Providence Strategic Growth Capital Partners L.L.C., a Boston, MA-based affiliate of Providence Equity Partners L.L.C., a private equity investment firm with over $45 billion in aggregate capital commitments, closed its fourth fund with $2.0 billion of limited partner commitments.
PSG Fund IV received commitments from existing and new investors, including state pension funds, sovereign wealth funds, family offices and high net worth individuals.
The closing of PSG Fund IV increases the amount of PSG’s aggregate capital commitments to more than $4.0 billion.
Since its inception in 2014, PSG has partnered with founders and entrepreneurs to build software and technology-enabled service companies. PSG Fund IV will continue the Firm’s ‘buy and build’ strategy, to scale businesses through organic and inorganic growth strategies.
To date, Fund IV has made four investments in:
– Validity (a provider of software solutions for customer data management);
– GlobalTranz (a technology and third-party logistics solutions company);
– Chatmeter (a leader in local search marketing and reputation management for multi-location businesses); and
– a software platform that facilitates the transportation of passengers, goods and workers.
Led by Mark Hastings, Chief Executive Officer, and Peter Wilde, Chairman, PSG’s team of 58 growth equity investment professionals have made 46 platform investments across its portfolio and helped its portfolio companies complete over 200 add-on acquisitions.
Providence has also offices in Providence, New York and London.