AUSTIN, Texas, Jan. 27, 2023 /PRNewswire/ -- Tritium Partners ("Tritium"), a private equity firm investing in growth companies in the lower middle market, announced it held a final closing on its third fund, Tritium III, with $684 million of committed capital. The fund exceeded its target and represents a nearly 50% increase over Tritium's 2019 second fund. Tritium III received broad support from existing investors, who in aggregate considerably increased their commitment levels in this fund, as well as from several new, substantial institutional investors. The fund's investors include leading retirement systems, private pension plans, university endowments, foundations, diversified financial institutions and insurance companies. Tritium now manages nearly $1.5 billion of capital commitments across its funds.
For over 20 years, Tritium's founders have invested in companies with exceptional growth potential in industries where the team has significant domain expertise. The firm's investments will remain predominantly focused on internet marketplaces, supply chain and logistics, fintech and financial services, software, data and analytics, and tech-enabled business services companies. The team will continue its strategy of partnering with talented founders and executives who want to accelerate growth and build market-leading companies.
"We are extremely excited to have received such strong support from current Tritium investors and are proud of the new investors we have added," said Philip Siegel, Managing Partner and Co-Founder of Tritium. "Tritium's limited partners share our belief that growth-focused investing in the lower middle market offers opportunities for those willing to do the hard work required to scale businesses with great potential."
The firm has completed 24 platform investments across Tritium I and II. Tritium has also completed its first three investments in Tritium III.
"Since closing our last fund, we have delivered substantial liquidity to our investors, grown our team and added several companies with exceptional potential to our portfolio," said David Lack, Managing Partner and Co-Founder of Tritium. "We appreciate the confidence our investors have shown in us in this fundraise and are excited to continue our work for them."
"Our approach is to bring growth-focused strategic and operational experience to help the technology and services companies we back be better positioned for future success," said Matt Bowman, Managing Partner of Tritium. "Most importantly, we look forward to building strong partnerships and lasting relationships with founders and executive teams with this new fund."
Weil, Gotshal & Manges LLP acted as legal counsel.
About Tritium Partners
Founded in 2013, Tritium Partners is a private equity firm focused on technology and services companies with exceptional growth potential. With nearly $1.5 billion of committed capital raised, Tritium actively partners with talented founders and executives to strive to build market-leading companies through high-growth strategies, while maintaining capital efficiency. Tritium's approach emphasizes creating long-term value through both strategic growth initiatives and acquisitions, with specialized expertise in internet marketplaces, supply chain and logistics, fintech and financial services, software, data and analytics, and tech-enabled business services companies. For more information, please visit www.tritiumpartners.com.
Tritium is not making an offer or invitation of any kind by this release and in no event shall it be construed as a prospectus or an advertisement. No reliance may be placed upon the contents of this communication by any person for any purposes whatsoever. The Fund was offered and sold only to investors meeting certain qualifications, including "accredited investors" under the U.S. Securities Act of 1933, as amended. This release contains "forward-looking information" within the meaning of applicable securities laws and regulations. Undue reliance should not be placed on forward-looking statements and information, which involve known and unknown risks, uncertainties and other factors, which may cause results, performance or achievements to differ materially from anticipated future results.
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