Wednesday, November 18, 2015

Tritium Partners, Led By Austin Ventures' Veterans, Raises $309M Fund

Austin-based Tritium Partners, a new private equity firm which says it focuses on buyouts of growth companies in the lower middle market, said it has raised $309M in the final close of its inagural fund, Tritium I, L.P.. The company said investors in its first fund include retirement systems, private pension plans, university endowments, foundations, diversified financial institutions and insurance companies. The names of those limited partners were not announced. Tritium said it is specifically targeting Internet and information services, supply chain and logistics, and financial and business services with its fund. Tritium is led by Philip Siegel and David Lack, both of who spent years at Austin Ventures focusing on that firm's Growth Equity efforts.