Second Alpha Partners, a direct secondaries firm, has raised $75.6 million for its latest dedicated fund.
The New York-headquartered firm, which invests in mature venture, growth equity and mid-market targets in the technology, media and telecoms sectors, has already invested $14.5 million of Second Alpha Partners IV along with an additional $6.5 million in co-investments, according to a statement.
Fund IV has taken positions in advertising technology firm OpenX, software developer Code42 and webcasting firm ON24, among others, the statement noted.
The vehicle had been in the market for around 15 months. The 2013-vintage Fund II raised $6.28 million, according to PEI data. Details of Fund III are unclear.
Second Alpha was founded by Jim Sanger, a former managing director with Deutsche Bank’s venture capital arm, and Richard Brekka, who spent 14 years with Dolphin Equity Partners. Dolphin’s portfolio was acquired by Second Alpha in 2013, becoming the basis for its debut fund Second Alpha Partners I.
In addition to direct secondaries deals, the firm will purchase portfolios or strips of assets, and will back restructurings and recapitalisations, according to its website.
The firm has offices in New York and Boston.