Sydney-based Anacacia Capital is targeting to raise $240 million for its third Australia-focused fund, a vehicle pegged significantly larger than the firm’s predecessor that was worth $120.8 million.
According to a report from PEI on Wednesday, the fund is set to be launched by the end of the first quarter this year. The same report has been published on Anacacia’s official website on Thursday.
The firm, which focuses on private equity and small cap, has so far exceeded $280 million in commitments in about 60 small and medium investments. With the third fund, it is set to invest in up to 12 companies that may be facing succession issues or need acquisition-led capital, according to the report.
Meanwhile, the timing for the launch of the follow-up fund seems appropriate with the second fund, that came into 2013, being over 70 per cent deployed.
Anacacia Capital earlier this month acquired a majority stake in Sydney-based fire sprinkler and alarm firm Force Fire in a bid to expand the market share for the company in the Australian fire and security alarm installation services market which is worth $3 billion annually.
Among its other former investments include listed global language technology company Appen, timber firm Big River Industries, Acculec distributes and markets electrical products through Bri-Tech and ECO. Others include heights safety business RISsafety and Yumi’s which is a chilled dips and snacks company.