According to an SEC filing, Cincinnati's SaaS Capital has begun the process of raising its third flagship fund of $75 million, Cruchbase News reports. Should the investment firm reach its goal, this will be its largest fund to date, having raised $22.5 million in 2012 and $58 million in 2015.
Dubbed “SaaS Capital Fund III, LP,” the fund's minimum subscription is $350,000 from prospective limited partners, although it hasn't received any such commitments yet.
As the Crunchbase report indicates, "SaaS Capital has led and participated in a number of venture capital rounds, but the firm specializes in what the website describes as 'committed credit facilities' that are tailored 'to fund the growth of a SaaS business in lieu of a round of equity.'"
Founded in 2007, SaaS Capital offers alternative growth financing for software-as-a-service companies, with investments in 47 companies and $475 million of created equity value. Portfolio companies include Seattle-based LiquidPlanner, Pleasanton, Calif.-based ThinkHR and Boston-based ClearCompay.
Saas Capital representatives couldn’t immediately be reached for comment.
