Boston, MA – Clearhaven Partners LP (“Clearhaven Partners”), a leading Boston-based private equity firm exclusively focused on software investments, has announced the successful closing of its second fund, Clearhaven Fund II, L.P. (“Fund II”). The fund closed at over $580 million in capital commitments, surpassing its initial target and reaching its hard cap, demonstrating strong investor confidence in the firm’s focused strategy and experienced team. This achievement comes approximately two years after Clearhaven Partners closed its debut fund, highlighting the firm’s rapid growth and continued momentum in the competitive software private equity landscape. Clearhaven Partners targets investments in growing lower middle market software and technology companies, specifically those with revenues ranging from approximately $20 million to $100 million.
Fund II garnered significant interest from a diverse institutional investor base. Commitments came predominantly from investors who had previously supported Clearhaven Partners’ inaugural first fund, alongside several new prominent investor relationships. The investor mix includes leading endowments and foundations, pension funds, insurance companies, family offices, funds-of-funds, and seasoned industry executives, including software leaders with whom Clearhaven professionals have cultivated relationships over years of industry engagement. This diverse and high-caliber investor base underscores the broad appeal of Clearhaven Partners’ investment approach and the confidence in their ability to generate strong returns within the software sector.
Launched in 2019 by Michelle Noon, Founder and Managing Partner, Clearhaven Partners was built upon nearly two decades of her deep experience as a software private equity investor. The firm’s inaugural fund closed at an impressive $312 million in 2021, navigating the challenges of the pandemic environment. Clearhaven Partners distinguishes itself through a proactive and thematic approach to identifying compelling investment opportunities. They are committed to backing strong management teams and companies seeking a genuine partner to facilitate and accelerate their growth ambitions. The investment team is expertly co-led by Michelle Noon and Chris Ryan, a Managing Partner with extensive experience in technology investing. Further strengthening the team is Operating Partner and Co-Founder Kevin Wood, contributing deep operational expertise. The entire Boston-based Clearhaven Partners team is composed of seasoned technology investors and operators, creating a powerful blend of financial acumen and practical industry knowledge.
Michelle Noon, Founder and Managing Partner, expressed her gratitude and vision for the future: “We are deeply appreciative of the conviction and steadfast support demonstrated by both our returning and new limited partners through their commitments to Clearhaven Fund II. Our firm’s foundation rests on principles of focus, humility, and the unwavering integrity to deliver on our promises, regardless of market conditions. Our investors recognize these core values that drive Clearhaven Partners as we strive to achieve exceptional returns.” Noon continued, “Our mission remains clear and consistent since day one – to exclusively invest in growing software businesses that seek an operationally-focused partnership with our team, and to uphold an uncompromising set of shared values in all our endeavors. This mission is the driving force behind Fund II.”
Since its inception, Clearhaven Partners has completed 11 transactions, each aligning precisely with the firm’s thematic areas of interest and its commitment to active partnership with company management. Clearhaven Partners’ existing portfolio includes a range of innovative software companies: Engageware, a customer engagement software company; Wowza, specializing in mission-critical video infrastructure software; PhotoShelter, a digital asset management software provider; SundaySky, a personalized video communications SaaS provider; Avoxi, a cloud voice communications software company; and Korbyt, a provider of digital signage and workplace experience software. Managing Partner Chris Ryan commented, “Our Fund I portfolio perfectly exemplifies Clearhaven’s targeted software investment strategy. Looking ahead to Fund II, we are excited to continue identifying similarly high-potential companies that are seeking a partnership with Clearhaven Partners to achieve best-in-class results in the software industry.”
M2O Private Fund Advisors served as the placement agent for Clearhaven Fund II, and Kirkland & Ellis LLP provided legal counsel.
About Clearhaven Partners LP
Clearhaven Partners is a Boston-based private equity firm that invests exclusively in software and technology companies. Founded by a team of experienced investors and operators, Clearhaven Partners partners with differentiated, growing software businesses that have at least $20 million in recurring revenue. The firm leverages its team’s collective 50+ years of software investing and operating experience to provide portfolio companies with a partnership-driven approach and a value creation playbook designed to facilitate profitable scaling. Learn more about Clearhaven Partners at www.clearhavenpartners.com.
