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Laxman Pai, Opalesque Asia: Business and financial technology-focused investment firm Long Ridge Equity Partners collected $730 million for its fourth fund in three months, overcoming difficult fundraising conditions.
The New York private equity firm, which focuses on backing companies in the financial technology and business-tech sectors, wrapped up Long Ridge Equity Partners IV with $650 million from institutional investors and $80 million from Long Ridge executives and advisers.
According to a press release from the private investment firm, new and returning investors in Fund IV include leading endowments, foundations, public pensions, asset managers, insurance companies, wealth managers, and family offices. 100% of the institutional investors in Long Ridge Equity Partners III returned as investors in Fund IV.
Jim Brown, Founder & Managing Partner of Long Ridge said: "Despite a volatile market backdrop, our collaborative approach to building market-leading financial and business technology companies has remained highly consistent and successful, which resonated with a world-class group of investors in Fund IV."
Consistent with its predecessor funds, Fund IV will target majority and significant minority investments in high-growth financial and business technology firms led by exceptional management teams, said the release.
"We are incredibly grateful to the founders and executives who have chosen to partner with Long Ridge to grow, professionalize, and ...................... To view our full article Click here
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