Company expands its capital options for US-based B2B SaaS businesses with $50M Equity Fund
CLEVELAND, Ohio (May, 06, 2024) – River SaaS Capital provides alternative venture financing to growing software-as-a-service (SaaS) businesses. They offer fast, flexible financing solutions to qualified new borrowers. The company announced today its newly launched equity fund, TruWest Fund I. This new $50 million fund will invest in US-based B2B software-as-a-service businesses and act as a continuum of capital for high potential companies in River SaaS Capital’s venture debt portfolio.
“Launching our equity fund marks a significant milestone in our journey to empower and scale high-potential B2B software-as-a-service businesses,” said Matt Kennedy, co-managing member of TruWest Holdings, parent company of River SaaS Capital. “This move is designed to fuel the next phase of growth for US-based SaaS businesses, ensuring they have the resources and backing to innovate, expand and lead in their respective markets.”
This equity fund is the next step in River SaaS Capital’s investing strategy. In 2015, they launched as a provider of alternative venture financing to early-stage SaaS companies throughout the U.S. With the success of the venture debt fund, the team then started making direct equity investments in select portfolio companies in 2019. Now, with both River SaaS Capital’s venture debt offerings and equity capabilities, they’ll be able to offer multiple capital options to their portfolio at scale.
“With this new $50 million fund, we are not just providing capital; we are offering a continuum of support that includes strategic leadership and operational expertise along with financial resources,” said Wendy Jarchow, Chief Investment Officer. “Funding for SaaS companies is not one size fits all. With our ability to offer both debt and equity, we’re able to fetch companies the best mix of capital for their budgets.”
About River SaaS Capital
River SaaS Capital provides alternative venture financing to growing software-as-a-service (SaaS) businesses. We offer fast, flexible financing solutions, typically providing non-dilutive, revenue-based financing to qualified new borrowers in 36-48 month term loans and growing with our portfolio companies over time (via either debt and/or equity). To learn more, visit www.riversaascapital.com.
