Carrick Capital Partners has closed its debut fund on $180 million, the firm announced in a statement Tuesday.
Carrick, which is based in San Francisco, will use the fund to invest in a variety of technology-focused sub-sectors, including “technology-enabled service offerings, business process outsourcing, transaction processing, software as a service and enterprise software”, according to a release.
The firm’s investment strategy includes a “distinctive combination of operational and investment expertise to help entrepreneurs and management successfully scale their businesses”, according to a release.
Carrick will invest in companies with revenues between $5 million and $50 million that are EBITDA positive, according to its website.
Former General Atlantic managing director Marc McMorris founded the firm alongside Jim Madden earlier this year. Madden is the former the chief executive of human resources company Exult, which he grew from its inception to $500 million in revenues.
In addition to McMorris and Madden, former Accel-KKR vice president Alex Mason has joined Carrick as a director. Chris Wenner and Blake Morrell, also founding team members, are analysts.