Clovis Point Capital Closes $70 Million Software Growth Equity FundJanuary 15, 2020
Clovis Point Capital, a Houston-based growth equity firm that invests in enterprise software and technology-enabled businesses, today announced the close of its $70 million Clovis Point II fund. The closing of Clovis Point II comes on the heels of its successful inaugural fund, Clovis Point I.
Fund II is the first institutional fund for Clovis Point, and the closing marks the successful conclusion of a fundraising effort and reflects strong demand from both new investors and existing investors in Clovis Point I. Clovis Point will continue its focused strategy of investing in software and technology-enabled companies and accelerating growth through proven value creation strategies. Prior to final closing, Clovis Point had successfully completed two new platform investments.
“We are extremely pleased with the response and interest in Clovis Point II,” said Chris Joseph, Managing Partner at Clovis Point Capital. “We are grateful for the trust and confidence that our limited partners have placed in Clovis Point and its ability to partner with companies to drive growth and create value.”
As a leading growth equity investor, Clovis Point seeks to partner with established lower middle-market software and technology-enabled businesses with recurring revenue between $3 million and $15 million. By utilizing its expertise, network and capital, Clovis Point partners with management teams to implement proven growth strategies and navigate the various challenges and opportunities that evolving businesses face. Clovis Point II will invest in minority or majority positions through growth capital, recapitalizations and buyout transactions.
“From the beginning, Clovis Point’s mission has been to drive growth and create enterprise value in the companies we partner with,” said Robert Shuford, Managing Partner at Clovis Point Capital. “With our new fund, we look forward to continuing to collaborate with founders and management teams to help build and scale premier software and technology-enabled companies.”
Vinson & Elkins LLP served as legal counsel in the formation of Clovis Point II.
View the official news release here.