PRINCETON, N.J.—OCT. 11, 2018—Edison Partners, the leading growth investment firm, today announced the closing of its latest growth equity fund, Edison Partners IX. The $365 million fund was significantly oversubscribed from its $300M target and is the largest in the firm’s 32-year history.
Edison Partners exclusively focuses on growth investing and has led the industry’s development of growth equity as a distinct asset class. Edison VIII, a $276 million fund closed in 2016, recently made its final investment in Bento for Business.
“For more than 15 years, we have invested in the underserved part of growth equity: high-growth, capital-efficient technology companies, with revenue of $25M or less in geographies outside of Silicon Valley. We sized Edison IX to match our strategy, sector and company stage focus. We are very appreciative of the confidence and commitment our investors continue to share in our differentiated strategy and approach to alpha generation,” said Chris Sugden, Managing Partner, Edison Partners.
Edison Partners invests across three key sectors: Enterprise Solutions, Financial Technology, and Healthcare IT. In 2018, the firm was named the Top Fintech Equity Investor by LendIt Fintech. More than 90 percent of the firm’s current investments are in the MidAtlantic, Midwest, Southeast and South, with active and recently exited investments in Florida, Georgia, Indiana, Maryland, Michigan, New Jersey, Ohio, Pennsylvania, Texas and Virginia.
The firm brings both investing and operating resources to every investment. This unique, integrated, team-based approach is further powered by the firm’s Edison Edge operating platform, which spans go-to-market effectiveness, financial planning and controls, SaaS and data product management, human capital management, board leadership, M&A, and capital formation and exit strategies.
“With 12 partners, who each bring more than 15 years of investing and operating experience, our depth and breadth is unmatched by firms with similar AUM, and investing at the same stage and size,” said Sugden. “Our resources, programs and content are proprietary and true value-add to portfolio companies -- not the industry’s typical third-party or in-house consulting model.”
Edison IX investors include corporate and public pension plans, endowments, fund-of-funds, insurance companies and family offices, including New Mexico Educational Retirement Board, Rutgers University, Hirtle Callaghan, American Family Insurance and Renaissance Venture Capital Fund.
“We have invested in each of Edison’s last three funds. Their team and investment strategy are proven and differentiated. Growth equity provides us with upside return opportunities similar to venture capital, but with the downside risk profile of buy-outs. We are very pleased to continue to invest with the Edison Partners team,” said Steve Neel, Deputy Chief Investment Officer, New Mexico Educational Retirement Board.
Since its inception in 1986, Edison Partners has invested in more than 200 companies and completed 180 total exits. Recent exit successes include ComplySci, Billtrust and eSentire. The firm’s active portfolio currently consists of 42 companies.
Edison IX has already experienced significant momentum with four recent investments, three in the Midwest, including Blue Medora (Grand Rapids, Michigan), Emplify and Sigstr (Fishers and Indianapolis, Indiana), and Giant Oak of Arlington, Virginia.
About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United States.