Bertram Capital closes oversubscribed fourth fund at USD940m
Bertram Capital (Bertram) has closed the Bertram Growth Capital IV, & Bertram Growth Capital IV-A (collectivelyBGC IV), with USD940 million of total capital commitments, significantly above its initial hardcap of USD800 million and 80 per cent above the predecessor fund.
The new fund will continue Bertram's proprietary buy and build strategy, anchored by Bertram Labs, the firm's in-house technology enablement team. The new Fund builds upon a broad base of distinguished investors including endowments, foundations, consultants, insurance companies, public pensions, corporate pensions, asset managers, fund-of-funds, and family offices from the US, Europe and Asia.
"Bertram greatly appreciates the support of our limited partners who contributed to our recently closed and oversubscribed fourth fund, BGC IV. In its final closing last week, this flagship Fund received USD940 million of total capital commitments, USD875 million from limited partners and USD65 million from the general partner. Bertram practices a digital transformation strategy that is directed to our industrial, consumer and business services companies. Those capabilities are uniquely delivered through our Bertram Labs team of 14 software developers, internet marketers and data scientists," says Jeff Drazan, Managing Partner at Bertram. "We are pleased with the progress we have already made in BGC IV, deploying capital into five platform investments representing approximately one-third of the committed capital.
"Further, our limited partners have contributed an additional 50 per cent of the amount we have deployed from their coinvest programs. The successful fundraise is the result of a cohesive and committed team, employing a meaningfully differentiated value creation strategy which has helped us establish a strong track record with our limited partners, investment banks and business owners."
Established in 2006, Bertram Capital invests in companies with a minimum of USD20 million of revenue and USD5 million of EBITDA across business services, consumer, and industrial sectors. The Fund remains focused on accelerating portfolio company growth by supplying strategic development capital, and leveraging its proprietary processes and services, Bertram High-5sm and Bertram Labs. The firm is led by its tenured executive partnership team of Jeff Drazan, Kevin Yamashita, Ryan Craig, Jared Ruger, Tom Beerle, David Hellier, and Brian Wheeler.
The new Fund has completed three Consumer investments with a focus on e-commerce: Bulk Reef Supplies, Centicore Holdings and Lectric E-Bikes. Additionally, Bertram has closed two Industrial platform investments: Safety Products Holdings and AFC Industries.
Through its prior funds, Bertram Capital has invested in well-recognised consumer brands such as Solo Stove, Enthusiast Auto Holdings and Paula's Choice. Bertram has also invested in a number of leading industrial and services businesses such as Flow Control Group, Spectrio, Creative Drive, Spireon, Rowmark and Maxcess.