Trive Capital Closes its Second Fund at $500 million

September 29, 2016

Trive Capital has announced the closing of Trive Capital Fund II LP, which raised $500 million.

The Dallas investment firm hit its hard cap of half a billion dollars in just three months and exceeded its initial $400 million goal. The funding was garnered from around 30 investors, Trive’s managing partner Conner Searcy told the Dallas Business Journal.

With the new funding, Trive plans to continue the same type of investing as with its first fund, which raised $300 million. Trive generally invests in companies with revenues between $30 million and $500 million and makes investments between $10 million and $75 million.

Trive’s portfolio includes a variety of middle market companies in an array of industries, from aerosol and pump spray product manufacturer Precise Packaging to drone company Merlin RAMCo LLC.

“We always have our sectors that we’re seeing more activity in or spend more time in for whatever reason,” Searcy said. “But in general we say we’re industry agnostic.”

Searcy said Trive will continue to invest money out of its first fund for the next three to six months. The company has not yet identified any businesses it may bankroll with Fund II, but plans to start investing the $500 million in first quarter 2016.

“We actually deployed our first fund in two years, and we’d like four to five years of dry powder,” Searcy added.