Cypress Growth Capital, an investment firm which uses a royalty-based approach to back tech companies in the Southwest, held the first closing of its third growth capital fund.
Investors in CGC Royalty Investments III, LP., include a diversified group of family offices and select individuals active in the technology ecosystem.
The $42M fund provides an equity-preserving form of financing to emerging software and technology-enabled services companies in the Southwest with annual revenue of $3M to $20M, profitable or nearing profitability, at least two years of operating history, and growth capital needs up to $5M.
Led by Bart Goodwin, Co-Founder and Managing Director, Ed Mello, Co-Founder and Managing Director, Vik Thapar, Partner, and Joel Gheen, Principal, Cypress Growth Capital provides a flexible, patient form of capital suited to the unique financing needs of young, growing companies drawing on a track record of royalty-based investments in more than two-dozen software and technology-focused companies.
Founded in since 2011, Cypress Growth Capital has more than $100m of capital under management.