Serent Capital, a San Francisco and Austin based private equity firm focused on investing in high-growth technology and services businesses, announced the closing of its fourth fund, Serent Capital IV, at $750 million.
Serent’s Fund IV was oversubscribed, just as its prior three funds were. The funds also continue to enjoy a remarkably consistent and longstanding investor base. This has led to abbreviated fundraising timeframes and has allowed limited room for new investors, despite the firm’s growth.
“We are humbled by the loyalty that our existing investors showed in re-subscribing with our latest fund. That level of loyalty is identical to how we feel toward our investors, and consistent with our value of partnership,” stated Kevin Frick, Partner and Co-Founder of Serent Capital. He continued, “We also welcome the few, select, new investors who we were able to invite to join Fund IV. We look forward to many productive years together.”
The strategy of the fund will remain focused on investing in successful, bootstrapped businesses where Serent’s business-building capabilities can help drive future growth. Serent’s dedicated Growth Team works with its portfolio companies to scale their business through building out sales and marketing, recruiting and hiring executive team members, and other value creation initiatives.
“While we all know the future will bring twists and turns, we have never felt more confident in our strategy, the intellectual property that we bring to bear against that strategy, and most of all the team/culture here at Serent,” said Lance Fenton, Partner of Serent Capital.
He continued, “We are particularly proud to welcome Prital Kadakia and Stewart Lynn to the partnership. During their years at Serent, they have proven not only to be exceptional investors and business builders, but also torchbearers of the firm values to which we hold dear.”
Since its founding in 2008, Serent has invested in over 40 companies and, with Fund IV, the firm has approximately $2 billion in committed capital.
“In addition to being recognized last year as a Founder Friendly firm by Inc Magazine, reaching this milestone is a testament to the deep partnership that we create with our companies,” said Frick. “This is a milestone not only for Serent, but for all of the Founders, CEOs, management teams, employees and Boards of the many companies with whom we have been fortunate to invest and to collaborate.”