Utah-based growth equity firm Mercato Partners is in the market for its third fund according to regulatory filings.
Mercato Partners Growth III will be seeking $175 million, the largest fund to date for the firm.
Mercato’s first fund closed on $52 million in 2007 during the start of the financial crisis. The firm’s sophomore fund closed on $115 million five years later in 2012.
The firm, which is led by Alan Hall and Greg Warnock has had some high profile exits going into this fundraise including luxury headphone maker Skullcandy.
Last week, the firm invested a $50 million funding round for luxury sock maker, San Clamente-based Stance. Other firms involved in the round include August Capital and Kleiner Perkins Caufield & Byers.
Stance has also seen investments from celebrities like Miami Heat basketball player Dwayne Wade.