Vival Capital launches $250M fund
to accelerate healthcare, sports, and industrial growth in emerging
U.S. cities, securing $150M in early
investments
LAS
VEGAS, Aug. 27, 2024 /PRNewswire-PRWeb/ --
Correction: Alaska Permanent Fund Did Not Make an Investment.
In our press release, it was stated that the Alaska Permanent Fund
Corporation was an investor in Vival Capital Management's
$250 million Emerging Cities Fund I.
This was incorrect. The Alaska Permanent Fund Corporation has not
made an investment in this fund. We apologize for the error and any
confusion this may have caused.
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.
"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.
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,
888-888-8888, ir@vivalcapital.com,
https://www.vivalcapital.com/
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SOURCE Vival Capital