Latest news with #FundII
Yahoo
5 days ago
- Business
- Yahoo
Building on Success of Trailblazing Fund I, GoalVest Completes First Close of its Venture Growth Fund II on Path to $50 Million Target
GoalVest's Hedge-Fund style, LP-friendly approach to VC historically produces top decile returns with 40% net IRR highlighted by recent CoreWeave IPO New York, Aug. 13, 2025 (GLOBE NEWSWIRE) -- GoalVest Venture Capital, a division of GoalVest Advisory LLC, collectively ('GoalVest'), a female-founded boutique RIA and venture capital firm, today announced the first close of GoalVest Venture Growth Fund II ('Fund II'), targeting a $50 million raise. The successful first close demonstrates significant investor enthusiasm for GoalVest's forward-thinking approach to growth-stage venture capital with approximately 60 Limited Partners ('LPs'). The initial close of Fund II comes amid strong performance of GoalVest's first fund ('Fund I'), which recently saw the IPO of CoreWeave, a leading AI infrastructure company. Since its IPO in late March of 2025, CoreWeave's value has increased approximately 2.5x. Fund I also ranks within the top decile globally for IRR in its vintage class, according to Pitchbook's 4Q24 benchmarks. As of second quarter 2025, Fund I boasts a net IRR of 40% since inception in April 2022, significantly outperforming the Forge Private Market Index (FPMI), which declined by ~30% over the same period. 'CoreWeave's IPO marks just the beginning of value realization in our portfolio with many other notable names like Anduril and OLIPOP on the cusp of exiting,' said Sevasti Balafas, Founder and CEO of GoalVest Advisory. 'We're proud to achieve this important fundraising milestone, especially given the challenging fundraising environment. The performance of Fund I has validated our thesis, and Fund II will continue to amplify the reach of our unique approach.' Reinventing Venture Capital to Better Serve LPs GoalVest launched its growth-stage venture platform in response to the hype-driven market of 2020–2021, recognizing that traditional venture models were no longer meeting the needs of LPs in the current environment. 'We listened to our LPs and built the fund they asked for — faster distributions, lower fees, and more co-investments,' said Blair Cohen, Managing Partner of GoalVest Venture Capital. 'This is how the next wave of venture capital will look.' GoalVest has reimagined the venture model from top to bottom: Multi-Channel Deal Sourcing: Leveraging secondary markets – an emerging channel to access a wider company universe and attain best pricing – alongside traditional primary funding rounds Fundamentals First Philosophy: Prioritizing bottom-up fundamental analysis and profitability over typical VC playbook of hype and trend following Multi-Sector Diversification: Mitigating risk by investing in a broader set of sectors including defensive sectors such as Consumer and Industrials to reach beyond Tech LP-friendly Structure: Offering investors shorter fund cycles, faster distributions, lower fees, and more co-investments 'We're taking a grounded approach to venture capital -- viewing ourselves as stock pickers ignoring hype,' said Cohen. 'Unlike traditional VCs, we employ a rigorous hedge fund-style approach to trade execution, diligence, and portfolio construction. We aren't constrained by traditional sourcing methods or a narrow vertical focus but build a highly diversified basket of companies sourced at the best price.' Fund II will continue to raise capital, with limited remaining capacity, and deploy across growth-stage venture capital over the coming quarters. For access to the dataroom or to learn more about co-investment opportunities, contact Blair Cohen at Blair@ or visit About GoalVest Venture Capital & GoalVest Advisory LLCGoalVest Venture Capital, a division of GoalVest Advisory LLC, an SEC-registered investment advisor managing over $650 million in AUM, leverages a disciplined, hedge fund-style approach to identify and invest in promising venture capital opportunities. Led by experienced investor Blair Cohen, GoalVest focuses on fundamentally strong growth-stage investments across Technology, Consumer, and Industrials. Fund I's diverse, high-conviction portfolio includes leading companies such as CoreWeave, Insomnia Cookies, and Plaid, sourced through both primary and secondary market channels. # # # Important Disclosures: This document does not constitute an offer to sell or a solicitation or recommendation to buy interests in either fund, or any fund managed by GoalVest Advisory LLC ('GoalVest' ) or any other securities, financial products or services. Please refer to GoalVest Advisory LLC's ('GoalVest') Form ADV Part 2A for a more complete description of GoalVest's business and practices, and material risk disclosures concerning GoalVest's investment strategies. GoalVest Pre-IPO Venture Growth Fund I ('Fund I') is a