Aldrich Capital Partners (ACP), a Virginia-based growth private equity firm, has held the final close of its debut institutional fund, Aldrich Capital Partners Fund I, with more than USD256 million in capital commitments.
Institutional investors including endowments, foundations, pension funds, and family offices committed to the fund.
The investment strategy of the fund is to make growth equity investments, including both control and minority investments, in North American-based lower middle market companies generally focusing on three technology sectors: healthcare IT, financial technology, and application software. Launched in May 2017, the fund has completed three investments to date. Portfolio companies include Lavu, Inc., Woundtech, and Paymerang, LLC.
“Lavu, Woundtech, and Paymerang are highly innovative companies and industry leaders in providing disruptive technology-enabled solutions to their customers. As they accelerate their growth in US and global markets, they will leverage our extensive relationships and advisory network within the technology and regulatory ecosystems. We are excited to provide our strategic insight and operational expertise in helping these and other companies reach their full potential,” says Aldrich Capital Partners Founding Partner Raheel (Raz) Zia.
Founding Partner Mirza Baig adds: “Our company is founded by entrepreneurs, and we invest in entrepreneurs, which gives us a unique advantage in understanding the challenges founder-run companies face. We bring over 40 combined years of entrepreneurship and investing experience to our portfolio companies. These companies have shown tremendous potential and we are truly excited to help them to achieve their growth objectives.”
Aldrich Capital Partner Fund I, LP’s legal counsel was Kirkland & Ellis LLP.
