Carrick Capital Partners has held the final close of its first fund with $180 million in capital commitments. The fund will invest in companies that focus on technology-enabled service offerings, business process outsourcing, transaction processing, software as a service and enterprise software.
Carrick Capital Partners was co-founded by Marc McMorris, a former General Atlantic managing director who led investments in business services and software, and Jim Madden, the previous founder and chief executive of Exult, a human resources business processing company that he grew from concept to more than $500 million in revenues.
Carrick Capital Partners takes an operational approach to growth equity investing, bringing to bear a combination of operational and investment expertise to help entrepreneurs and management successfully scale their businesses. “We are very pleased by the response to this fund. It underscores the market’s appreciation of our investment strategy and approach – helping good companies scale and achieve even greater success,” said Mr. McMorris.
“Carrick Capital Partners seeks to invest in companies that possess the right fundamentals to significantly grow their operations,” said Mr. Madden. “We will leverage our experience building and actively investing in fast growing businesses to work closely with CEOs and founders.”
Carrick Capital Partners invests in companies with revenues of $5 million to $ 50 million that serve large markets with business models that allow for increasing profitability as they gain scale. The firm was founded in 2012 and is based in San Francisco (www.carrickcapitalpartners.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-28-12