privately offered fund that closed in 2022 and is no longer being offered to new investors. GoalVest Venture Growth Fund II ('Fund II') is the new fund being offered by GoalVest. The investments selected and shown for Fund I do not include all of the companies invested in by Fund I. For a complete list of investments invested in, and their performance, please contact Blair Cohen (blair@ Not all of Fund I's investment have been included, and the investments shown are included as an illustration only, and not all investments made have enjoyed the same performance. Performance results presented for each position presented are extracted from Fund I's portfolio, are presented by calculating the gross performance, and reducing the gross performance so it is net of estimated fees and expenses of Fund I, and reflect the reinvestment of all dividends, if any. The performance of Fund I presented is shown net of all fees and expenses of Fund I. Extracted performance of investments in Fund I presented also reflects the deduction of fees and expenses of Fund I. Fund I's advisory fees for GoalVest are generally equal to 1.5.% per annum, plus a performance fee of 15%. It should not be assumed that investments made in the future will be profitable or will equal the performance of the securities noted. Further, there is no guarantee that any of the companies in which Fund I invested will have equity available for investment in by Fund II. Therefore, an investors' exposure to venture capital investments will be different, and the performance of Fund II will not be the same as that which was enjoyed by investors in Fund I. Past performance is no guarantee of future returns. Investments in Fund II involve substantial risks including potential loss of principal. Please see the Fund II Confidential Private Placement Memorandum for a more complete description of risks. To request access to Fund II's confidential offering documents, contact Blair Cohen (blair@ Returns for any period may be attributable to certain market conditions, fund size, and timing of transaction, which may not be repeated. Diversification does not assure a profit or protect against loss in a declining market. Past performance is no guarantee of future results. Actual results may vary. Indices are unmanaged and investors cannot directly invest in them. They are often not subject to the expenses and fees like the funds are and are often comprised of securities or other investments that differ from that of the Funds. For these and a variety of other reasons, the index may not be an appropriate comparison or benchmark for the funds shown herein. Statements in this material are stated as of the dates specified herein. No representation or warranty (express or implied) is made or can be given with respect to the accuracy or completeness of the information in this material. No representation is made that the performance presented will be achieved as a result of implementing investments substantially identical or similar to those described herein or that every assumption made in achieving, calculating, or presenting the historical performance information has been considered or stated. Any changes to assumptions could have a material impact on the investment returns that are presented by way of example. The investments mentioned may not be appropriate for all clients. Any product discussed herein may be purchased only after a client has carefully reviewed the offering memorandum and executed the subscription documents. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum, and make a determination based upon their own particular circumstances, that the investment is consistent with their investment objectives and risk tolerance. Alternative investments often are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. Alternative investments are appropriate only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be highly illiquid and can engage in leverage and other speculative practices that may increase the volatility and risk of loss. Alternative Investments typically have higher fees than traditional investments. Investors should carefully review and consider potential risks before investing. Certain of these risks may include but are not limited to: loss of all or a substantial portion of the investment due to leveraging, short-selling, or other speculative practices, lack of liquidity in that there may be no secondary market for a fund, volatility of returns, restrictions on transferring interests in a fund, potential lack of diversification and resulting higher risk due to concentration of trading authority when a single advisor is utilized, absence of information regarding valuations and pricing, complex tax structures and delays in tax reporting, less regulation and higher fees than mutual funds, risks associated with the operations, personnel, and processes of the manager, and risks