Potential investors have been advised that Advent International’s European and US middle market buyout fund is in the works to be added at short notice.
Potentum was aiming for $200 million for its main fund, while continuing to raise smaller annual funds to swing into co-investment deals going through the main fund.
The pitch decks didn’t go into Potentum’s returns, but they did remind investors that the team, over its Future Fund days, delivered 25.3 per net internal rate of return in buyout, venture capital and in co-investments, 20.5% net IRR in secondary schools and 17.3 percentage net IRR across the entire program.
Picks from the first co-investment fund included US wireless spectrum auction, German restaurant supply ordering software Choco and US healthcare enterprise software company Athernahealth.
The bulk of the first co-investment fund‘s picks were in tech companies, including California-based information security firm Exabeam, machine learning startup Pachyderm, data analytics platform Dremio, authentication company Beyond Identity and Branch.
It also creates smaller Special Purpose Vehicles (SPVs) to invest in unique opportunities and tailored managed accounts for wealthier clients.
The trio have worked together for 13 years, making more than 50 co-investments and 60 fund investments, according to the pitch.