Growth Street Partners Closes $70 Million Debut Fund

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Jun 29, 2017, 09:17 ET

SAN FRANCISCO, June 29, 2017 /PRNewswire/ -- Growth Street Partners, a San Francisco-based early growth capital firm, today announced the closing of its $70 million debut fund. Fundraising officially launched in early January, was quickly oversubscribed, and closed in under four months. Growth Street's investors include leading institutions, family offices, and professional investors, as well as many successful entrepreneurs, CEOs, and founders. Investors in the fund have strong ties to several of Growth Street's target markets, including Baltimore, Cincinnati, Denver, Houston, Kansas City, Memphis, Omaha, Philadelphia, Portland, and San Diego.

Growth Street provides early growth capital to vertically-focused, rapidly growing SaaS and technology-enabled services companies located in underserved U.S. markets. The fund will invest $3-10 million behind founders who lead $1-5 million annual run-rate revenue companies. An investment from Growth Street allows an entrepreneur to accelerate growth without losing control.

The firm is investing heavily in its database and proprietary software to find and cultivate relationships with the best entrepreneurs. "By developing and utilizing proprietary software, Growth Street is able to engage the best entrepreneurs in more meaningful ways. This innovative approach resonates with entrepreneurs and investors alike," said Stephen Wolfe, Co-Founder of Growth Street.

Growth Street seeks to partner with entrepreneurs from industry who previously lived the problem their business is now solving. "We think putting together entrepreneurs from industry with a combination of capital and help is a recipe for long-term success," explained Nathan Grossman, Co-Founder of Growth Street. "Growth Street provides both strategic guidance and execution capacity," he continued.

The firm recently closed its first investment, Pear Deck, a leader in real-time K-12 classroom engagement SaaS. Founded by former K-12 educators, Pear Deck is based in Iowa City, IA.

Growth Street Partners
Growth Street Partners provides early growth capital to vertically-focused, rapidly growing SaaS and technology-enabled services companies located in underserved U.S. markets. The firm partners with founders who lived the problem their business is now solving. Growth Street targets investments of $3-10 million in companies with $1-5 million of annual run-rate revenue. By providing a unique balance of capital and help, Growth Street allows entrepreneurs to accelerate their businesses without losing control. To learn more about Growth Street Partners, please visit www.growthstreetpartners.com.

SOURCE Growth Street Partners