The new year has gotten off to a strong start for female founders with the unveiling of two firms, Citation Capital and Coalesce Capital, both of which are expected to raise debut funds.
Indeed, the pedigrees and track records of the founders are such that industry watchers predict both firms could raise several hundred millions dollars each for their inaugural efforts.
“As we kick off 2023, I am humbled and honored to launch Citation Capital alongside my fantastic partners,” wrote Founder and Managing Partner Tiffany Hagge this week on a Linkedin post. Her team has experience investing in consumer, retail, industrials, business services and financial services.
Dallas-based Hagge, who most recently served as a partner at BDT Capital Partners, earlier did stints in the merchant banking division of Goldman Sachs and the private investments division of CPP Investment Board. Co-Founder, President and Chief Operating Officer Lydie Hudson most recently served as CEO of sustainability, research and investment solutions at Credit Suisse, according to her Linkedin profile.
Also choosing a Linkedin post for her firm’s unveiling this week, Stephanie (Staub) Geveda, managing partner at New York City-based Coalesce Capital, wrote that it is “with heartfelt, joy, humility, and tremendous gratitude we announce and celebrate the inauguration of our new firm…”
Geveda most recently served as partner and head of the business services group at Warburg Pincus, where she worked for nearly 13 years. Co-Founding Partner and Head of Value Creation Henry Stannard previously served as partner at OC&C Strategy Consultants. Their new firm plans to invest in business services companies with the potential for accelerated growth. Targeted sub-sectors include infrastructure services; education and training; and residential, commercial and facility services.
The two launches help diversify an industry that remains largely male, particularly on the investment side of firms. Of the 14 employees listed on the Citation Capital Web site, nine are women, including six in investment roles. Three of eight employees listed on the Coalesce Capital Web site are women, including two in investment roles.
Executives at Citation Capital and Coalesce Capital either declined to comment or were not available to comment by press-time.