Savano Capital Partners Closes Oversubscribed $157 Million Fund III

BALTIMORE, April 12, 2022

Savano Capital Partners, a growth equity firm supporting rapidly-growing, late-stage technology and service companies, has recently announced the closing of its third fund with capital commitments of $157 million. With nearly twice the capital commitments of its previous fund, Fund III takes the firm's AUM to over $300 million.

Many of the firm's existing limited partners participated in the fund, along with several new limited partners including leading asset managers, insurance companies, universities, family offices, and foundations. This fund enables Savano to continue offering creative liquidity solutions to founders, employees, and early investors in addition to growth equity to expansion-stage companies. Avec Capital¹ acted as the placement agent for Fund III.  

"We are grateful to our limited partners, both existing and new, for their strong and continued support. I'm especially proud of our expanded team that has worked hard to serve our portfolio companies and investors. A special thank you to Frank Tower, who we welcomed as a Partner in July of 2020, and was integral to this fundraise. We look forward to building upon our success as we continue to develop creative solutions to help founders and companies address their ever-growing liquidity needs," said Tom Smith, Managing Partner of Savano.

The firm's approach has created win-win-win solutions for shareholders, companies, and the firm's investors for over a decade. The newly raised fund has already invested in 13 companies across multiple software sectors, including cybersecurity, data analytics, fintech, HR tech, and e-commerce. Savano has invested in nearly 50 companies to date with notable active investments including Jobcase, Automattic, Hackerone, Omaze, Bespoke Post, and Sciencelogic and notable realized investments including Aras, Everquote (Nasdaq: EVER), and Clarabridge (acquired by Qualtrics (Nasdaq: XM)).

"Secondary liquidity is increasingly critical for companies and their shareholders, particularly with the longer paths to exit timing that most companies are experiencing," mentioned Savano's COO Matt Good. "Our flexible approach to working with expansion-stage companies and shareholders makes Savano a great partner for those who need creatively-structured liquidity and growth equity solutions."

Savano also announced the addition of two Vice Presidents to its expanding team – Andrew Seter and Julieanna Wiley. Seter brings a wealth of experience in M&A advisory and corporate strategy. Wiley previously led an outsourced back office team for multiple venture capital firms.