Aldrich Capital Partners is primed to hit its fundraising goal for its first buyout fund after registering $246m for the vehicle.
The fund is eyeing up to $250m and has received commitments from at least 57 limited partners according to documents submitted to the US SEC filing.
Aldrich was launched in 2014 by former Goldman Sachs managing director Raheel Zia and ex-AOL exec and Mirza Baig.
The firm is focused on companies with over $10m worth of revenue in the FinTech, business services, software & cloud-services, and healthcare IT sectors.
North Sea Securities is acting as a placement agent for the fund in various of US states.
Earlier in the year, Aldrich made a $26m growth investment into payment provider Paymerang, to support its growth organically and through acquisitions. The company is an electronic supplier payment processor, automating accounts payable and accounts receivable tasks.
Another FinTech company in its portfolio is iPAD POS system for restaurants Lavu. The company enables eateries to access orders, process payments, resource management, and reports.
Last week, August Capital raised $250m for its latest fund which is $200m less than its predecessor vehicle closed on. The Foundry Group also closed its latest vehicle last week, bagging $750m for its seventh fund.
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