Activant Capital closes third fund with $257m in commitments

Activant Capital, the growth equity fund manager, has announced the final close of its third fund with commitments of $257m to invest in commerce infrastructure technology. Fund III exceeded its $250m target and represents a 100% increase in size over the firm's previous fund.

Activant invests in platforms that help businesses across a broad range of industries make, move and sell their products more efficiently.

The fund received strong support from existing investors and a diverse range of new investors, which included 11 new LPs. The final close of Fund III brings Activant's total assets under management to over $500m on behalf of high quality institutions including major universities, endowments and charitable foundations.

Recent investments include Better, a full-stack mortgage technology company and the fastest-growing mortgage provider in the US; Bolt, an end-to-end checkout platform enabling one-click checkout for retailers; Deliverr, an asset-light AI-powered fulfilment network enabling 2-Day and 1-Day fulfilment for merchants across channels; and Finix, a payments infrastructure platform allowing technology companies to own and monetise their payments stack. Among the firm's exits include Hybris, which sold to SAP for $1.4 billion, Upland Software which went public, and Celect which sold to Nike in 2019.

We're delighted to have acted as fundraising advisor for this fundraise.