Strattam Capital has closed Strattam Capital Investment Fund II LP at an above-target $230 million. The firm’s earlier fund closed in 2015 with $109 million of capital.
Strattam makes control investments in founder-led enterprise software, digital infrastructure, and tech-enabled services companies with enterprise values of up to $80 million and revenues from $10 million to $30 million.
Fund II received strong support from both existing and new investors. “My colleagues and I would like to thank our investors for the trust they have placed in us and in the potential of our business IT-focused value-creation process,” said Bob Morse, a managing partner of Strattam.
Fund II acquired its first company in February 2018 with a majority investment in SSB, a data management and analytics platform provider to the sports & entertainment, education, and healthcare sectors. Strattam partnered with SSB’s senior management team and incoming CEO Mike Banville on this transaction.
SSB’s main product, Central Intelligence Platform, is delivered as a Software-as-a-Service (SaaS) and integrates data from multiple and disparate sources into real-time actionable data. The company works with more than 60 brands in the sports and entertainment sector as well as 15 educational institutions in both higher education and K-12 markets. In the sports and entertainment sector, its customers include NASCAR, the NHL, NBA, Pac-12 Conference, SEC, and NFL – where, in addition to the league, SSB works with nearly half of all NFL teams. SSB was founded in 2008 and is headquartered near Denver in Greenwood Village, CO with additional offices in Nashville and Austin (www.ssbinfo.com).
In addition to SSB, Fund II has made control investments in Rock Solid Technologies, a San Juan, Puerto Rico headquartered provider of SaaS-based government software and IT services (November 2018); and Acendre, a Melbourne, Australia headquartered provider of cloud-based talent management software for regulated industries (December 2018).
Fund II plans to make seven to nine majority equity investments each ranging from $20 million to $50 million in established companies with products across the enterprise software, digital infrastructure and technology-enabled services sectors.
UBS Securities was the placement agent for this fundraise and Weil, Gotshal & Manges provided legal services.
Strattam Capital has offices in San Francisco and Austin (www.strattam.com).
© 2019 Private Equity Professional | February 26, 2019