Bethesda private equity firm Rotunda Capital Partners has raised over $195 million in funds for its debut institutional private equity fund, the company said in an announcement.
The firm exceeded its original target of $175 million, and will invest the funds in family-owned or founder-owned businesses in the distribution, logistics and industrial and business services sectors. Founded in 2009, Rotunda began as a firm that connected companies to potential funding opportunities, and now manages over $350 million in equity capital.
Its prior — and first fund — was not open to outside investors and consisted of one large university's endowment, the company said.
The company has, since it’s founding, invested in companies such as Reston small business lender StreetShares, produce distributor FreshEdge of Indianapolis, Atlanta-based waste and recycling solutions provider Rubicon Global and Trinity3 Technology, a St. Paul, Minnesota technology provider to K-12 and higher education institutions, among others.
“We are grateful for the strong investor support we received in closing our debut institutional fund above our target in an uncertain market environment,” John Fruehwirth, managing partner of Rotunda Capital Partners, said in a press release.
UBS Securities, LLC advised as exclusive global placement agent on the fund.Kirkland & Ellis LLP served as legal counsel to Rotunda.
But Rotunda was not the only company that has raised money recently. Other notable raises include:
- D.C.-based Socially Determined, which helps health care organizations better understand the health risks of the people they care for, raised an additional $3.15 million in debt in late December, according to Securities and Exchange Commission filings. It also expanded its business model to include the Covid-19 Social Susceptibility Index in April, following more than $11 million it company raised at the beginning of 2020, according to earlier SEC filings.
- ASR Analytics, which provides high-end analytic consulting services, raised nearly $1.3 million in January, according to SEC filings. ASR Principal Peter Arena was previously a manager at IBM Global Services and at PwC Consulting. ASR was founded in 2004.
- Location technology company Radius Networks raised about $5.18 million in a mixture of equity and debt in January, according to SEC filings. The Georgetown company reported raising about $15 million in a Series A round in the summer of 2019 from about 62 investors, including D.C.’s Core Capital.
- Venture capital firm Proof.VC raised $120 million for its second fund — more than triple the Reston firm’s first, as the WBJ reported in December.
