Riverside Acceleration Capital (RAC) Closes RAC Opportunity Fund II, L.P. at $235 Million

More Than Quadruples Growth Equity Investment Capacity to Support Growing Software Businesses

NEW YORK, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The Riverside Company (Riverside), a global private investment firm that has been seeking to fuel transformative growth for business owners and portfolio companies since 1988, has held a successful final closing of its Riverside Acceleration Capital Opportunity Fund II, L.P. (RAC Opportunity Fund II), raising $235 million in capital commitments. With the closing of this fund, RAC has increased its growth equity investment capacity by more than four times.

RAC provides growth equity, growth royalty loans, advice and operating resources, specifically designed to help B2B software companies navigate the transition from their early scale-up phase to their rapid acceleration stage. RAC’s flexible capital, combined with the operating resources of its Growth Advisory Program, has supported more than 65 acceleration-stage software companies in their efforts to systematize growth, seize expansion opportunities, scale internationally and realize their potential.

"We're incredibly excited to announce the closing of RAC Opportunity Fund II, and grateful for the support of our investors," said RAC Managing Partner Jim Toth. "We are passionate about finding and fueling B2B software companies at growth inflection points, and we believe this fund will enable us to pursue that passion at an even greater scale. It furthers our mission of providing both flexible capital and value-added resources to support software innovation and growth."

“We view this successful fund close as a strong statement of our market position and experienced team,” said Riverside Co-CEO Stewart Kohl. “Not just at RAC, but all across Riverside, we are focused on finding and backing B2B SaaS businesses with compelling growth potential. We believe these firms have the ability to change the way we work, make our days more efficient and interesting and improve our ability to collaborate with one another. Riverside is proud of its role in this ecosystem and looks forward to deploying this capital to further support it.”

"RAC embodies Riverside’s strategic commitment to fostering innovation and accelerating growth within the technology sector,” said Riverside Co-CEO Béla Szigethy. “Rather than a financial vehicle, we view it as a robust ecosystem designed to empower software companies at critical growth stages. With our multi-stage growth capital and Growth Advisory Program, we are poised to provide support to entrepreneurs who are working to reshape the way business is done in their clients’ end markets.”

The Riverside Company
The Riverside Company is a global investment firm focused on being one of the leading private capital options for business owners and portfolio companies at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm's international private equity and flexible capital portfolios include more than 140 companies. For more information, visit www.riversidecompany.com.

Riverside Acceleration Capital
Riverside Acceleration Capital (RAC) provides flexible growth capital and operating resources to help acceleration-stage software companies maximize their potential. RAC has supported more than 65 B2B software companies since its founding in 2016 and is part of The Riverside Company. For more information, visit www.riverside.ac.

Holly Mueller
Marketing Consultant
The Riverside Company