Rutgers University was among a string of limited partners for the growth equity firm's ninth fund, which was oversubscribed from its $300m target.
US-based growth equity firm Edison Partners closed its ninth fund at $365m yesterday having raised capital from limited partners including Rutgers University.
The LP list also included insurance firm American Family, investment manager Hirtle Callaghan, New Mexico Educational Retirement Board and fund-of-funds Renaissance Venture Capital Fund.
Edison makes investments in growth-stage companies generating $5m to $25m in revenue, targeting developers of enterprise, financial and healthcare software technology. It assesses investments using a proprietary software platform called Edison Edge.
Edison IX, which was oversubscribed from a $300m target, follows an eighth fund that closed at $276m in 2016.
Chris Sugden, managing partner of Edison Partners, said: “For more than 15 years, we have invested in the underserved part of growth equity: high-growth, capital-efficient technology companies, with revenue of $25m or less in geographies outside of Silicon Valley.
“We sized Edison IX to match our strategy, sector and company stage focus. We are very appreciative of the confidence and commitment our investors continue to share in our differentiated strategy and approach to alpha generation.”
– A version of this article first appeared on our sister site, Global Corporate Venturing.
The LP list also included insurance firm American Family, investment manager Hirtle Callaghan, New Mexico Educational Retirement Board and fund-of-funds Renaissance Venture Capital Fund.
Edison makes investments in growth-stage companies generating $5m to $25m in revenue, targeting developers of enterprise, financial and healthcare software technology. It assesses investments using a proprietary software platform called Edison Edge.
Edison IX, which was oversubscribed from a $300m target, follows an eighth fund that closed at $276m in 2016.
Chris Sugden, managing partner of Edison Partners, said: “For more than 15 years, we have invested in the underserved part of growth equity: high-growth, capital-efficient technology companies, with revenue of $25m or less in geographies outside of Silicon Valley.
“We sized Edison IX to match our strategy, sector and company stage focus. We are very appreciative of the confidence and commitment our investors continue to share in our differentiated strategy and approach to alpha generation.”
– A version of this article first appeared on our sister site, Global Corporate Venturing.