associated with cybersecurity. Alternative investments involve complex tax structures, tax inefficient investing, and delays in distributing important tax information. Individual funds have specific risks related to their investment programs that will vary from fund to fund. Clients should consult their own tax and egal advisors. None of the information provided in this document should be considered as impartial investment advice or advice given in a fiduciary capacity. GoalVest has and will recommend investments in the private funds described herein to those of its investment advisory clients for which investment in the funds is suitable. This presents a conflict of interest in that GoalVest or its related persons may receive more compensation from investment in the fund than from other investments. Nevertheless, GoalVest acts in the best interest of the client consistently with its fiduciary duties. Certain information contained herein may constitute forward-looking statements. Due to various risks and uncertainties, actual events, results or the performance of a fund may differ materially from those reflected or contemplated in such forward-looking statements. Information contained in this document is not intended for persons in any jurisdiction where such distribution or use would be contrary to the laws or regulations of that jurisdiction or which would subject GoalVest to any unintended registration requirements. None of the information contained in this document has been filed or will be filed with the U.S. Securities and Exchange Commission, any regulatory under any state securities laws or any other governmental or self-regulatory authority. No governmental authority has passed or will pass on the merits of this offering or the adequacy of this document. Any representation to the contrary is unlawful. CONTACT: For GoalVest Advisory Lisa Aldape, VOCATUS laldape@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-07-2025
- Business
- Yahoo
Lydian Energy lands $233M in financing for 550 MW/1.1 GWh of Texas storage
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. Lydian Energy has secured $233 million in financing for three, two-hour battery storage projects in Texas totaling 550 MW. ING served as the lender for the Pintail and Crane projects in San Patricio and Crane Counties, Texas, respectively, Lydian said July 9. The 200 MW/400 MWh systems represent a combined investment of about $139 million, according to Lydian, a Washington, D.C.-based solar and battery storage developer backed by Excelsior Energy Capital. KeyBank provided a $94 million financing package for Headcamp, a 150 MW/300 MWh project in Pecos County, Lydian said. KeyBanc Capital Markets also structured the financing package for Headcamp. The facilities in the Electric Reliability Council of Texas footprint are under construction and Lydian expects to bring them online in the fourth quarter. The projects were developed under Excelsior Energy Capital's Fund II, which closed at more than $1 billion in April. The tax credit bridge financings from ING and KeyBank are being complemented by co-investment capital from Excelsior's Fund II limited partners, Lydian said. The company said it is pursuing additional financing for other projects that Lydian expects to start building later this year. Lydian's development portfolio includes 20 solar and storage projects totaling 4.7 GW, according to the company. 'These financings represent more than capital – they reflect the strong demand for reliable energy infrastructure in high-growth U.S. markets,' Anne Marie Denman, co-founding partner at Excelsior Energy Capital, said in the press release. The financial commitments by ING and KeyBank underscore growing institutional confidence in battery storage as a strategic asset class, Lydian said. Lydian's three Texas projects are part of a surge in energy storage development in the ERCOT market. ERCOT expects it will have 12,863 MW of storage on its system in September, according to the grid operator's most recent Monthly Outlook for Resource Adequacy report. There is an additional 998 MW of storage that ERCOT expects will be approved for grid synchronization by September. ERCOT had about 10,000 MW of storage capacity on its system by the end of last year, up from about 4,650 MW in 2023. Recommended Reading Excelsior Energy Capital to install 2.2 GWh of Fluence Energy batteries Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
09-07-2025
- Business
- Business Wire
Lydian Energy Secures $233M in Project Financing to Advance Battery Storage Projects Across Texas
