KEYWORDS: Funds, Rally Ventures, Ada Ventures, Crossplane Capital, Forbion, Highland Europe, Curio Wellness, Venture Capital, Private Equity, Crossplane Capital Fund
NEW FUNDS
Rally Ventures, a Menlo Park, CA- and Minneapolis, MI-based technology venture capital firm, closed Rally IV, at $250m
London, UK-based seed venture capital firm Ada Ventures closed its first fund, at $50m
Crossplane Capital, a Dallas, TX-based private equity firm, closed its inaugural fund, Crossplane Capital Fund, L.P., at $275m
Forbion, a Naarden, The Netherlands and Munich, Germany-based life science venture capital firm, secured its fifth flagship fund, Forbion V, at €460m
Pan European private equity firm Highland Europe closed its fourth fund, at €700M
Timonium, Md.-based medical cannabis and wellness company Curio Wellness has launched a new $30m funding program
OTV (formerly known as Olive Tree Ventures), an Israel-based digital health first venture capital firm, closed a fund, at $170M
Scale Venture Partners, a Foster City, CA-based venture capital firm, closed its latest fund, at $600m
PRESS RELEASE
DALLAS–(BUSINESS WIRE)–Crossplane Capital (“Crossplane”), a Dallas-based private equity firm that targets control investments in niche manufacturing, value-added distribution and industrial business services companies, today announced the final closing of its inaugural fund, Crossplane Capital Fund, L.P., at its $275 million hard cap.
Crossplane was founded in October 2018 by partners Brian Hegi and Ben Eakes, managing director Mike Sullivan and operating partner Ingrid West, to invest control equity into companies with up to $15 million of EBITDA that are either family owned and seeking a partner or involved in a complex situation. Since its founding, Crossplane has completed three platform acquisitions, including The Accent Family of Companies in September 2019, TransAxle in December 2019 and Griffin Dewatering in November 2020. From its initial 4-person team, Crossplane has grown to an 11-person team with deep experience as senior executives, operational improvement consultants, strategy consultants, restructuring advisors and private equity investors.
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