The Riverside Company boosts B2B software, tech growth arm with new partner, associate

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Lower mid-market private equity specialist The Riverside Company has bolstered its B2B software and tech growth investment arm with the hire of a new partner and an associate.

Christian Stein, who becomes a partner at Riverside, and Michael Aring will be responsible for sourcing investments, executing transactions and working with portfolio companies to further expand Riverside Acceleration Capital’s presence in Europe.

Stein, pictured, has been investing in expansion-stage software and technology companies since 2007.

In 2015 he started and then built a €275m software and tech investment fund, Coparion, which he co-led as managing director.

Aring comes to Riverside from the same firm, where he was working as a venture capitalist.

Riverside managing partner Jim Toth said, “We could not have found a more perfect leader for this effort than Christian, given his extensive investing experience and deep network in the region.

“He has also seen firsthand the wide gap in the market that RAC is addressing. Michael impressed us with his extensive knowledge of technology and software as well as his vision for how we can continue to grow across Europe.”

Riverside partner Jonathan Drillings added, “Over the past few years, we’ve spent an increasing amount of our time in the European tech ecosystem, and we’ve invested in several companies in the UK and on the European continent.

“We saw two things: first, that there are a huge number of outstanding software companies in Europe, and second, that there was a lack of alternative funding options for those companies.

“We couldn’t be more excited to further our expansion in the region and to potentially work with an even broader base of companies now that we have a team so centrally located in the region.”

Last week The Riverside Company sealed the listing of oil and gas, maritime and construction-focused HR and training specialist Mintra Group.

Mintra raised about NOK900m ($97m) through allocation of new shares and a secondary sale on the Merkur Market of the Oslo Stock Exchange.

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