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Second Alpha Raises Oversubscribed $170 Million Fund V
New York-based specialist private equity firm focuses on secondary direct investments in growth-stage tech companies
NEW YORK, February 28, 2023-- Second Alpha Partners ("Second Alpha" or the "Firm"), a New York-based private equity firm focused on secondary and secondary-linked investments in mature, growth-stage technology companies, is pleased to announce the closing of the Firm's latest fund, Second Alpha Partners V, L.P. ("Fund V"), with $170 million in limited partner commitments. Fund V was oversubscribed, securing commitments from a diversified set of investors including insurance companies, foundations, multi-strategy funds, multi-family offices, single family offices and industry executives.
Second Alpha was founded in 2012 by Richard Brekka and Jim Sanger who continue to manage the Firm as Managing Partners. Second Alpha's New York-based team is comprised of experienced technology investors and finance professionals with backgrounds at leading financial services firms such as JP Morgan, CIBC, Deutsche Bank, Barclays Bank, Goldman Sachs, Pacific Crest Securities (now part of KeyBanc Capital Markets) and Financial Technology Partners.
Second Alpha Managing Partner and Co-Founder, Richard Brekka, commented, "We are very pleased with the tremendous support from both existing and new investors that have confidence in Second Alpha's strategy."
Second Alpha Managing Partner and Co-Founder, Jim Sanger, added, "While we think our particular approach to making secondary investments has advantages in all market cycles, we believe that it is especially well suited to the unique challenges faced by shareholders and tech companies in the current market."
The Firm employs thematic, data-driven methodologies to identify attractive investments. Then, after acquiring positions in companies, Second Alpha often becomes an active partner with the management teams of those companies in the growth and development of their businesses.
FocusPoint Private Capital Group acted as placement agent to Second Alpha for Fund V and Willkie Farr & Gallagher acted as legal counsel.
ABOUT SECOND ALPHA
Second Alpha is a private equity firm focused on secondary and secondary-linked direct investments in growth-equity stage companies. The need for interim liquidity from founders, executives, angel investors, VCs, and institutional investors has grown substantially over the years as companies have stayed private longer. Second Alpha offers capital solutions that allow shareholders to achieve liquidity before a company sale or IPO. The firm employs a number of data-driven approaches to its sourcing and due-diligence activities. Second Alpha works directly with companies to alleviate shareholder liquidity needs and brings its extensive industry knowledge to support its portfolio companies in achieving their strategic goals.
This press release is not an offer or solicitation of an offer, or an invitation or inducement, to invest in any Second Alpha fund. No person may invest in any Second Alpha fund except in accordance with and subject to the terms of the applicable fund documentation and all applicable laws, and Second Alpha will only respond to prospective investor outreach in accordance with all applicable laws. Past performance is not necessarily indicative of future results.
Managing Partner, Second Alpha Partners
+1 (508) 308-2166
Managing Partner, Second Alpha Partners
+1 (212) 446-1601