Aldrich Capital Partners has successfully closed its $256m debut private equity fund to target the US sectors including FinTech.
FinTech Global previously reported the firm has been within touching distance of hitting its $250m target for the fund. The vehicle will invest in FinTech, healthcare IT, and app software enterprises.
Virginia-based Aldrich was launched in 2014 by former Goldman Sachs managing director Raheel Zia and ex-AOL exec and Mirza Baig. The firm is focused on companies with over $10m worth of revenue in the FinTech, business services, software & cloud-services, and healthcare IT sectors.
North Sea Securities served as a placement agent for the fund in number of US states, a filing the firm lodged with the US securities regulator shows.
The fund, which was launched in May last year, has been used so far to back electronic payments business Paymerang, software-as-a-service business Lavu, and healthcare tech provider Woundtech.
Earlier in the year, the firm made a $26m growth investment into Paymerang to support the development of new jobs, products, sales channels, and operational infrastructure.
Aldrich founding partner Raheel Zia said, “Lavu, Woundtech, and Paymerang are highly innovative companies and industry leaders in providing disruptive technology-enabled solutions to their customers.
“As they accelerate their growth in US and global markets, they will leverage our extensive relationships and advisory network within the technology and regulatory ecosystems. We are excited to provide our strategic insight and operational expertise in helping these and other companies reach their full potential.”
Copyright © 2018 RegTech Analyst