WASHINGTON & HOUSTON--(BUSINESS WIRE)-- Lydian Energy, an independent power producer specializing in the development, construction, and operation of utility-scale solar and battery energy storage projects across North America, today announced the successful financial close of its first institutional project financing totaling $233 million. The financing, backed by ING and KeyBank, supports three battery energy storage system (BESS) projects in Texas' fast-growing ERCOT power market. ING served as the lender for the Pintail and Crane projects, located in San Patricio and Crane Counties, Texas, respectively. The two systems, each sized at 200 MW/400 MWh, represent a combined investment of approximately $139 million. KeyBank provided a $94 million financing package for Headcamp, a 150 MW/300 MWh project in Pecos County. KeyBanc Capital Markets also structured the financing package for Headcamp. All three projects are developed under Excelsior Energy Capital's Fund II, which recently closed at more than $1 billion, and advance Lydian's strategy to deliver reliable, affordable renewable energy that strengthens grid performance in key power markets, such as Texas. The facilities are currently under construction and expected to be placed in service in Q4 2025. 'This financing marks an important step forward as we continue executing on our vision to scale transformative battery storage projects that meet the evolving energy needs of the communities we serve,' said Emre Ersenkal, CEO at Lydian Energy. 'We are happy to have the support of ING and KeyBank, which recognize both the value of battery storage in today's grid and the capabilities of our development and delivery platform. We are proud to partner with these leading financial institutions to help deliver the next generation of clean and reliable power in Texas,' said Basilio Guerrero, CFO at Lydian Energy. The commitments of ING and KeyBank underscore growing institutional confidence in battery storage as a strategic asset class leading the energy transition. 'Our support of Lydian's portfolio reflects ING's focus on identifying strategic funding opportunities that align with the accelerating demand for sustainable power,' said Sven Wellock, Managing Director and Head of Energy – Renewables & Power at ING. 'Battery storage plays a central role in supporting grid resilience, and we're pleased to back a platform with strong fundamentals and a clear execution path.' 'Lydian Energy's development of Headcamp reflects the type of forward-looking energy infrastructure we aim to support through strategic financing,' said Tyler Nielsen, Managing Director, Utilities Power and Renewables Group at KeyBanc Capital Markets. 'Our team is thrilled to support Excelsior Energy Capital as they continue to deliver strategic, future-ready investments and projects that are increasingly vital as energy demand and system complexity continue to rise.' The tax credit bridge financings from ING and KeyBank are being complemented by co-investment capital from Excelsior's Fund II limited partners. Lydian is actively pursuing additional financing for a broader pipeline of projects expected to start construction later this year. 'These financings represent more than capital – they reflect the strong demand for reliable energy infrastructure in high-growth U.S. markets,' said Anne Marie Denman, Co-Founding Partner at Excelsior Energy Capital and Chair of the Board at Lydian Energy. 'We're proud to stand behind Lydian's talented team as they deliver on the promise of battery storage with bankable projects, proven partners, and disciplined execution. In the midst of a lot of noise, these financings are a reminder that capital flows where infrastructure is satisfying fundamental needs of our society – in this case, the need for reliable, sustainable, domestic, and affordable energy.' Lydian's current portfolio includes 20 solar and storage projects totaling 4.7 GW of capacity. The company continues to work alongside banking, regulatory, and community stakeholders to deliver scalable infrastructure aligned with regional needs and policy objectives. About Lydian Energy Lydian Energy, based in Washington, D.C., is an independent power producer specializing in the development, construction, and operation of utility-scale solar and battery energy storage projects. With the backing of Excelsior Energy Capital, Lydian's experienced team of renewable energy professionals focuses on developing high-potential mid- to late-stage renewable energy assets across North America. For more information, please visit Follow Lydian Energy on LinkedIn. About Excelsior Energy Capital Excelsior Energy Capital is a renewable energy infrastructure fund focused on middle-market investments in wind, solar and battery storage plants, and businesses across North America. The highly specialized team brings over 100 years of combined experience and a comprehensive set of strategic, financial, legal and operational expertise; making Excelsior Energy Capital a valuable partner for developers and operators, and a trusted manager for investors. Based in Minneapolis, Minnesota, the firm was founded in 2017 with two active funds totaling over $1.5 billion of equity capital. For more information, visit
