Riverside Co. Surpasses Expectations with $235M Close for RAC Fund II

The Riverside Co., has achieved a milestone with the final close of its second Riverside Acceleration Capital (RAC) fund, geared towards high-growth software companies. The firm proudly announced the closure of its RAC Opportunity Fund II L.P., securing an impressive $235 million in capital commitments.

This achievement marks a significant leap from its inaugural fund, which hit its $50 million target back in 2016. The RAC fund strategy remains focused on targeted investments in rapidly expanding software enterprises, with a keen eye on North American companies boasting EBITDA ranging from $10 million to $35 million.

This successful fundraising round not only underscores Riverside's prowess in identifying and nurturing promising tech ventures but also highlights investor confidence in the firm's ability to generate lucrative returns in the software sector. With a substantial war chest at its disposal, Riverside is poised to fuel the growth trajectories of the next generation of software innovators.