Technology investor Lone View Capital has closed its inaugural fund, Lone View Capital Fund I LP, with $850 million of capital.
Limited partners in Fund I include university endowments, sovereign wealth funds, charitable foundations, pension funds, asset managers, insurance companies and family offices.
Los Angeles-headquartered Lone View invests in software, information services and technology-enabled businesses. The firm was co-founded by Managing Partner Rishi Chandna and Partner Doug Ceto, who worked closely together at Golden Gate Capital, where they co-led the firm’s software and services vertical. In addition, Senior Operating Partner Jim Schaper, an experienced CEO and former operating executive at Golden Gate, joined Messrs. Chanda and Ceto shortly after the January 2022 launch of Lone View.
“We established Lone View to build upon our team’s proven track record of delivering significant returns by closely partnering with management teams to help maximize revenue growth and earnings potential,” said Mr. Chandna. “We are grateful for our investors’ trust and support and are excited to generate long-term value by fostering the next generation of market-leading businesses.”
“For over a decade, Rishi, Jim and I have worked hand in hand alongside a talented team of technology investors and operators. We look forward to leveraging our consistent and highly focused approach to capitalize on this attractive market opportunity,” said Mr. Ceto.
Fund I has completed platform investments in TREND Health Partners, a Maryland-based provider of credit balance management and payment accuracy services for healthcare payers and providers (January 2023); and Smartlinx, a New Jersey-based provider of workforce management and human resources software – scheduling, time and attendance, payroll, and compliance – to post-acute and long-term care facilities (July 2023).
“As a new firm, we have a unique opportunity to develop a more integrated – and more effective – partnership between investors and operators that can help our portfolio companies accelerate their value creation initiatives,” said Mr. Schaper.
Kirkland & Ellis provided legal services to Lone View on this fundraise.
With the close of Fund I, Lone View now has approximately $1.1 billion in assets under management.
© 2024 Private Equity Professional | April 11, 2024
