Bridge Growth Raises $790M CV for Solace

Bridge Growth Partners, LLC has closed a $790 million single-asset continuation vehicle to support its investment in Solace, reflecting growing investor appetite for infrastructure underpinning enterprise AI adoption.

The transaction was co-led by Apogem Capital, Golub Capital, HSBC Asset Management and Schroders Capital, alongside participation from Bridge Growth Partners III, which made its inaugural investment through the deal.

Following the closing, Bridge Growth will hold more than 15% of Solace’s equity, including general partner and affiliate rollover, while the Healthcare of Ontario Pension Plan will roll its existing minority stake.

“Solace is well-positioned for accelerated expansion as it helps enterprises capitalize on the transformative use of real-time data as a foundation to realize the potential of AI,” said Alok Singh.

The continuation vehicle extends Bridge Growth’s long-standing relationship with Solace, which dates to its initial control investment in 2016. Since launching its first fund in 2014, the firm has invested approximately $1 billion in equity and returned roughly $2 billion to investors.

The transaction also facilitates the wind-down of Bridge Growth Funds I and II

Campbell Lutyens and J.P. Morgan acted as financial advisors and Willkie Farr & Gallagher LLP served as legal advisor to Bridge Growth Partners on the transaction.