Thayer Street Partners Management LLC, a New York City-based private investment firm that provides capital to technology-enabled financial, real estate and business services companies, has closed its Thayer Street Partners Opportunity Fund II LP with total capital commitments of over $275 million, exceeding its target.

Fund II will target investment opportunities in recurring revenue businesses in the lower middle market where Thayer Street has investment experience, a network of relationships and a track record of helping businesses scale through organic growth and strategic acquisitions. Thayer Street will invest an initial targeted range of $5 to $50 million per transaction with scalability, using its sector experience and underwriting and operating experience to partner with entrepreneurs and management teams.

“Fund II will build on our approach of providing flexible capital solutions to support our partner companies’ growth objectives and foster shared long-term success,” says Josh Koplewicz, founder and managing partner of Thayer Street.