Yahoo
08-07-2025
- Automotive
- Yahoo
Why this LA-based VC firm was an early investor in Slate Auto
Slate Auto, which came out of stealth mode earlier this year with a surprising – and surprisingly affordable – customizable electric truck, has raised $700 million to date. But long before the EV startup broke cover, it quietly raised a Series A round of more than $100 million in 2023. And while Jeff Bezos was involved in that round, as TechCrunch originally reported, he was not alone. A regulatory filing submitted to the Securities and Exchange Commission shows as many as 16 investors were involved. Slauson & Co., a Los Angeles venture firm that launched five years ago, is one of the few investors in Slate's Series A to speak publicly about why they backed the company. Slauson & Co. partner Ajay Relan told TechCrunch in an exclusive interview his firm is well aware of the many EV startup bankruptcies that have occurred in recent years, as well as the headwinds coming from the Trump administration for anything green energy-related. Regardless, Relan said he and his partner Austin Clements believe in the startup's mission of providing 'more affordable, reliable, and customizable vehicles that are domestically manufactured.' Relan and Clements started Slauson & Co. in 2020. Friends since high school, they both grew up off of Slauson Avenue in South Central Los Angeles, which Relan wryly categorized as being 'not necessarily known for its tech and venture capital innovation.' 'But it definitely is a source of cultural capital that gets repackaged and distributed to more developed areas and other parts of the world,' Relan said. Slauson & Co.'s mission is to bridge the gap between those two worlds by funding and empowering people who have 'historically just not had their perspective represented in the innovation economy.' Relan said they got turned on to Slate by Jeff Wilkie, the former Amazon consumer division CEO who co-founded Re:Build Manufacturing, an incubator that Slate spun out of. Wilkie, who Relan has known since before founding Slauson & Co, first introduced them to the secretive project in 2023. Relan admits investing in an EV startup is a bit outside of his firm's 'primary themes.' But the duo was intrigued by Slate's mission to make a more affordable and approachable car. He was sold on the venture after Wilkie introduced Slauson & Co. to the Slate team. Slauson & Co. raises $100M Fund II proving appetite for inclusion persists The startup was still just a few dozen people in early 2023. But those people had decades of experience in the automotive industry. CEO Chris Barman spent more than 20 years at Chrysler, running vehicle line programs, leading the Android Automotive integration, and even collaborating with Waymo. Chairman Rodney Copes and chief financial officer Ryan Green spent years at Harley-Davidson and Rivian. Barman particularly impressed the Slauson & Co. partners. 'She has great vision. She has a great reputation within the company she's worked for before,' Clements said. 'She's no frills, not about the hype. She's really about delivering.' Clements said he and Relan also rely heavily on taste when it comes to early-stage investing. 'Do we think that this is something that resonates with what people are looking for at this point?' he said. 'The idea that there are no affordable cars, particularly for young people, but really for everybody, and just the mismatch between affordability of vehicles and what's available just didn't make sense.' Slate's truck won't hit the market until late 2026, but Relan and Clements already have a little validation that their eye for taste was spot on with Slate: The company passed 100,000 refundable reservations in just two weeks. Of course, it doesn't hurt to be standing alongside some serious financial and industrial firepower. Not only did Bezos invest in that initial funding round, but Slate also courted big money from Los Angeles Dodgers owner Mark Walter as well as VC firm General Catalyst. ('The partners they were able to bring along for the journey before and after us were icing on the cake,' Reman said in an email.) Those backers have helped fill Slate's coffers to the tune of around $700 million, and the company told TechCrunch that it's already started on a Series C funding round. Slauson & Co. also invested in the Series B; the firm declined to share how much it has invested in Slate to date. This combination – the Slate team, the major backers, and the opportunity at the entry level of the car market – left Relan and Clements believing their investment can generate a good return, even in the notoriously low-margin auto business. 'We have to have some deep conviction that this is something that could drive very real returns in the fund,' Clements said, before adding with a laugh: 'You know, we're not just a purely philanthropic organization.'
