Updata Partners, a Washington, DC-based technology growth equity firm, is raising its latest fund.
According to a form filed with the SEC, Updata Partners VI, L.P., has a target of $300m. No funds have been raised, yet.
The document lists GPs Carter Griffin and Jon Seeber as people related to the offering.
Led by Griffin, Seeber and Barry Goldsmith (the other GP), Updata provides growth capital to software and software-enabled businesses and supports them via the team’s operating experience, to scale operations, expand to new markets, accelerate a new product launch, or provide liquidity to a founder or early investor.
The firm’s investment focus areas include:
– Infrastructure & Application software companies
– Software-as-a-Services companies
– Technology-enabled services companies
– Digital media / e-Commerce companies
with $5 – $50 million revenue/25% – 100%+ growth, high gross margins and low capital expenditures, bootstrapped or minimal prior funding.
They usually receive minority or majority investments in the range of $10m – $25m.
The firm’s previous fund, Updata Partners V, raised $280m in June 2016.
FinSMEs
16/10/2018