Linse Capital, a San Juan, Puerto Rico-based growth equity firm, raised $700m to back industrial technology companies.
LPs include affiliates of Oppenheimer & Co., Daimler Truck, Taiwan Mobile and a syndicate of more than 400 family offices and high-net-worth individuals.
The capital will be allocated across its flagship fund – Linse Capital Fund I (LCFI) – alongside two co-investment vehicles for portfolio companies Skydio and Verkada.
LCFI will invest in a select group of new companies per year, investing between $100m and $400m in each business. The firm aims to become the largest or one of the largest shareholders at exit.
Investment areas include four sectors: transportation, energy, logistics and real estate
Founded in 2015 by Michael Linse, and also led by Bastiaan Janmaat, Linse Capital has backed:
- ChargePoint (NYSE: CHPT), an electric vehicle charging technology provider.
- Redaptive, an energy-as-a-service provider that funds and installs energy-saving and energy-generating equipment.
- Valens (NYSE: VLN), a provider of semiconductor products enabling resilient high-speed connectivity over simple and low-cost infrastructure.
- Skydio, a U.S. drone manufacturer and world leader in autonomous flight leveraging AI to create intelligent flying machines for use by consumer, enterprise and government customers.
- Verkada, a company that builds physical security solutions that integrate behind a single, cloud-based software platform.
The firm has raised over $1.1 billion since inception.
FinSMEs
19/12/2022