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Alternative Market Briefing

Turn/River Capital's fifth flagship fund soars to a $1.35bn hard cap

Friday, April 08, 2022

Laxman Pai, Opalesque Asia:

The technology growth equity and buyout firm Turn/River Capital has soared to a $1.35bn hard cap close for its fifth flagship fund, more than triple the size of its predecessor vehicle.

The San Francisco-based software investment firm said in a press release that the oversubscribed Fund V closed with strong support from all current investors, as well as a select number of notable new investors. The amount also includes $100 million from the employees of Turn/River Capital, as well as their friends and families.

"We are incredibly grateful to our investors, partner companies, and team members who have embraced our vision of operationally-driven investing, and have helped it become a reality," said Dominic Ang, Managing Partner at Turn/River Capital. "Turn/River was founded on the idea that software investing is most successful when software operators and investors work together side-by-side, and Fund V is a testament to that. It has been an active last twelve months for Turn/River with record investments and exits, and we hope to build upon this momentum in Fund V."

Turn/River Capital V would continue its strategy of investing in software and SaaS companies, which has seen it make 25 investments since it was founded a decade ago. Fund V will provide flexible capital for growth, liquidity, and acquisitions for software companies at all stages, it added.

Turn/River raised $420m for the final close of its fourth fund in 2020, two yea......................

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