Irvine, CA-based private equity firm Prelude Partners has just closed its inaugural fund.
Prelude Partners Fund, LLC, will target businesses with $10m – $50m in annual revenue and at least $2m in EBITDA, with a focus on founder-owned companies.
The firm aims to deploy the capital in the next 12 – 24 months. Their broad industry focus is within the services sector of the economy, including healthcare services, insurance, education, corporate/legal services and many other niche sub-verticals — with a preference for business models with significant recurring revenue.
Led by Tanner Ainge, founder and Managing Partner, Prelude has an investor group comprised of prominent business leaders, including entrepreneurs and executives that grew small and medium sized businesses into multi-billion dollar enterprises, faculty members from Stanford Graduate School of Business and founders of private equity firms (have a look at them here).