PeakSpan Capital has closed its third fund at $567 million. Fund III’s limited partners include pension funds, foundations, educational and financial institutions and entrepreneurs who previously partnered with PeakSpan. Based in New York City and Silicon Valley, the firm invests in business software companies.
SAN MATEO, Calif. and NEW YORK, Jan. 19, 2022 /PRNewswire/ — PeakSpan Capital (“PeakSpan” or the “Firm”), an investment firm focused on growth-stage business-to-business software companies, today announced that it has closed its oversubscribed third growth fund (“Fund III” or the “Fund”) comprised of a primary vehicle with committed capital of $567 million. Fund III’s Limited Partners include a diverse base of new and existing investors, including pension funds, foundations, educational and financial institutions, and entrepreneurs who previously partnered with PeakSpan.
Founded in 2015, PeakSpan is committed to its mission of being the partner of choice for best-in-class software entrepreneurs who are looking to scale sensibly and capitalize on strategic, high-quality market opportunities. Through a highly focused and proprietary data-driven strategy, PeakSpan partners with software entrepreneurs with the goal of delivering the best risk-adjusted outcomes. PeakSpan combines an “old school”, relationship-driven, domain-centric, and highly-focused approach to working with companies, with a “new school” application of enriched data and technology-assisted processes across the entire investment lifecycle, from origination through partnership value-add. With the close of its third fund, PeakSpan expects to grow its assets under management to $1.4 billion.
Similar to PeakSpan’s prior funds, Fund III will target equity investments in growth-stage business software companies with a focus on solutions across twelve defined categories including human capital management, customer experience management, next-gen security, supply chain management, sales technology, e-commerce services, and infrastructure software. The Fund’s team is comprised of seasoned domain experts with deep industry expertise in PeakSpan’s target categories to fully support entrepreneurs and act as a resource throughout the investment lifecycle.
“We are thrilled to have completed the close of our third and largest fund to date and greatly appreciate the strong support from both new and existing Limited Partners,” said Phil Dur, Co-Founder and Managing Partner of PeakSpan. “The closing of Fund III, which was substantially oversubscribed and hit its hard cap, reinforces our continued success in identifying compelling investment opportunities, partnering with innovative companies, and delivering outstanding outcomes for entrepreneurs and our Limited Partners. We look forward to continuing our momentum as we deploy Fund III and actively collaborate with entrepreneurs to scale businesses and drive strong, sustainable value creation.”
“This is an important step for PeakSpan as we extend our leadership as the partner of choice for emerging software entrepreneurs,” said Brian Mulvey, Co-Founder and Managing Partner of PeakSpan. “The close of our third fund allows us to continue leveraging our proprietary company intelligence platform, ADA, and our content analytics and sector intelligence platform, DEWEY, to identify promising prospects and assist our portfolio companies across a broad range of projects, including lead generation for sales teams, market and competitive analysis, and customer satisfaction analytics.”
“PeakSpan is differentiated through our collaborative approach and rich technology assets,” said Matt Melymuka, Co-Founder and Managing Partner of PeakSpan. “With the close of our third fund, we will continue to advance our focused approach to drive scalable and consistent results as we accelerate growth across our portfolio companies.”
“I am excited to join the fund as an investor following such an exceptional experience as an entrepreneur that previously partnered with PeakSpan,” said Dimitris Tsingos, Co-Founder of Starttech Ventures and PeakSpan portfolio partnerships, Epignosis and Yodeck. “I have seen firsthand the dedication of the PeakSpan team and the unique benefits of its emphasis on transparent, collaborative relationships with its management team. I look forward to what we will accomplish together as we join forces again.”
During the past year, the Firm has successfully announced seven full and partial liquidity events and seven new investments. Recent exits include the sale of Ecwid Inc. to LightSpeed Commerce Inc. and the sale of Kenna Security Inc. to Cisco Systems Inc. Recent investments include Simfoni Ltd., Vyond Inc., and Kudoboard Inc.
PeakSpan closed its $150 million inaugural fund in January 2016 and closed its $265 million Fund II in December 2018. It has partnered with 29 businesses across the two funds and has delivered an excellent track record of consistent and robust growth, and clear evidence of value creation across both of the prior funds.
About PeakSpan Capital
Based in New York City and Silicon Valley, PeakSpan Capital is a growth equity firm with a singular mission to be the partner of choice for growth-stage entrepreneurial teams building amazing business software companies. PeakSpan combines deep domain expertise within a select number of themes with an active partnering approach to help entrepreneurs drive excellent risk-adjusted growth and value creation. PeakSpan Capital prides itself on a collaborative approach to working with entrepreneurs and other stakeholders.