Wednesday, April 17, 2024
HomeFunding NYC-based Riverside Secures RAC Riverside Acceleration Capital Opportunity Fund II, L.P....

[Funding alert] NYC-based Riverside Secures RAC Riverside Acceleration Capital Opportunity Fund II, L.P. at $235Million

NYC-based Riverside Secures RAC Riverside Acceleration Capital Opportunity Fund II, L.P., at $235Million. With the closing of this fund, RAC has increased its growth equity investment capacity by more than four times.

NYC-based Riverside Secures RAC Riverside Acceleration Capital Opportunity Fund II, L.P., at $235Million. With the closing of this fund, RAC has increased its growth equity investment capacity by more than four times.

RAC provides growth equity, growth royalty loans, advice and operating resources, specifically designed to help B2B software companies navigate the transition from their early scale-up phase to their rapid acceleration stage.

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RAC’s flexible capital, combined with the operating resources of its Growth Advisory Program, has supported more than 65 acceleration-stage software companies in their efforts to systematize growth, seize expansion opportunities, scale internationally and realize their potential.

RAC Managing Partner Jim Toth said, “We’re incredibly excited to announce the closing of RAC Opportunity Fund II, and grateful for the support of our investors, We are passionate about finding and fueling B2B software companies at growth inflection points, and we believe this fund will enable us to pursue that passion at an even greater scale. It furthers our mission of providing both flexible capital and value-added resources to support software innovation and growth.”

Riverside Co-CEO Stewart Kohl said, “We view this successful fund close as a strong statement of our market position and experienced team, Not just at RAC, but all across Riverside, we are focused on finding and backing B2B SaaS businesses with compelling growth potential. We believe these firms have the ability to change the way we work, make our days more efficient and interesting and improve our ability to collaborate with one another. Riverside is proud of its role in this ecosystem and looks forward to deploying this capital to further support it.”

Riverside Co-CEO Béla Szigethy said, “RAC embodies Riverside’s strategic commitment to fostering innovation and accelerating growth within the technology sector, Rather than a financial vehicle, we view it as a robust ecosystem designed to empower software companies at critical growth stages. With our multi-stage growth capital and Growth Advisory Program, we are poised to provide support to entrepreneurs who are working to reshape the way business is done in their clients’ end markets.”The Riverside Company is a global investment firm that aims to drive transformative growth and build lasting value in order to position itself as one of the top private capital choices for employees and business owners in the smaller end of the middle market.

About Riverside

The Riverside Company is a global investment firm that aims to drive transformative growth and build lasting value in order to position itself as one of the top private capital choices for employees and business owners in the smaller end of the middle market.

Read also – Ca-based Ambience Healthcare Secures $70Million in Series B Round Funding

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