Nexa Equity has closed its inaugural fund, Nexa Equity Fund I LP, with more than $180 million in capital commitments.
Limited partners in the fund include university endowments, foundations, investment advisers, fund-of-funds, family offices, and entrepreneurs. In addition to its new fund, Nexa has raised an additional $150 million through transaction-specific co-investment vehicles, bringing the firm’s total capital under management to just over $330 million.
Nexa invests in lower-middle market application software and fintech businesses. To date, the firm has completed five platform investments including AutoReturn, a San Francisco-based SaaS provider of towing and parking enforcement software used by local and state governments (August 2021); Leap, a Maryland-based software platform used by contractors to provide sales bids to potential clients (December 2021); Choice, a Connecticut-based platform that provides multiple electronic payment types and tools to independent software vendors, payment facilitators, merchants, and independent sales organizations (April 2022); HomeTown, an Ohio-based ticketing platform used by K-12 schools to manage their events, sell reserved seating online, and oversee gate admissions (April 2022); and Storewise, a Kansas-based provider of retail automation software used by independent grocery stores to streamline operations and improve store profitability (May 2023).
Nexa Equity was founded in 2021 by Vlad Besprozvany, a software and fintech investor who earlier in his career was with Insight Partners and Thoma Bravo. Today, the San Francisco-based firm employs 14 investment and operating professionals.
“We are thrilled that Nexa Equity’s inaugural fund has received the support of a distinguished group of investors. We thank them for their confidence in our team and strategy and look forward to many years of continued partnership,” said Mr. Besprozvany. “We have built a firm dedicated to collaborating closely with founders and management teams of high-growth lower-middle market software and FinTech companies. We are excited about the many opportunities ahead and look forward to empowering additional visionary management teams as they build transformative software companies.”
Nexa used FirstPoint Equity as its placement agent and Kirkland & Ellis provided legal services.
© 2023 Private Equity Professional | July 20, 2023
