– BharCap Partners, LLC announced the final closing of its second fund, BharCap Partners Fund II, LP.
– Fund II was oversubscribed, securing $652 million in equity capital commitments—30% above its $500 million target.
– BharCap has raised over $1.1 billion in committed equity capital through Fund II and affiliated co-investment vehicles.
– The firm is focused on asset-light, middle-market financial services companies.
– Founding partners include Bharath Srikrishnan, Ethan Wang, Jim Rutherfurd, Kevin Becker, and Ryan Gean.
– The team consists of 27 professionals and operating advisors.
– Investment focus areas include wealth and asset management, insurance distribution and services, financial technology and tech-enabled financial services, and tax, accounting, and advisory services.
– Targets companies with recurring revenue, strong profit margins, and high free cash flow conversion.
– Typical investment size ranges from $50 to $300 million in companies with $10 to $50 million EBITDA.
– Emphasizes an “Entrepreneurs Backing Entrepreneurs” approach.
– Leverages deep sector specialization, strategic insight, and operational capabilities.
– Sources deals through longstanding relationships and a proactive outbound calling strategy.
– Approximately 30% of Fund II has been deployed across four portfolio companies in insurance brokerage, insurance services, payment processing, and wealth management.
– Fund II’s investor base includes insurance companies, asset managers, public pension plans, institutional consultants, endowments and foundations, high-net-worth individuals, and family offices across North America, Europe, and Asia.
– Bharath Srikrishnan stated the fundraise reflects the firm’s distinctive approach and strong team.
– Ethan Wang emphasized the firm’s sector expertise and robust proprietary deal pipeline.
– Jim Rutherfurd acknowledged LP support amid a challenging fundraising environment and highlighted the fund’s embedded value.
