Private equity fund Teakwood Capital has closed Teakwood Capital III, accepting subscriptions of USD90m on a target of USD75m.
The fund secured commitments from endowments and institutional investors as well as family offices.
Fund III closed in six months without a placement agent.
"We are very pleased with the progress we've made building Teakwood Capital into a high-performing private equity firm. Teakwood brings together superior deal flow and decades of expertise in rapidly growing companies, and when combined with world-class management teams, Fund III allows us to double-down on a proven strategy,” says Shawn Kelly, managing director of Teakwood Capital.
Teakwood Capital III will continue to invest in technology-focused, profitable companies, with revenues below USD25m, which are interested in accelerating growth with expansion capital and top-tier talent. The firm typically focuses on companies in Texas and neighbouring states.
