Page 6 - Capital Commitments News Today

Revenue and Net Income Surge as Company Expands Portfolio

Niremia Collective, a Silicon Valley–based venture capital firm, is tapping into that — and the gender disparity in VC — with its first fund of $22.5 million in capital commitments. Niremia Collective is the latest women-led debut fund, joining others like New Fare Partners and Curate Capital, Pact, Double Down and f7 Ventures. Founders Naoko Okumoto and Nichol Bradford met in 2018 and worked on various projects before coming together as investors to support startups at th...

Pre-seed and seed companies have a new bucket of capital to go after today. Taylor Greene and Byron Ling started Twelve Below in 2021 after previous careers at Collaborative Fund and Lerer Hippeau for Greene, and Canaan and Primary Venture Partners for Ling. Greene and Ling told TechCrunch their philosophy is reminiscent of the “old ways of venture capital.”

After five years sharpening his technology investor skills at Susquehanna Growth Equity, Shalin Mehta is now a solo general partner at his own growth equity firm, securing $85 million in capital commitments for his debut fund. Now with SEVA, a firm he started earlier this year, Mehta intends to invest in customer-centric founders of fast-growing, bootstrapped companies to scale via profitable growth, he told TechCrunch.

Brookfield Asset Management announced the closing of its global infrastructure debt program, Brookfield Infrastructure Debt Fund III (BID III).

King Street Capital Management announced the final close of its Global Drawdown Fund II with $2.3 billion of capital commitments, exceeding its $2 billion target.

Pittsburgh-based PNC Financial Services Group Inc. (NYSE:PNC) announced the cash transaction on Tuesday and said the transaction closed on Monday.

"PNC has long participated in the capital commitments business and the acquired portfolio is highly complementary," the bank said in a statement. The popularity of the credit vehicles has soared over the past decade among PE and private real-estate investment firms. The transaction, to be funded with cash on hand, is expected to immediately add to PNC's earnings, and will represent about 10 cents per share in the fourth quarter of 2023, PNC Bank said.

H.I.G. Capital closed its H.I.G. Middle Market LBO Fund IV with $5.5 billion in aggregate capital commitments, in addition to co-investment separately managed accounts of $450 million

At a time when securing venture capital funds is not especially easy, Lighter Capital continues to provide non-dilutive funding, in the way of revenue-based financing, to technology startups. The firm, led by Melissa Widner, CEO, was founded in 2010 and has since provided hundreds of millions dollars in financing via more than 1,100 rounds of growth capital without startups having to sell equity. Lighter Capital designed its revenue-based financing model for tech companies in the SaaS, technol...