Traveller Capital holds close on second fund

The Dallas firm held a first close with $14.7m for Traveller Capital Partners II, a little over a year after it held a final close on its first fund.

Traveller Capital Advisors has held a first close on its Traveller Capital Partners II, according to a regulatory filing with the Securities and Exchange Commission.

The Dallas firm closed on $14.7 million toward its $25 million target, and now has $10.3 million still to raise. The money was raised among five undisclosed investors, according to a form D filed on 6 August.

Traveller was founded by Thomas Andrew Crichton, known as Drew Crichton.

The minimum amount accepted from an outside investor is $75,000.

The firm’s first fund, Traveller Capital Partners I, closed in May 2014 with $9.3 million, according to another regulatory filing. The minimum investment accepted from an outside investor in that fund was $100,000.

Traveller Capital Advisors buys single fund stakes as well as portfolio of fund interests in the secondaries market. It was founded to primarily pursue smaller secondaries transactions of at least five years old with net balances below $2 million, according to the firm’s website.

Prior to founding Traveller Capital Advisors in 2013, Crichton was a principal with Sun Mountain Capital.

Traveller Capital wasn’t immediately available for comment.