Thayer Avenue Companions, which describes itself as a personal funding agency that gives versatile progress capital to technology-enabled monetary, actual property, and enterprise companies corporations, introduced it has closed greater than $275 million for its Thayer Avenue Companions Alternative Fund II, LP.
The corporate mentioned it acquired robust assist from present buyers of their debut fund, managed accounts, and varied co-investment autos, in addition to from a broad base of latest restricted companions.
The brand new fund will concentrate on funding in “resilient, recurring income companies within the decrease middle-market.” That’s an space usually neglected by funding funds. Center-market have various definitions, relying on the supply. A typical annual income dimension can run from $10 million to $1 billion. Decrease middle-market could be $10 million to perhaps $100 million or so. These are corporations sometimes with fewer selections in financing however that usually have important primarily based of enterprise and the potential for ultimately rising right into a extra substantial firm, giving an upside to funding.
Preliminary investments can be in a goal vary of “$5 to $50 million per transaction with important scalability, leveraging its sector experience and intensive underwriting and working expertise to associate with entrepreneurs and administration groups to instill institutional finest practices, unlock worth and speed up progress.”
Thayer Avenue says that to this point it has made greater than 30 investments in monetary companies, enterprise companies, and actual property companies sectors.
Thayer works with three various kinds of investments. First is progress fairness, both main progress capital or secondary liquidity, from late-stage enterprise to mature progress phases, and sometimes non-control however significant minority positions. There’s versatile debt with both structured asset financing, company notes, or asset funding. Lastly, there are platforms, finance joint ventures, or particular objective autos.
Thayer Avenue says that its funding crew members all labored at personal fairness, personal credit score, or funding banking corporations and that they’ve “intensive working and funding expertise, and sector experience within the technology-enabled enterprise and monetary companies sectors.”
The agency additionally has enterprise advisors who’re “former Fortune 100 CEOs and senior administration, present and former board members of main monetary establishments and insurance coverage corporations, and profitable know-how entrepreneurs.”
