Luminate Capital Partners has closed Luminate Capital Partners II LP with $425 million of committed capital. The firm’s earlier fund closed in June 2017 with more than $265 million of capital commitments.
Luminate makes control investments in companies operating in the software and software-enabled services sectors. Specific areas of interest include vertical applications, SaaS, back office and supply chain, marketing automation, e-commerce, data and analytics, and software-enabled services. The firm was founded by Hollie Haynes and is headquartered in San Francisco (www.luminatecapital.com).
“We are very pleased with the investor response to Fund II which exceeded our expectations,” said Ms. Haynes. “As we have demonstrated our ability to generate attractive returns, we have continued to build additional institutional support from investors who understand our emphasis on the software sector. We look forward to building strong partnerships with our investors as we continue our track record of building leading companies.”
Investors in the new fund, which was oversubscribed, include endowments, foundations, public and corporate pensions, asset management firms, and family offices.
Moelis & Company was the placement agent for this fundraise and Kirkland & Ellis provided legal services.
© 2018 Private Equity Professional | December 5, 2018