Boston-based growth equity firm Volition Capital has raised over $170 million for its second fund. The pool’s original target was $150 million. New investors in Volition’s second fund include university endowments, non-profit foundations, major corporations, fund-of-funds and family offices.
Boston, MA – Volition Capital announced today that it has closed its latest fund, Volition Capital Fund II, L.P., with aggregate capital commitments of over $170 million. Due to strong investor interest in Volition’s small cap growth equity focus, the fund was oversubscribed on its original target of $150 million. New investors in Volition Capital Fund II include university endowments, non-profit foundations, major corporations, fund-of-funds, and family offices.
“We are very pleased to welcome several premier institutions and families into our investor base who appreciate that growth equity has arrived as its own unique asset class,” says Larry Cheng, Co-Founder and Managing Partner. “Our investors understand the favorable risk-reward dynamics in small cap growth equity, and our focus and track record in this segment helped to drive a successful fundraising process.”
Volition Capital is a growth equity firm focused on investing in high growth, capital efficient technology companies. The firm specializes in working with founders of principally bootstrapped technology companies who are looking for a value-added partner and growth capital to help significantly scale their business. Consistent with prior funds, the target companies for Volition Capital Fund II will be Internet, software and technology-enabled services businesses that exhibit the following characteristics:
· Solid Revenue Base: $5 million -$20+ million
· High Growth: 30%-100%+ top line growth
· Meaningful Founder Ownership: 20%+
· Capital Efficient: Near Breakeven or Profitable
· Aspirations for Greatness
“We are very clear on what we do and what we don’t do at Volition,” says Roger Hurwitz, Co-Founder and Managing Partner. “Volition is focused on partnering with companies that meet our criteria and using our experience, knowledge, and relationships to help entrepreneurs capitalize on their immense opportunity.”
Volition Capital expects to invest in 10-12 companies in Volition Capital Fund II with a typical investment size of $5 million – $20 million. Two investments have already closed in the new fund. Investments from prior funds include: Ensighten, G5 Search Marketing, Globaltranz, iPipeline, Stylesight, Velocify, Vibes Media and Visual IQ.
About Volition Capital
Volition Capital is a growth equity firm established in 2010 that focuses on investing in high-growth, founder-owned technology businesses across the U.S. and Canada that have between $5 million and $20+ million in revenue and demonstrated capital efficiency. Volition Capital specializes in Internet, software and technology-enabled services businesses that have aspirations for greatness.