Menlo Park, Calif.-based venture capital and private equity firm HighBar Partners has landed $208 million for its third fund, HighBar Partners III, L.P, exceeding an agreed upon hard cap of $200 million. Capstone Partners served as exclusive placement agent for HighBar Partners.
The investment firm focuses on enterprise and infrastructure software and SaaS companies. Led by Managing Partner John Kim, HighBar targets companies undergoing “significant change or transition and provides patient, long-term capital to build successful businesses.” The firm invests in companies located in North America, with “meaningful revenue generation” and “stable, referenceable customers,” along with technology intended to solve critical business problems.
The firm says that HighBar III will continue a sector-driven approach to investing in situations where HighBar can contribute significant resources to technology companies that are experiencing business transformations.
The fund has already invested in infrastructure performance management platform Virtual Instruments and customer identity and access management solution company Janrain. HighBar indicates that the new fundraise will help the firm target larger deals with new co-investment partners.
In June 2013, the Silicon Valley private equity shop closed HighBar Partners II, L.P., at $130 million.