Second Alpha Partners, a private equity firm focused on secondary investments, has formed Second Alpha Partners I to manage the portfolio assets of venture capital firm Dolphin Equity Partners.
In 2012, the former limited partners of the Dolphin Equity funds sold a substantial portion of their interests to an investor syndicate that has turned to Second Alpha to manage these interests as general partner.
As a result, Second Alpha Partners now actively manages a portfolio of mature venture capital and growth equity companies that include TouchCommerce, Sportvision and AVST.
"We were very pleased to complete the transaction and provide a liquidity solution for the limited partners of the Dolphin Equity funds," says Second Alpha managing partner Richard Brekka (pictured). "We plan to work closely with management teams at our portfolio companies to drive positive results and maximise the value of their businesses."
"Our investment model at Second Alpha allows us, when appropriate, to be very active in advising portfolio companies," says managing partner Jim Sanger. "That differentiates the Second Alpha team from those of some other investment firms focused on private equity secondaries who pursue more passive management strategies."
Second Alpha representatives will serve on the boards of several companies in the new portfolio.
