Austin's private equity ecosystem is booming, and Strattam Capital is the latest local firm to announce a new fund that could help tech startups find lucrative exits.
Strattam Capital, which has offices in Austin and San Francisco, has closed on its second fund with $230 million. It follows the organization's $109 million fund launched in 2015.
The firm targets software as a service companies with $10 million to $30 million in revenue. With the new fund, Strattam Capital plans to make seven to nine majority equity investments. The deals are expected to range from $20 million to $50 million, according to a press release.
The firm has already made some control investments with its second fund, including deals with Rock Solid Technologies, a government software and IT services company based in Puerto Rico, and Melbourne, Australia-based Acendre, a talent management platform for regulated industries.
Strattam, co-founded by Bob Morse and Adrian Polak, has also backed companies developing enterprise software, digital infrastructure and other IT services. Other prior investments include Blacksmith Applications, Contegix, SSB and Trax Technologies.
