Sunstone Partners Closes First Fund at $300M

Sunstone Partners closed its first fund at $300 million, which is $100 million above target, the firm said.

Sunstone spun out of the growth equity team of Trident Capital and said it would continue to lead growth equity investments and majority recapitalizations and buyouts in technology-enabled services businesses.

The firm is focused on health care IT, Internet and marketing services, cloud and enterprise IT and cybersecurity. It expects its investments to range from $15 million to $75 million per company.

Companies that want investments from Sunstone should be breaking even or profitable, with annual revenue of at least $10 million and annual revenue growth of more than 20%, the firm said. Sunstone invested in UserZoom Technologies, which makes cloud-based research and testing software, in 2015.

The co-founders of Sunstone are Gustavo Alberelli, Michael Biggee, John Moragne and Arneek Multani. The new fund is called Sunstone Partners I L.P.

First appeared at WSJ VC