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AI Diligence for Limited Partners

Powerful, AI-driven due diligence automation for family offices, endowments, and pensions.

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Summit Equity

NovaTech Merger

Due Diligence
Summary

Growth-stage enterprise SaaS platform specializing in workflow automation for mid-market companies. Strong ARR growth at 45% YoY with net retention above 130%. Key risks include customer concentration in financial services and pending regulatory changes in data handling.

Properties
Fund Size
$1.2B
Strategy
Growth Equity
Geography
North America
Vintage
2024
Created by
Alex Kim
Backlog3
Granite Peak LP
DH
Axiom Robotics
Redwood Partners
TS
Clearwater Analytics
Ironbridge Capital
LP
Prism Healthcare
Screening4
Apex Capital
JM
Horizon SaaS Platform
Redwood Partners
TS
CloudSync Acquisition
Granite Peak LP
DH
Velox Payments
Summit Equity
AK
BrightPath Education
Due Diligence5
Summit Equity
AK
NovaTech Merger
Ironbridge Capital
LP
DataStream Analytics
Apex Capital
JM
GreenLeaf Organics
Crestline Partners
RN
Meridian Logistics
Granite Peak LP
DH
TrueNorth Insurance
IC Review3
Crestline Partners
RN
UrbanGrid Logistics
Redwood Partners
TS
Cobalt Therapeutics
Ironbridge Capital
LP
Keystone Manufacturing
Approved3
Summit Equity
TS
Pinnacle Health Group
Redwood Partners
AK
AeroVault Systems
Apex Capital
JM
Solstice Energy
Closed2
Ironbridge Capital
LP
BlueRock Media
Granite Peak LP
DH
Cascade Networks
Passed3
Crestline Partners
RN
QuickServe POS
Summit Equity
AK
Ironclad Security
Apex Capital
JM
Driftwood Hospitality
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OverviewFinancialsLegalComplianceOperations

Fund Overview

Blackridge Capital Partners is raising Fund VI, targeting $2.8B for middle-market buyouts in industrials and business services. The GP deployed Fund V across 14 deals with a 2.1x gross MOIC and 18% net IRR, though returns were concentrated in three exits representing 60% of total value.

Historical Fund Performance

Net IRR (Fund V)

18.3%

Gross MOIC (Fund V)

2.1x

Manager Experience

The senior team has been stable, with three founding partners averaging 22 years in private equity. However, two mid-level partners departed in 2024, and the fund has yet to backfill key sourcing roles in the industrials vertical.

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Total Holdings32
Total NAV$835.4M
Total Unfunded Commitment$121.0M
Total Net Cash Flow-$551.2M
NAV Over Time
Net Cash Flows
Portfolio TVPI1.26x
Portfolio DPI0.30x
Total Contributions$785.0M
Total Distributions$233.8M
NAV by Asset Class
Private Equity
Growth Equity
Real Estate
Venture Capital
Hedge Fund
Infrastructure
Other
NAV by Geography
North America
Global
Europe
Asia-Pacific
NAV by Vintage Year
2017
2018
2019
2020
2021
2022
2023
NAV by Sponsor
NAV by Strategy
Holdings by Asset Class
FundSponsorStrategyVintageNAVTVPIIRR
KKR Americas XIIKKRBuyout2018$142.3M1.8x18.2%
Blackstone Real Estate IXBlackstoneReal Estate2019$98.1M1.5x14.7%
Thoma Bravo Fund XVThoma BravoGrowth2020$87.4M2.1x24.3%
Brookfield Infra IVBrookfieldInfrastructure2021$65.2M1.3x11.8%
Warburg Pincus XIVWarburgGrowth2022$58.0M1.2x15.6%
General Atlantic VIGen. AtlanticGrowth Equity2020$42.8M1.6x19.1%
EQT XEQTBuyout2021$38.5M1.4x16.9%
Ares Capital Corp VIAresCredit2019$35.1M1.2x9.4%
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User

Revise the main model in the vdr to include years 2026 and 2027.

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User

Let's add 2028 to it as well.

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