The Riverside Company (Riverside), a global private equity investment firm focused on the lower end of middle-market companies, has closed its Riverside Acceleration Capital Opportunity Fund II (RAC Opportunity Fund II), raising $235m in capital commitments and subsequently increasing its growth equity investment capacity by more than four times.
According to a press release, RAC Opportunity Fund II provides growth equity, growth royalty loans, advice and operating resources, specifically designed to help B2B software companies navigate the transition from their early scale-up phase to their rapid acceleration stage. To date, the fund has supported over 65 acceleration-stage software companies in their efforts to systematise growth, seize expansion opportunities and scale internationally.
In a statement, Stewart Kohl, Co-CEO at Riverside, said: “We view this successful fund close as a strong statement of our market position and experienced team.
“We believe these firms have the ability to change the way we work, make our days more efficient and interesting and improve our ability to collaborate with one another. Riverside is proud of its role in this ecosystem and looks forward to deploying this capital to further support it.”
Béla Szigethy, Co-CEO at Riverside, added: “RAC embodies Riverside’s strategic commitment to fostering innovation and accelerating growth within the technology sector.
“Rather than a financial vehicle, we view it as a robust ecosystem designed to empower software companies at critical growth stages. With our multi-stage growth capital and Growth Advisory Program, we are poised to provide support to entrepreneurs who are working to reshape the way business is done in their clients’ end markets.”