Luminate sets sights on $425m for its sophomore vehicle, a year after closing debut

Luminate Capital Partners is aiming to raise up to $425m for its sophomore fund, just a year after closing its oversubscribed debut vehicle.

The buyout firm, which is led by former Silver Lake managing director Hollie Haynes, pulled in more than $265m for its first fund last summer to focus on deals in the software and software-enabled services sectors.

But the firm is already back eyeing a significant boost to that capital according to a filing it lodged with the US securities regulator.

Moelis & Company has been listed as placement agent for the fund according to the filing, which does not show any registered capital commitments to date.

The firm invests in industries it knows it can add value which include vertical applications, SaaS, back office and supply chain, marketing automation, e-commerce, data and analytics and software-enabled services.

The firm has invested into a number of FinTech solutions over the years, with it recently supplying an undisclosed investment to supply chain document automation software builder Conexiom. The company develops automation software for supply chain documents including sales orders, invoices, quotes and special pricing.

Another one of the firm’s portfolio companies is accounting solution AMTdirect, which received a strategic investment from Luminate late last year.

Some of the other FinTechs to feature in its current portfolio are financial services compliance software developer StarCompliance, secure payment solution fintech and automated spending compliance platform Oversight.

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