Denali Growth Partners has closed its first fund, Denali Growth Partners Fund I LP, with $203 million of capital.
The new fund was oversubscribed, and its limited partners include pension plans, funds of funds, family offices, and foundations. One of the marquee investors in Fund I is the State of Wisconsin Investment Board with a $50 million capital commitment.
“Denali is a firm built to identify fast-growing, capital-efficient businesses serving the healthcare ecosystem and partner with management teams to accelerate growth with our differentiated approach, strategy, and resources,” said Jesse Lane, the founder and managing director of Denali. “We are honored to have the support of numerous entrepreneurs who have built market-leading businesses as well as commitments from our institutional limited partners.”
Mr. Lane formed Boston-based Denali Growth in February 2021 to invest in the healthcare technology sector. He previously spent more than ten years with Summit Partners where he focused on investments in the technology, healthcare, and life sciences sectors.
Strathmore Group was the placement agent to Denali Growth on this fundraise. “We appreciate the support of Denali’s outstanding and diverse group of limited partners who mobilized quickly amid a global health crisis,” said John Cosgrove, the CEO of Strathmore. “While the past year has been a challenging period for emerging managers, we are fortunate to have partnered with an exceptional and forward-thinking investor base.”
DLA Piper provided legal services to Denali for the raising of its new fund.
© 2021 Private Equity Professional | April 6, 2021