Boston, MA-based Volition Capital has closed its latest fund, with aggregate capital commitments of over $170m.
Volition Capital Fund II, L.P., which was oversubscribed on its original target of $150m, has been supported by university endowments, non-profit foundations, major corporations, fund-of-funds, and family offices.
Led by Larry Cheng and Roger Hurwitz, Volition Capital is a growth equity firm focused on investing in Internet, software and technology-enabled services businesses companies.
The firm specializes in investing in companies exhibiting the following characteristics:
· Solid Revenue Base: $5 million -$20+ million
· High Growth: 30%-100%+ top line growth
· Meaningful Founder Ownership: 20%+
· Capital Efficient: Near Breakeven or Profitable
The fund, which will make 10-12 investments with a typical size of $5m – $20m, has already closed two operations.