Denali Doubles Up

Denali Growth Partners (DGP) has held a final close of Denali Growth Partners Fund II LP with $400 million in limited partner commitments, surpassing its $350 million target. DGP’s first fund closed in April 2021 with $203 million in capital.

Limited partners in the new fund include both returning and new institutional investors such as pension plans, insurance firms, family offices, funds of funds, endowments, foundations, and asset managers.

DGP invests in profitable, growing companies operating in sectors such as healthcare, life sciences, professional services, technology-enabled platforms, and software.

Earlier this month, DGP invested in Tobin Scientific, a company in Massachusetts that helps pharmaceutical and biotech firms store and move sensitive materials. This includes storing drugs and biological samples in tightly controlled, sterile environments (known as cGMP storage), operating biobanks to preserve research materials, and handling complex logistics like transporting freezers filled with vaccines or lab equipment across the country. For example, Tobin might store experimental cancer drugs for a clinical trial or deliver cryogenic freezers containing tissue samples to a research facility.

“We are incredibly grateful for the trust and support from our limited partners. Their collective conviction in our approach, and in the entrepreneurs we back, has been foundational to everything we do,” said Jesse Lane, the founder and managing director of DGP. “DGP was founded to bring founder-aligned growth capital to companies doing extraordinary things, often outside the limelight.”

Since its founding in 2021, DGP has invested in 11 platform companies that, when combined, generate more than $900 million in revenue and produce over $100 million in EBITDA.

Denali Growth Partners is headquartered in Boston.

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