– Rockbridge Growth Equity Management, L.P. (“Rockbridge”) announced the close of RB Equity Fund III, L.P and RB Equity Fund III-A, L.P. (together “Fund III”) at over $360 million.
– The close brings Rockbridge’s total assets under management (AUM) to more than $1.7 billion.
– Fund III exceeded its $350 million target.
– Investment focus: four sectors where Rockbridge has nearly 20 years of experience:
▪️e-Commerce and Marketing Services
▪️Financial Services and Fintech
▪️Tech-Enabled Products and Services
▪️Digital Media
– Investor base for Fund III includes: fund-of-funds, public pensions, insurance companies, consultants, multi-family offices, CEOs, founders, and industry executives.
– Brian Hermelin, Co-founder & Managing Partner: Closing above target validates sector-focused strategy and investment track record; gratitude to long-time and new investors.
– Fund III has already invested in four platform companies:
CheckedUp, AcquireUp Marketing, Vici Media, and FormativGroup
– Kevin Prokop, Co-founder & Managing Partner: Rockbridge builds partnerships with management teams to unlock growth and innovation.
– Founded in 2007, Rockbridge benefits from a strategic relationship with the Rock Family of Companies (including Rocket Mortgage, StockX, Redfin, Cleveland Cavaliers, and 100+ other companies).
– Rockbridge leverages this network for technology and capabilities that add value to portfolio companies.
– Since inception, Rockbridge has deployed $1.3 billion of capital (including co-investor equity).
– Current portfolio: 13 companies.
– Lazard acted as exclusive placement advisor for Fund III; Kirkland & Ellis LLP served as legal counsel.
