New York, New York (PRWEB) September 03, 2014
Stripes Group (“Stripes”) announced that it closed its third institutional fund vehicle, SG Growth Partners III, L.P. (“Fund III”), with $500 million of commitments from institutional investors reaching both its target and hard-cap. With the close of Fund III, Stripes’ total assets under management are approximately $1.2 billion. Stripes' investors are primarily university endowments, foundations and financial institutions.
With Fund III, Stripes will continue to make $10 million to $100 million investments in fast-growing Internet, SaaS and Branded Consumer Products businesses primarily based in the United States and Europe. Stripes invests in both minority and buy-out transactions and typically looks to partner with companies that have raised limited prior institutional capital.
Drawing upon its team’s experience as current and former entrepreneurs, Stripes lends active support to help recruit talent, accelerate revenue growth, source add-on acquisitions and support other operational elements critical to growing companies.
Stripes has helped build and scale Internet companies including GrubHub Seamless, Elance-oDesk, Blue Apron and Refinery29, as well as Branded Consumer Products companies like SmartWool, Turtle Beach and Stella & Chewy’s, among many others.
Weil, Gotshal & Manges LLP served as legal counsel for the Fund.
About Stripes Group
Based in New York City, Stripes Group is a leading growth equity firm with approximately $1.2 billion in assets under management that invests globally in Internet, SaaS and Branded Consumer Products businesses. Stripes Group partners with founder-driven, market-leading companies with business models that can generate exceptional growth. For more information on Stripes Group, please visit http://www.stripesgroup.com.