PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Carlyle closes third US venture & growth capital fund at USD605m

Global private equity firm the Carlyle Group has announced the final closing of its third US-focused venture and growth capital fund with USD605 million of equity commitments.

Global private equity firm the Carlyle Group has announced the final closing of its third US-focused venture and growth capital fund with USD605 million of equity commitments. The fund, Carlyle Venture Partners III, is Carlyle’s largest US venture fund to date.

Carlyle’s previous US venture and growth funds are Carlyle Venture Partners I, which closed in 1997 with USD210m in equity commitments, and Carlyle Venture Partners II, closed in 2002 with USD602m in commitments.

These funds have invested in such companies as Blackboard, AuthenTec, Matrics (acquired by Symbol Technologies and Motorola), and Indigo Systems (bought by Flir Systems). Carlyle now has a total of USD3.8bn under management in nine venture and growth capital funds investing in Asia, Europe and North America

‘We are grateful for our investors’ continuing support and faith in us,’ says Robert Grady, managing director and co-head of Carlyle Venture Partners. ‘We will continue to take advantage of the tremendous innovation occurring in the world today and the growth investment opportunities arising from this innovation.’

Carlyle Venture Partners III will employ a multi-stage growth equity approach, investing in a mix of early-stage venture capital, expansion stage growth capital and growth buyout transactions.

The fund will help its portfolio companies expand internationally and boost sales by using Carlyle’s global platform and expertise in such sectors as telecom and media, defence and aerospace, automotive and logistics, energy, technology and business services.

Brooke Coburn, managing director and co-head of Carlyle Venture Partners, says: ‘As traditional buy-out funds have become significantly larger, there is an attractive opportunity to acquire growing businesses using modest leverage in a way that provides an attractive risk-reward trade-off for investors and that is consistent with Carlyle’s historic strength in small buy-outs.’

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured