Riverside closes new $50 million fund lending to high-growth software companies

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.

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