Wednesday, November 15, 2017
Arrowroot Capital Raises $177M Fund For Software Investments
Santa Monica-based Arrowroot Capital Management announced today that it has raised a $177M, third fund, Arrowroot Capital II, L.P., to invest in growth equity for enterprise software companies. According to the firm, led by founder and managing partner Matthew Safaii, it is focused on growth capital for healthy, recurring revenue enterprise software companies in the lower-middle market. The company says it makes investments of between $5 million to $25 million in companies, and is looking to fill the "funding gap" between early stage venture capital and larger traditional growth equity firms looking to make larger investments. Arrowroot Capital said the fund was oversubscribed. Arrowroot Capital's new fund is in a long, and growing, list of venture capital funds with new funds recently announced in Southern California.