Seasoned Investors Take New Approach to
Private Equity to Drive Software Innovation Success Stories
AUSTIN,
Texas, June 25, 2024 /PRNewswire/ -- Elsewhere
Partners today announced the closing of Elsewhere Partners
III, L.P. (EP Fund III), with $285
million in additional capital focused on majority
investments in growth-ready B2B software companies. Because of
Elsewhere Partners' distinct investment model and strong
performance, an Ivy League Endowment and several returning and new
prominent institutional investors backed EP Fund III.
Since its launch in 2016 by seasoned Austin Ventures alumni
Chris Pacitti and John Thornton, Elsewhere Partners has sought to
redefine software investment strategies and unlock the full
potential of capital-efficient software companies with proven
products constrained by suboptimized go-to-market practices. With
decades of experience leading early stage investments and
navigating transformational investments in capital-efficient
software companies together since founding Elsewhere through its
first and second funds, the evolution of the firm into an early
stage private equity (PE) firm has been a natural progression.
"Over the years, our vision to become a reliable feeder system
for later-stage financial sponsors has crystalized due to the
success of our early portfolio," noted Chris Pacitti, Founder and Partner at Elsewhere
Partners. "We found a gap in the VC/PE ecosystem and have developed
a low-risk/high-reward investment model and transformational
playbook to become the 'Series A' private equity investor for B2B
software companies. With the support of our new and existing
limited partners, we look forward to continuing to fuel strategic
growth in the software sector in both U.S. and international
markets."
With EP Fund III, Elsewhere Partners will further sharpen its
focus on majority $20 million to
$50 million investments in
growth-ready software companies led by strong technical founders
that have scaled to $3 – 12M in revenue. The firm's dedicated Operating
Partners and extensive Operating Advisor network provide the
deep bench of seasoned operational leadership and functional
support required to scale effectively.
About Elsewhere Partners
Elsewhere Partners, a
tech-focused private equity firm, invests in growth-ready lower
middle market software companies around the globe. Elsewhere's team
of experienced investors and software operators tailor growth plans
for each unique portfolio company and offer complementary support
across go-to-market, product, talent, finance, and strategy
functions. Based in Austin, TX,
Elsewhere has invested in 17 companies throughout North America, Europe and Israel since its inception in 2016. To learn
more, visit https://elsewhere.partners.
Media Contact:
Erica Camilo
Connexa Communications for Elsewhere Partners
C: 610.639.5644
379567@email4pr.com
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SOURCE Elsewhere Partners