Periscope Equity, a Chicago, IL-based private equity firm focused on investing in technology-enabled services and software companies, closed its second institutional fund, Periscope Equity II, L.P. , at $225m.
The fund received support from an experienced group of limited partners, including university endowments, pension funds, charitable foundations, funds-of-funds and family offices.
Periscope completed the fundraise of its inaugural fund in 2018 with $104 million of capital commitments.
Led by Steve Jarmel, Founder and Partner, and John Findlay, Partner, Fund II will continue to execute on Periscope’s investment strategy of control buyouts of founder-owned technology-enabled services and software companies across digital marketing, business process automation, security solutions, and healthcare technology. Since inception, Periscope has completed seven platform investments, three of which have been successfully exited, and 17 add-on acquisitions.
M20 Private Fund Advisors acted as placement agent and Kirkland & Ellis LLP acted as legal counsel to Periscope for Fund II.