Godspeed Capital has held a final and oversubscribed close of Godspeed Capital Investment Program II LP (Fund II) with $250 million in capital commitments.
Fund II was raised in less than six months and exceeded its $185 million initial target. Godspeed’s first fund, Godspeed Capital Investment Program I LP, closed with $155 million of capital in 2021.
Limited partners of Fund II include both new and existing United States-based institutional investors including Godspeed’s existing strategic partner East Rock Capital, a New York City-based multi-family office with $2.5 billion of capital under management. Other institutional investors include a public pension fund, endowments and foundations, and family offices.
Washington DC-headquartered Godspeed makes control investments in North American-based lower middle-market companies that have from $3 million to $30 million of EBITDA and are active in the defense and government services sectors. Godspeed was founded in 2021 and has completed 16 acquisitions under 3 platform companies.
Stratus, a Pennsylvania-based engineering, architecture, and consulting platform serving federal, commercial, industrial, transportation, and municipal infrastructure markets in the Southern United States was acquired in 2021; SilverEdge Government Solutions, a Virginia-based provider of cybersecurity, software, and intelligence services to the United States intelligence sector was acquired in 2021; and MOREGroup, a Texas-based architecture, design, engineering, and consulting platform serving the education, government, healthcare, and life sciences markets was acquired in 2022.
“We are proud to partner with these leading institutional investors and are grateful for the confidence they have placed in our team as we execute our strategy of collaborating with founders, entrepreneurs, and management teams across the defense and government services sectors,” said Douglas Lake Jr., the founder and managing partner of Godspeed. “We are thrilled with our initial investments and look forward to continuing to execute our strategy on behalf of our investors and partners and to growing our portfolio of leading companies.”
Lazard Frères & Co. was the exclusive placement agent for this fundraise and Davis Polk & Wardwell provided legal services.
© 2023 Private Equity Professional | May 26, 2023
