Prolific lower-mid-market investor The Riverside Company seeks a partner to join its Riverside Acceleration Capital team, which provides growth capital to B2B software companies. Here’s more about the position:
The Strategy: The Riverside Acceleration Capital team makes two kinds of investments in B2B software companies. RAC Royalty provides expansion capital in the form of non-dilutive, royalty investments. It backs companies that typically generate at least $2 million in recurring revenue from a software-as-a-service, or SaaS, business model. RAC Equity makes minority, preferred equity investments in larger, fast-growing SaaS companies generating revenue of $5 million to $50 million.
Clearhaven Partners, a software-oriented private equity firm co-founded by Michelle Noon and Kevin Wood, has opened a requisition to add a second associate to its Boston-based team.
By year-end the firm also intends to add a second VP-level deal quarterback, which would bring its payroll to about 10 professionals–including the recent addition of Managing Partner Chris Ryan, a former colleague’s of Noon at Boston-based Riverside Partners. Looking ahead to 2022 or 2023, Noon told PECN, the firm anticipates adding a VP on the value-creation side of the firm.