Anacapa Closes Fund III

Anacapa Partners, an investor in lower middle market companies, has closed its third fund with $79 million in commitments.

Anacapa focuses exclusively on search fund investments, providing a vehicle for entrepreneurs to find, acquire, manage and grow businesses. Typical investment targets will have stable and recurring revenue, a history of profitability, and current EBITDA of $1 million to $5 million.

Anacapa works closely with its entrepreneurs, typically recent graduates of top-tier MBA programs as well as special operations military veterans, in all phases of the investment process, including business screening, due diligence, negotiation of deal structure, operating oversight, and exploration of exit strategies.

“We are pleased to complete this fund raise and excited to continue partnering with individuals, including elite talent that has transitioned from the military, who seek to pursue an entrepreneurial path,” said Jeff Stevens, founder and managing partner of Anacapa. “Given changing demographics in the US and the increased need for baby boomers to transition out of business operating roles, we see continued opportunity for employing the search fund model. With the successful raise of Fund III in an increasingly competitive market, we sincerely thank our investors, operators, advisors and all those with whom we partner for their continued commitment to Anacapa.”

“Along with deep knowledge of search fund investing, Anacapa has a well-earned reputation for working collaboratively with entrepreneurs to drive true value creation in promising companies,” said Colby Lane, CEO of PEC Safety, a Mandeville, LA-based provider of safety training and online reporting of safety information. “After investing in PEC in November 2014, Jeff and Managing Director Ashley Giesler served on PEC’s board and provided continued guidance and support on all aspects of operating and growing our business, with demonstrable positive results, culminating in our sale to Thoma Bravo in December 2018.”

Palo Alto-headquartered Cooley LLP (www.cooley.com) provided legal services to Anacapa for this fundraise.

Anacapa was founded in 2010 and has now raised $120 million across three funds and invested in 45 businesses. The firm is headquartered near San Francisco in San Mateo, CA (www.anacapapartners.com).

© 2019 Private Equity Professional | February 27, 2019

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