BALTIMORE, April 12,
2022 /PRNewswire/ -- Savano Capital Partners
("Savano") has recently closed its third fund, Savano Capital
Partners III, L.P., ("Fund III") with $157
million of committed capital. With this oversubscribed fund,
Savano's total firm-wide AUM now exceeds $300 million.
Savano Capital Partners, a growth equity firm supporting
rapidly-growing, late-stage technology and service companies, has
recently announced the closing of its third fund with capital
commitments of $157 million. With
nearly twice the capital commitments of its previous fund, Fund III
takes the firm's AUM to over $300
million.
Many of the firm's existing limited partners participated in the
fund, along with several new limited partners including leading
asset managers, insurance companies, universities, family offices,
and foundations. This fund enables Savano to continue offering
creative liquidity solutions to founders, employees, and early
investors in addition to growth equity to expansion-stage
companies. Avec Capital1 acted as the placement
agent for Fund III.
"We are grateful to our limited partners, both existing and new,
for their strong and continued support. I'm especially proud
of our expanded team that has worked hard to serve our portfolio
companies and investors. A special thank you to Frank Tower,
who we welcomed as a Partner in July of 2020, and was integral to
this fundraise. We look forward to building upon our success as we
continue to develop creative solutions to help founders and
companies address their ever-growing liquidity needs," said
Tom Smith, Managing Partner of
Savano.
The firm's approach has created win-win-win solutions for
shareholders, companies, and the firm's investors for over a
decade. The newly raised fund has already invested in 13 companies
across multiple software sectors, including cybersecurity, data
analytics, fintech, HR tech, and e-commerce. Savano has invested in
nearly 50 companies to date with notable active investments
including Jobcase, Automattic, Hackerone, Omaze, Bespoke Post, and
Sciencelogic and notable realized investments including Aras,
Everquote (Nasdaq: EVER), and Clarabridge (acquired by Qualtrics
(Nasdaq: XM)).
"Secondary liquidity is increasingly critical for companies and
their shareholders, particularly with the longer paths to exit
timing that most companies are experiencing," mentioned Savano's
COO Matt Good. "Our flexible
approach to working with expansion-stage companies and shareholders
makes Savano a great partner for those who need
creatively-structured liquidity and growth equity solutions."
Savano also announced the addition of two Vice Presidents to its
expanding team – Andrew Seter and
Julieanna Wiley. Seter brings a
wealth of experience in M&A advisory and corporate strategy.
Wiley previously led an outsourced back office team for multiple
venture capital firms.
About Savano Capital Partners
Founded in 2010 and headquartered in Baltimore, MD, Savano Capital Partners is a
growth-equity firm that supports rapidly-growing, late-stage
technology and service companies. Savano offers creative liquidity
solutions to founders, employees, and early investors in addition
to growth equity to expansion-stage companies. This release is for
information purposes only and is not a recommendation for any
security or investment. To find out more about Savano, please visit
www.savanocapital.com.
1 Securities offered through XT Capital
Partners, LLC
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SOURCE Savano Capital Partners