Fund II will focus on providing flexible growth capital to recurring revenue businesses in the lower middle market
NEW YORK, July 05, 2023--(BUSINESS WIRE)--Thayer Street Partners Management, LLC ("Thayer Street"), a private investment firm that provides flexible growth capital to technology-enabled financial, real estate, and business services companies, today announced the successful closing of its Thayer Street Partners Opportunity Fund II, LP ("Fund II" or the "Fund").
With total capital commitments in excess of $275 million, Fund II exceeded its fundraising targets, benefitting from strong support from existing investors in their debut fund, managed accounts, and various co-investment vehicles, as well as a broad base of new and highly regarded limited partners.
Fund II will target investment opportunities in resilient, recurring revenue businesses in the lower middle-market where Thayer Street has significant investment experience, a deep network of strategic relationships, and a strong track record of helping businesses scale through organic growth and strategic acquisitions.
Josh Koplewicz, Founder and Managing Partner of Thayer Street, said, "Based on the success of our first fund, we continue to implement a rigorous and disciplined investment strategy that seeks to focus on a small number of high-quality investments each year. Fund II will build on our approach of providing flexible capital solutions to support our partner companies’ growth objectives and foster shared long-term success. We greatly appreciate the partnership of our existing investors and the significant interest we have received from our new limited partners."
Thayer Street will invest an initial targeted range of $5 to $50 million per transaction with significant scalability, leveraging its sector expertise and extensive underwriting and operating experience to partner with entrepreneurs and management teams to instill institutional best practices, unlock value and accelerate growth. To date, Thayer Street has made over 30 investments across the financial services, business services, and real estate services sectors.
About Thayer Street Partners
Thayer Street Partners is a boutique private investment firm based in New York City focused on opportunistic investments in recurring revenue businesses operating in the financial services, business services, and real estate services sectors. The firm specializes in providing companies with customized capital solutions and partners with management teams to help scale their businesses. For more information, please visit www.thayerstreet.com.
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Prosek Partners (on behalf of Thayer Street)