NEWS & VIEWS

Global private equity and venture capital news and research

Chicago Growth Partners cancels third fundraise

22 May 2014

chicago illinois_sqVenture capital firm Chicago Growth Partners (CGP) has reportedly stopped raising its third fund.

The firm said in a memo sent to LPs that it plans to invest capital in small growth companies “under a new structural arrangement that we feel is more appropriate for our business going forward,” according to PeHUB.

“After much consideration, we have decided to discontinue our fundraising efforts for CGP III and embark on a different path,” said CGP.

“Our partners are not done investing. Rather, after CGP III is fully deployed, we simply plan to invest capital in small growth companies under a new structural arrangement that we feel is more appropriate for our business going forward.”

Last year it was reported that CGP was looking to raise between $400m and $500m for the new fund.

Last month CGP and trident Capital co-led a $60m investment round for payments-as-a-service startup 2Checkout.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014