Savano Capital Partners Closes Oversubscribed $157 Million Fund III

Rhea-AI Summary

Savano Capital Partners has successfully closed its third fund, Fund III, with $157 million in committed capital, nearly double the amount of its previous fund. This brings the firm's total assets under management (AUM) to over $300 million. The fund attracted both existing and new limited partners, enhancing Savano's capacity to provide liquidity and growth equity to expansion-stage companies. To date, Fund III has invested in 13 companies spanning sectors such as cybersecurity and fintech. Savano's team has also expanded with two new Vice Presidents to support its growth initiatives.

Positive

• Fund III closed with $157 million, almost double its predecessor.
• Total AUM exceeds $300 million.
• Invested in 13 companies across multiple high-growth sectors.
• Expanded team with two new Vice Presidents to enhance operations.

Negative

• None.

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

FAQ

What is the significance of Savano Capital Partners closing Fund III?

Closing Fund III with $157 million in capital commitments nearly doubles the firm's previous fund and increases its AUM to over $300 million, underscoring investor confidence.

When did Savano Capital Partners announce the closing of Fund III?

Savano Capital Partners announced the closing of Fund III on April 12, 2022.

What sectors have received investment from Savano's Fund III?

Fund III has invested in sectors including cybersecurity, data analytics, fintech, HR tech, and e-commerce.

Who are some notable companies in Savano's portfolio?

Notable active investments include Jobcase, Automattic, Hackerone, and Omaze.

How does Savano Capital Partners support its portfolio companies?

Savano provides creative liquidity solutions and growth equity, addressing the increasing need for flexible financial support in expansion-stage companies.