions for bootstrapped companies, spin-outs, and roll-ups with an incredibly deep and diverse operational team focused on accelerating sales, marketing, and product development.”

The core of Turn/River’s strategy is this operational team. Turn/River combines an internal growth-focused agency comprised of SEO, SEM, go-to-market, and recruiting experts with a frontline team that can provide Sales Directors as a Service, Marketing Directors as a Service, and Customer Success Directors as a Service to implement best practices and scale operations as quickly and efficiently as possible.

“We chose to partner with Turn/River because they promised a strategic partnership that goes beyond capital,” said William Conway, CEO of Mailgun, an API-driven email delivery service for developers and a Turn/River portfolio company. “They have overdelivered on that promise, rolling up their sleeves to work side-by-side with our team and help execute Mailgun’s sales and marketing strategy. With their experience, we are truly able to accelerate this business at a much faster rate than we could have independently.”

The firm focuses on software and SaaS companies and has made 12 investments since its founding in 2011.

About Turn/River Capital

Turn/River specializes in buyouts, spin-outs, growth capital investments, founder liquidity, and recapitalizations of technology, web, and SaaS companies. The San Francisco-based team has deep operational experience and is focused on accelerating portfolio company sales, marketing, and product development. For more information, please visit www.turnrivercapital.com.