Gemini Partners has launched the Alacrity Capital Fund, a secured debt fund focused on providing short term, event-driven capital.
Gemini Partners has launched the Alacrity Capital Fund, a secured debt fund focused on providing short term, event-driven capital.
The fund has officially closed its initial funding and is aggressively seeking investment opportunities.
At a time when companies find themselves in a difficult transitional phase and traditional lenders and investors remain risk averse, Alacrity provides short term or "bridge" capital to support companies that are nearing a crucial inflection point.
The fund seeks to provide interim debt to companies prior to a liquidity event such as a merger or acquisition, IPO, equity or debt recapitalization, as well as other special situations.
Alacrity predominantly targets private companies with strong management teams, defensible competitive advantages, profitability, and scalable business models with clear debt repayment and exit strategies. It is mainly focused on companies in the US but will also make opportunistic investments in Western Europe, and will consider companies across a variety of industries.
Matthew Johnson, managing partner of Gemini and portfolio manager of Alacrity, says: "The Alacrity Capital Fund provides a rapid source of capital for strong companies with short term needs, while providing investors with superior and swift returns on their investments. Regardless of market conditions, Alacrity provides an excellent source of short term capital for evolving companies, however, the appetite for this type of capital is particularly intense in the current liquidity climate. We very much look forward to providing solutions to promising enterprises as well as exceptional returns to Alacrity’s investors."