Silversmith Capital Partners (Silversmith) has held the first and final closing of its second fund, Silversmith Capital Partners II (Fund II) at its target and hard cap of USD670 million of commitments. The fund was significantly oversubscribed.
Consistent with the strategy of its predecessor fund, Fund II will focus on growth companies in two core industry verticals: Software-as-a-Service & Information Services; and Healthcare Information Technology & Services.
Silversmith received strong support from its existing investor base of leading endowments, foundations, fund of funds, and pension funds, while also adding a small number of new investors. In addition, more than 25 CEOs, founders, and industry executives invested in the fund.
“We are grateful for the continued support of our existing limited partners and are excited to add a select group of endowments and foundations,” says Jim Quagliaroli, Managing Partner of Silversmith. “We look forward to continuing our long track record of supporting founder-led growth businesses across our core areas of expertise.”
Prior to founding Silversmith, Jeff Crisan, Todd MacLean, Jim Quagliaroli and Lori Whelan had a broad base of relevant experience at established investment platforms, including over 45 years of collective growth equity experience. Since its founding in 2015, the firm has grown to a team of 13 investment professionals in addition to four senior industry advisors. Silversmith closed its first fund of USD460 million in August 2015.
Monument Group served as the exclusive placement agent and Proskauer Rose provided fund formation counsel.
