Growth equity firm Alpha Partners closes oversubscribed $153m third fund

Alpha Partners, a growth equity firm that invests in top-tier growth equity rounds, announced the final close of its oversubscribed third fund, Alpha Partners Fund III (Fund III) with $153 million in commitment.

Alpha will continue the mission it pioneered in 2013, of investing in the best growth stage opportunities by partnering with over 1,000 early-stage venture firms who have insider access to their own top-returning portfolio companies. These early-stage funds often have the access to the best opportunities, but 5-10 years after their initial seed or early stage investment, lack existing fund capital to fund these companies' de-risked later rounds. Alpha estimates that the size of this emerging investment opportunity amounts to tens of billions annually.

Alpha Fund III investors include returning investors and a diverse group of new backers, including prominent U.S. and international institutions, family offices, and registered investment advisors. This interest has propelled Alpha Fund III to become nearly three times larger than its previous fund, growing their assets under management to over $300 million.

Steve Brotman, Managing Partner, Alpha Partners: "We are grateful that nearly all of our limited partners renewed their commitment with us. We're excited to add a number of institutions from around the world as new limited partners."

With Fund III, Alpha Partners will continue to focus on the proven investment strategy that it pioneered in 2013. Alpha helps early-stage investment firms access fresh reserve capital to maximize their ownership in their best-performing companies. Alpha's collaborative approach enables it to invest with little competition into companies that attract over-subscribed rounds from the world's best investment firms.

Recent investments include Pearl, an FDA approved AI platform that allows dental professionals to review dental x-rays more efficiently; Second Front, a software company that enables commercial software vendors to sell their products to the US government in a secure, cost-effective, and rapid manner; Shield AI, a developer of autonomous drone systems and AI piloting software; Rad AI, an AI platform for radiologists that streamlines their workflows; and Chainguard, a software supply chain cybersecurity firm that's protecting the integrity of open source code.

Alpha's portfolio company exits by IPO include Coupang, Coursera, Rover, Udemy, Vroom, and Wish, as well as exits by acquisitions including HPE's acquisition of Cloud Technology Partners and by Uber's acquisition of Careem. 

www.alphapartners.com

Would you like to be featured on Startup Weekly for a free profile interview? Fill in this questionnaire here.

You can also send your columns / opinions / thought leadership pieces / industry insights, survey and reports to info@startup-weekly.com.