Interlock Equity has closed its inaugural fund, Interlock Fund I LP, with $390 million in capital commitments.
The new fund was oversubscribed and received capital commitments from a range of institutional limited partners including endowments, foundations, family offices, gatekeepers, pension plans, insurance companies, and fund of funds.
“We are beyond grateful for the immense support we’ve received from our new limited partners and look forward to continuing to partner with people-based businesses and help drive transformational growth,” said Rob Zielinski, a co-founder and managing partner of Interlock.
Interlock invests in North America-based business-to-business services companies that have revenues of $15 million to $150 million. Sectors of specific interest include professional staffing, strategy and management consulting, life sciences services, digital and tech-enabled services, marketing services and healthcare services.
To date, Interlock has made investments in Investor Group Services, a Boston-based consulting firm serving the private equity industry (December 2022); Lovelytics, a Virginia-based provider of data, analytics, and AI consulting services (June 2023); and Apply Digital, a British Columbia-based provider of digital products and services to support customer experience and e-commerce strategies (January 2022).
Interlock engaged Acalyx Advisors as its placement agent on this fundraise and Kirkland & Ellis provided legal services.
Interlock was founded in January 2021 and is headquartered in Los Angeles.
© 2023 Private Equity Professional | September 19, 2023
