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Ambit Partners, one of the leading institutional investor in SFs, headquartered in Vancouver & Cape Town, has taken a significant step forward with the announcement of its latest venture, Ambit Partners Fund II LP (“Fund II”). With an initial closing exceeding US$20M, Fund II aims to replicate and extend the success of its predecessor, “Fund I”, which raised US$28M in 2021.
Fund I embarked on a mission to invest in 60-80 SFs, aspiring to construct a globally diversified portfolio encompassing approximately 20-30 businesses across multiple continents. Over the course of two-and-a-half years, Fund I has demonstrated remarkable agility and commitment, backing 74 Search Funds across 31 countries, with 15 pioneering investments in “first-in SFs” in these countries such as Africa Search Capital (which acquired Falcon in Ivory Coast), Prospect Search Capital (China), Rou Partners (Uruguay), Tasman Succession (Netherlands) or Fóras Capital (Ireland), among others, and involvement in 20 acquisitions (Colortel, All Essential Fire Systems, Link.it, Nexti, Kofre…), poised to be fully deployed by 2024.
Echoing the sentiments of Ambit Partners’ ethos, Fund II is anchored by esteemed lead investors, including PagsGroup, the family office of private equity luminary and Bain Capital senior advisor, Steve Pagliuca, along with TTCER, the investment vehicle of the principals behind Asurion, the most successful SF in history. This collective backing underscores confidence in Ambit Partners’ vision and execution strategy.
Rob LeBlanc, Co-founder, and Managing Partner of Ambit Partners, expressed elation at the traction gained by Fund II in its nascent stages, particularly given the prevailing fundraising landscape. Niel Wyma, Co-founder, and Partner, highlighted the privilege of garnering support from an exceptional cohort of investors, including both longstanding partners from Fund I and new additions who enrich the network. Andrew Locke, Fellow Co-founder, and Partner, acknowledged the pivotal role played by Fund I Searchers and CEOs in shaping the firm’s track record, underscoring the symbiotic relationship between Ambit Partners and its stakeholders worldwide.
Fund II is poised to capitalize on the successes of its predecessor by adhering to a similar investment strategy, aiming to back 60-80 SFs and engage in 20-30 acquisitions. Moreover, Fund II seeks to explore growth-stage investments in high-performing SF-acquired companies, aligning with its commitment to nurturing entrepreneurial talent and fostering business excellence.
With a subsequent closing slated for Q2 2024, Ambit Partners stands poised to chart new frontiers in the realm of SFs, fostering innovation, growth, and prosperity for all stakeholders involved.
