Story excerpt provided by Crain’s Cleveland Business.
Written by Jeremy Nobile.
The Riverside Co. has closed fundraising on its first growth lending fund, signaling a new way for the private equity firm to invest in growing businesses.
Riverside Acceleration Capital will focus specifically on fast-growing enterprise software companies. The fund provides loans to those businesses to accelerate their growth in their early years of development with flexible, non-dilutive capital — something the market is apparently quite keen to as the fund closed quickly and even drew some new investors to Riverside.
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Originally published October 4, 2016.