Periscope Equity closes oversubscribed Fund II with USD225m of capital commitments
Periscope Equity (Periscope), a Chicago-based private equity firm focused on investing in technology-enabled services and software companies, has held the final closing of its second institutional fund, Periscope Equity II, with USD225 million of capital commitments.
The Fund exceeded its target and was oversubscribed with the backing of an experienced group of limited partners, including university endowments, pension funds, charitable foundations, funds-of-funds and family offices. Periscope completed the fundraise of its inaugural fund in 2018 with $104 million of capital commitments.
“The durability and growth of our existing portfolio during the pandemic demonstrates the benefits of our consistent investment strategy, as we have never wavered from targeting companies with mission-critical offerings, a history of sustainable profitability, and a stable base of recurring revenue,” says Steve Jarmel, Founder and Partner.
“With Fund I nearly deployed in less than three years, we are thrilled to continue on our growth path and to execute our strategy of partnering with innovative, entrepreneurial companies on a larger scale,” says John Findlay, Partner.
Fund II will continue to execute on Periscope’s investment strategy of control buyouts of founder-owned technology-enabled services and software companies across digital marketing, business process automation, security solutions, and healthcare technology. Since inception, Periscope has completed seven platform investments, three of which have been successfully exited, and 17 add-on acquisitions.
M20 Private Fund Advisors acted as placement agent and Kirkland & Ellis LLP acted as legal counsel to Periscope for Fund II.
Periscope Equity is a Chicago-based private equity firm focused on investments in technology-enabled service and software companies across – Digital Marketing, Healthcare Technology, Security Solutions, and Business Process Automation. Periscope specifically targets companies that are founder-owned, with mission-critical products and service offerings, a history of sustainable profitability and known avenues to accelerate growth. In alignment with proven management teams, Periscope provides strategic, operational and commercial expertise to drive superior investment returns.