Human Capital Driven Fund Raises $900 Million

A private equity fund investing in what it calls human-capital driven and technology-enabled services announces that its inaugural Fund, Coalesce Capital Fund I LP, was oversubscribed.

Coalesce Capital, known as Coalesce, is a private equity firm investing in human capital-driven and technology-enabled services companies. It says the fund was “oversubscribed and secured investor commitments in nine months, above its original target of $750 million.” It says it now has approximately $1 billion in regulatory assets under management.

The fund says its “globally diversified investor base is comprised of leading endowments, foundations, healthcare and pension systems, financial institutions, and entrepreneurs. Coalesce has begun deploying the fund and recently completed its first investment in Examinetics, a leading provider of occupational health compliance testing services.”

The company says it “was formed to partner with ambitious entrepreneurs leading human capital- and technology-enabled services businesses. Our goal is to accelerate the growth of these companies by applying our financial capital and collaborative value creation approach,” explains Stephanie Geveda, Founder and Managing Partner of Coalesce.

The company describes itself as “a private equity firm that partners with entrepreneurs and management teams to build enduring value around differentiated businesses. Dedicated to investing in human capital-driven and technology-enabled services companies, the firm’s growth-oriented investment philosophy centers around its conviction that people are the most important ingredient of value creation. Coalesce leverages its sector expertise, strategic resources, and capital to collaborate with management teams to create shared success.”

Geveda did not respond to an ESM request for comment, but according to the Wall Street Journal, Coalesce “focuses on companies that perform essential business operations and rely heavily on skilled workers or technology-based processes, making their services hard to replace.”

That includes subsectors that include services for infrastructure, commercial buildings and facilities, testing, inspection and compliance, or housing and franchise businesses.

It reportedly targets investments in business services providers with enterprise values ranging from $100 million to $300 million, with at least $5 million to $50 million of earnings before interest, taxes, depreciation, and amortization.

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