Elsewhere Partners Closes Oversubscribed $285 Million Fund III

Seasoned Investors Take New Approach to Private Equity to Drive Software Innovation Success Stories

AUSTIN, Texas, June 25, 2024 /PRNewswire/ -- Elsewhere Partners today announced the closing of Elsewhere Partners III, L.P. (EP Fund III), with $285 million in additional capital focused on majority investments in growth-ready B2B software companies. Because of Elsewhere Partners' distinct investment model and strong performance, an Ivy League Endowment and several returning and new prominent institutional investors backed EP Fund III.

Since its launch in 2016 by seasoned Austin Ventures alumni Chris Pacitti and John Thornton, Elsewhere Partners has sought to redefine software investment strategies and unlock the full potential of capital-efficient software companies with proven products constrained by suboptimized go-to-market practices. With decades of experience leading early stage investments and navigating transformational investments in capital-efficient software companies together since founding Elsewhere through its first and second funds, the evolution of the firm into an early stage private equity (PE) firm has been a natural progression.

"Over the years, our vision to become a reliable feeder system for later-stage financial sponsors has crystalized due to the success of our early portfolio," noted Chris Pacitti, Founder and Partner at Elsewhere Partners. "We found a gap in the VC/PE ecosystem and have developed a low-risk/high-reward investment model and transformational playbook to become the 'Series A' private equity investor for B2B software companies. With the support of our new and existing limited partners, we look forward to continuing to fuel strategic growth in the software sector in both U.S. and international markets."

With EP Fund III, Elsewhere Partners will further sharpen its focus on majority $20 million to $50 million investments in growth-ready software companies led by strong technical founders that have scaled to $3 – 12M in revenue. The firm's dedicated Operating Partners and extensive Operating Advisor network provide the deep bench of seasoned operational leadership and functional support required to scale effectively.

About Elsewhere Partners
Elsewhere Partners, a tech-focused private equity firm, invests in growth-ready lower middle market software companies around the globe. Elsewhere's team of experienced investors and software operators tailor growth plans for each unique portfolio company and offer complementary support across go-to-market, product, talent, finance, and strategy functions. Based in Austin, TX, Elsewhere has invested in 17 companies throughout North America, Europe and Israel since its inception in 2016. To learn more, visit https://elsewhere.partners.  

Media Contact:
Erica Camilo
Connexa Communications for Elsewhere Partners
C: 610.639.5644
[email protected] 

SOURCE Elsewhere Partners