Wavecrest Growth Partners Closes First Fund, at $190M

private-equityWavecrest Growth Partners, a Boston, MA-based private equity firm, closed its first fund, at over $190m.

Backers included public pension funds, endowments and foundations, fund-of-funds, insurance companies, and family offices.

The fund invests between $7m and $30m in B2B technology companies that have a proven product, market, and business model. To date, it has made investments in:
– Building Engines, a commercial real estate property management software company serving property owners and operators in North America;
– Tier1CRM, a vertical CRM software company serving financial services firms; and
– SpinCar, a software and technology-enabled services company to discover and purchase cars online.

Founded by partners Deepak Sindwani and Vaibhav Nalwaya, Wavecrest is a growth equity firm that backs capital-efficient B2B technology entrepreneurs outside of Silicon Valley to accelerate their business plans and optimize performance through a combination of capital and real operating knowledge and experience. It leverages a combination of best practices and a deep network of proven B2B technology operating executives, built through working with over 30 operating companies in the last 15 years.

FinSMEs

06/03/2019

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