Tritium Partners Closes Third Private Equity Fund at $684M

Lower middle market growth-focused private equity firm Tritium Partners closed its third fund – Tritium III – with $684 million, surpassing the firm’s second fund from 2019 by nearly 50%.

The Austin, TX-based firm, which manages nearly $1.5 billion in assets, has made three investments from the fund, which targets growing tech-related companies, among others.

Founded in 2013 and led by Managing Partners Matt Bowman, Philip Siegel, and David Lack, the fund’s investors include leading retirement systems, private pension plans, university endowments, foundations, diversified financial institutions and insurance companies.

“Since closing our last fund, we have delivered substantial liquidity to our investors, grown our team and added several companies with exceptional potential to our portfolio,” said Lack.

The firm’s investments will remain predominantly focused on internet marketplaces, supply chain and logistics, fintech and financial services, software, data and analytics.

Weil, Gotshal & Manges LLP acted as legal counsel.