Riverside Completes Funding for Growth-Lending Fund
The Riverside Company, whose portfolio businesses include consumer brands Tate’s Bake Shop and Sunrise Windows, among others, said on Tuesday it has completed funding for its first growth-lending fund.
The Riverside Company, whose portfolio businesses include consumer brands Tate’s Bake Shop and Sunrise Windows, among others, said on Tuesday it has completed funding for its first growth-lending fund.
The Riverside Acceleration Capital fund, or RAC, has been set up to spark growth in enterprise software companies using non-control investments, Riverside said in a statement.
The fund reached its $50 million fundraising target and has already made several investments, the firm said.
“Software companies are the major disruptors in virtually every industry,” said Riverside Co-CEO Stewart Kohl in the firm’s press release. “As software specialists, Riverside Acceleration Capital recognizes those companies’ complex challenges, and can provide them with a level of capital that can meaningfully impact their growth. RAC allows them to focus on building their businesses, rather than worry about their financing needs.”
