Vival Capital Management Reveals $250M Emerging Cities Fund I to Advance Healthcare Tech, Sports, and Industrial Hubs
August 13 2024 - 10:49PM
Vival Capital Management, LP, a multi-strategy hedge fund,
announces the launch of its $250 million Emerging Cities Fund I,
targeting public equities and startups that drive business
ecosystem growth in emerging cities. With a focus on healthcare
technology, sports, and industrials, Vival plans to invest in up to
30 companies over the next few years and is seeing strong value
from early investments. The new firm has already secured $150
million in funding.
Vival Capital
"I am thrilled to introduce Vival Capital Management," said
Stephen N. Lackey, Founder and Managing Partner, whose background
includes managing over a billion dollars in family office and
government infrastructure investments.
Stephen N. Lackey, Founder and Managing Partner,
Vival Capital
The fund is backed by several family offices, a
hospitality-focused pension fund, and institutional investors like
the Alaska Permanent Fund Corporation. Emerging Cities Fund I will
be capped at $250 million and is on track to reach that number by
the fourth quarter of this year, with a second, half-billion-dollar
fund launching soon thereafter.
Vival, derived from the word "revival," is Lackey’s answer to
growing demand from fellow investors seeking to align with his
successful "total ecosystem model." This approach focuses on
investing in companies that deliver solid financial returns while
also contributing to the broader development and capabilities of
their headquarters city.
“We’re seeding new business and social ecosystems in places like
Las Vegas, where we have been immensely successful, and in cities
in the Southwest and Gulf Coast,” stated Lackey. “Over the last
decade, Vegas has emerged as a sports and industrial hub, with
adjacent industries like tech, healthcare, and film interplaying in
town. As the city has grown, so has our success investing in it.
Vival knows where the next ecosystems are forming. We are uniquely
positioned to foresee economic impacts and accurately forecast
investments that transform a good city into a great one and provide
significant returns for investors.”
Lackey, who is African American, also highlights the importance
of his entry into the hedge fund space as important to his
community and to the future of finance professionals of color.
“I am here to win,” Lackey said at a launch event in Las Vegas.
“As we continue to meet our funding targets and prepare for future
opportunities, Vival Capital Management is committed to driving
growth in emerging cities which translates into big wins for our
investors and the community.
Media Contact:
Leah Johnson
Vival Capital
ir@vivalcapital.com