Yahoo
09-06-2025
- Business
- Yahoo
BharCap Partners Closes Oversubscribed Fund II at $652 Million
Fund II targets management buyouts of asset-light financial services businesses GREENWICH, Conn., June 09, 2025--(BUSINESS WIRE)--BharCap Partners, LLC ("BharCap"), a private equity firm focused on the financial services sector, today announced the final closing of its second fund, BharCap Partners Fund II, LP ("Fund II"). Fund II was oversubscribed with $652 million in equity capital commitments, 30% above its $500 million target. BharCap has raised over $1.1 billion of committed equity capital through Fund II and affiliated co-investment vehicles. BharCap is led by founding partners Bharath Srikrishnan, Ethan Wang, Jim Rutherfurd, Kevin Becker and Ryan Gean. Bharath Srikrishnan, Co-Founder and Managing Partner, said, "First and foremost, I would like to thank everyone who has supported us on this four-year journey. We created BharCap because we believe entrepreneurs in our sector would benefit from a new firm with a distinctive approach. We are highly entrepreneurial professionals who are sector specialists. We have unique operational and strategic capabilities. Our 'Entrepreneurs Backing Entrepreneurs' mantra resonates with management teams. We believe this fundraise demonstrates our differentiated value proposition, the quality and depth of our team and the attractiveness of our sector. With 27 professionals and operating advisors and substantial dry powder, we are well positioned to identify and support outstanding management teams." The fund's closing marks a pivotal moment as BharCap continues to source unique investment opportunities which leverage the firm's longstanding relationships with entrepreneurs. BharCap's Fund II targets management buyouts in asset-light middle-market financial services companies. Our focused sub-sectors include wealth and asset management, insurance distribution and insurance services, financial technology and tech-enabled financial services, and tax, accounting and advisory services. BharCap focuses on companies with recurring revenue, strong profit margins and high free cash flow conversion that we can scale. We seek to invest alongside management teams to capitalize on powerful long-term growth trends, sub-consolidation opportunities in highly fragmented markets and the impact of technological advancement. Fund II and its LP co-investment vehicles typically invest $50 to $300 million in North American companies with EBITDA of $10 to $50 million. Ethan Wang, Co-Founder and Partner, said, "With our entrepreneur-centric approach and deep sector expertise, we provide the tools that financial services companies need to succeed. We have a robust pipeline of proprietary investment opportunities sourced by our proactive, outbound calling effort. We are excited to originate new investment opportunities, drive continued success for our portfolio companies and create significant value for our limited partners and management teams." Fund II's investors are a diverse group of limited partners from North America, Europe and Asia, including insurance companies, asset managers, public pension plans, institutional consultants, endowments and foundations, high-net-worth individuals and family offices. Jim Rutherfurd, Co-Founder, Partner and Head of Investor Relations, said, "We are grateful for and honored by the support from our limited partners, particularly considering the impact of economic and geopolitical uncertainty on the fundraising environment. Our LP base includes some of the most prominent and well-regarded fund investors. Fund II has significant embedded value, and we are highly focused on extending our track record of outstanding asset light financial services investments." Fund II has invested approximately 30% of the Fund in four portfolio companies in the insurance brokerage, insurance services, payment processing and wealth management sectors. For further inquiries or partnership opportunities, please contact Jim Rutherfurd at jim@ Rede Partners served as placement agent and Kirkland & Ellis served as fund formation legal counsel to BharCap Fund II. About BharCap Partners:BharCap Partners, LLC invests in businesses across the financial services industry including wealth and asset management, insurance distribution and insurance services, financial technology and tech-enabled financial services, and tax, accounting and advisory services. BharCap manages over $2 billion of capital. For more information, please visit View source version on Contacts Media Contacts:Delia Cannan / Pamela GreeneReevemark212-433-4600BharCapPartnersTeam@ Sign in to access your portfolio
