Smith Point Capital Closes $360M+ Inaugural Fund
- Editor
- May 1
- 1 min read
Whats Happening:
Smith Point Capital Management, LLC has closed its inaugural fund, Smith Point Capital Fund I, L.P., with over $360 million in commitments, surpassing its $300 million target. The fund focuses on investing in enterprise software companies that deliver mission-critical technologies reshaping business processes, operations, and customer experiences.
Key Moves:
Smith Point Capital closes inaugural fund at over $360 million
Fund exceeds target of $300 million
Fund already holds six portfolio investments totaling $145 million
By The Numbers:
Fund I closed with over $360 million in commitments
Exceeded target of $300 million
$145 million already invested across six portfolio companies
Key Quotes:
"The new intelligent enterprise will be built through experienced partnerships and execution – not just capital," said Keith Block, Founder & CEO of Smith Point Capital.
"Smith Point's experience and networks transcend the traditional funding models of venture capital firms, making them the perfect partner for founders and CEOs," said Michael Amori, Co-founder and CEO of Virtualitics.
"Smith Point Capital has been a transformative partner for AssemblyAI," said Dylan Fox, Founder & CEO of AssemblyAI.
Bottom Line:
Smith Point Capital's successful closing of its inaugural fund above target demonstrates strong market demand for its operator-led investment approach in the enterprise software sector. With $145 million already deployed, the fund is well-positioned to capitalize on opportunities in shaping the intelligent enterprise landscape.
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