Thayer Street raises $275m for second fund

Thayer Street Partners Management, a private investment firm that provides flexible growth capital to tech-enabled financial, real estate, and business services companies, has held the final closing of the Thayer Street Partners Opportunity Fund II with total capital commitments in excess of $275 million. 

Thayer Street Partners Management (Thayer Street), a private investment firm that provides flexible growth capital to tech-enabled financial, real estate, and business services companies, has held the final closing of the Thayer Street Partners Opportunity Fund II with total capital commitments in excess of $275 million. 

Fund II exceeded its fundraising targets, benefitting from strong support from existing investors in the firm’s debut fund, managed accounts, and various co-investment vehicles, as well as a broad base of new and highly regarded limited partners.

Thayer says the fund will target “investment opportunities in resilient, recurring revenue businesses in the lower middle-market” where the firm has significant investment experience and strong track record of helping businesses scale through organic growth and strategic acquisitions.

Thayer Street will invest an initial targeted range of $5m to $50m per transaction with significant scalability. To date, Thayer Street has made over 30 investments across the financial services, business services, and real estate services sectors.