Tritium Partners, an Austin-based private equity firm investing in growth companies in the lower middle market, has closed its third fund, Tritium III, with $684 million of committed capital.
The fund exceeded its target and represents a nearly 50 percent increase over Tritium’s 2019 second fund. The firm’s investments will remain focused on internet marketplaces, supply chain and logistics, financial technology and financial services, software, data and analytics and tech-enabled business services companies. Tritium looks to continue its strategy of partnering with founders and executives who want to drive growth and build their companies. The firm now manages nearly $1.5 billion of capital commitments across its funds.
“Our approach is to bring growth-focused strategic and operational experience to help the technology and services companies we back be better positioned for future success,” says Matt Bowman, managing partner of Tritium. “Most importantly, we look forward to building strong partnerships and lasting relationships with founders and executive teams with this new fund.”
Weil, Gotshal & Manges LLP acted as legal counsel.