Centana Growth Partners closes Fund III
Centana Growth Partners, a specialized growth equity firm investing in the future of finance, announced the closing of its oversubscribed third fund, Centana Growth Partners III, L.P. with $600 million in capital commitments from limited partners.
The latest closing builds on the successes of Centana’s previous funds, including its Fund II, which closed with $375 million in limited partner commitments.
Fund III focuses on companies with a strong track record of growth, experienced management teams, and meaningful customer traction with $7 to $75 million in recurring revenue. Investments will continue to target businesses in core verticals such as asset management, insurance, banking, digital identity, wealth management, payments, capital markets, and enterprise technologies that support these sectors. Centana typically makes targeted investments of $10 million to $50 million or more, and portfolio companies should benefit from access to Centana’s Strategic Network, and Centana’s partners’ decades of experience working with companies in this ecosystem.
Centana Growth Partners has made investments in 27 companies. In 2024 so far, Centana led investments in five companies, including Adroit Trading Technologies, which secured $15 million for its end-to-end execution management system designed for fixed income and OTC traders; Cayosoft, which raised $22.5 million to support its unified solution for secure management and recovery of Microsoft Active Directory platforms; Gradient AI, which received $56 million to enhance its AI-driven predictive analytics platform for the insurance industry; WarrCloud, which garnered $20 million to expand its automated warranty processing solution; and First Connect, which secured $60 million to grow its digital insurance aggregator linking independent agents with carriers and MGAs.
“The financial services landscape is undergoing major changes, with evolving technology and regulations driving disruption across every sector. We see tremendous potential in helping businesses navigate these shifts. Our latest fund continues to allow us to do more than provide capital – it empowers us to partner with innovative companies, offering strategic insights, industry expertise, and resources to help them address challenges and accelerate growth.” – Ben Cukier, Partner.
“The retreat of some generalist investors has left opportunities in fintech and financial services, and Centana has had a long-term, consistent focus on this area. These shifts in the market present opportunities for Centana to continue investing where innovation can deliver meaningful impact and present real solutions to real problems.” – Eric Byunn, Partner.
