Pike Street Capital closes $237 million inaugural fund to invest in industrial technology startups and middle market growth buyouts
Pike Street Capital, a Seattle, Washington-based private equity firm, today announced the closing of Pike Street Capital Partners (the “Fund”), a $237 million fund that will focus on control investments in industrial technology businesses. The fund, which was over-subscribed to its original $200 million target, was backed by investors including leading institutional limited partners, such as endowments, insurance companies, fund of funds, and family offices along with strategic operating executives.
Founded by Paul Caragher, Dave Dandel, and Ed Whatley, Pike Street Capital invests in successful industrial technology companies and other sectors that serve demanding technical customers with revenue of $10 million to $100 million. The firm manages a private equity fund focused on growth buyouts in industrial technology in the lower middle market. With a combined 75+ years of investing and operating experience,
“We are pleased with the successful close of the Fund in the currently challenging environment and grateful to welcome a high caliber set of long-term partners,” said Paul Caragher, Co-founder and Managing Partner at Pike Street Capital. “The closing is a testament to our investors’ belief in our operational investing model where we partner with founders, owners, and management teams to implement sustainable growth plans.”
Pike Street seeks investments where Pike Street’s operational focus, business experience, and executive network can assist management to accelerate that growth. The team’s complementary backgrounds give Pike Street a strong combination of entrepreneurial, operational, and transactional expertise.
“We believe growing a business is a process and team sport. Pike Street looks to partner with founders, owners, and management teams to implement successful growth strategies, develop great teams, and create a culture of performance,” said Caragher. “With our unique combination of investment capital, experience in helping growing businesses develop sustainable processes, and network of executives from leading global businesses, we seek to be real assets to our portfolio companies.”
Since launching the fund, Pike Street Capital has completed investments in three companies: US BioTek Laboratories, HeadRush Technologies, and QuickBox Fulfillment. In addition to investing in additional portfolio companies, Pike Street plans to continue expanding its investing and operational team.