Princeton Equity Group Raises $1.3B for Fund III

Private equity firm Princeton Equity Group, has raised $1.3 billion in the first and final round for its Princeton Equity Partners III, which will go towards investing in franchisor and multi-location businesses. 

The fund, which was oversubscribed in close to two months, was more than twice the size of its predecessor fund, the Princeton Equity Partners II, which raised $575 million in capital almost three years ago. 

Fund III’s capital will continue to be deployed to support founder-led companies. The private equity shop will also use the funds to invest in its GrowthEdge operating group and an AI-powered platform, FusionPoint. 

“For nearly two decades, our team has partnered with high-quality, often founder-led, management teams who care deeply about building market-leading, franchisor and multi-location businesses,” said Jim Waskovich, co-founder and managing partner of Princeton Equity Group. “These companies combine great people, strong unit economics, recession resiliency, and an ability to stand the test of time.” 

Princeton Equity Group has invested in more than 30 businesses, including Barry’s, European Wax Center, Massage Envy, Ellie Mental Health, Amped Fitness, D1 Training, Five Star Franchising, KidStrong, Massage Envy, Pirtek, StretchZone, and Strickland Brothers.

Dallas-based Princeton Equity Group manages roughly $3 billion in assets under management.