Jan 17, 2025 | GroveStreet, In the News, Uncategorized
As we commence the new year, we’re excited to share several important milestones at GroveStreet.
New Client Commitments
First, on the client front we’re pleased to report one of our long-standing investors contracted a 7th investment program with GroveStreet in the fourth quarter. We are deeply honored by the vote of confidence and trust intrinsic to another client extending their collaboration with our organization. Adding to the exciting momentum from our investors, this program brings total commitments to GroveStreet in 2024 to $670 million.
Patrick Sherwood and Mario Miranda Promoted to Managing Partner
Organizationally, we’re delighted to announce that Partners Patrick Sherwood and Mario Miranda have been promoted to Managing Partners. During their time at GroveStreet, they have each made impactful contributions to our investment process, serving our clients and running our business. As Managing Partners, they will help lead GroveStreet in the years ahead. Patrick and Mario add to the character of our culture where each Partner brings distinctive talents and perspectives which equip GroveStreet to continue to pursue exceptional investment results in highly engaged collaboration with our clients.
Compelling Investment Opportunities
On the investment front, we remain excited about the opportunities in venture, lower middle market buyouts and co-investments. Deal flow is abundant, although our bar remains very high as we focus on building concentrated portfolios. The macro landscape, as is often the case, roils with cross currents mixed with favorable and challenging trends. We don’t seek to prognosticate macro markets but instead maintain a time horizon commensurate with our target segments and seek the most compelling, enduring opportunities on a bottom-up basis. This approach has served our clients well for over a quarter of a century.
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Jan 9, 2025 | GroveStreet, In the News
Benford Capital Partners exits Pasture Brands, a Better-For-You food platform focused on perimeter-of-store refrigerated products with two brands: Farmers Hen House, a leading provider of branded and private label specialty eggs, and Pillars Yogurt, a branded provider of better-for-you drinkable and plant-based yogurt. Pasture Brands was acquired by Pete & Gerry’s Organics, a leading specialty egg company.
Benford acquired Farmers Hen House in December 2021 and Pillars Yogurt in April 2024. Over the course of its 3-year investment Benford bolstered the executive team, prioritized branded revenue growth, expanded the Company’s network of suppliers, and successfully acquired and integrated Pillar Yogurt, a highly complementary brand in the dairy case. GroveStreet first became a Benford LP in 2020. Read more about the deal here.
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Dec 5, 2024 | GroveStreet, In the News
GroveStreet Partner Patrick Sherwood shared thoughts on the current venture landscape and what the future portends for VC at SuperReturn Japan. GroveStreet team members are regularly in Tokyo collaborating with some of Japan’s leading institutional investors in navigating and accessing venture opportunities. To learn about GroveStreet’s insights on venture markets or our investment capabilities, click here to arrange a call with our team.
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Nov 19, 2024 | GroveStreet, In the News
GroveStreet Partner Patrick Sherwood hosted Sten Tamkivi of Plural, Sri Chandrasekar of Point72 Ventures, Kelly Chen of NATO Innovation Fund, and Matt Byington of General Catalyst for a panel discussion on investing in next generation defense opportunities. The timely topic attracted a standing room only audience and lively Q&A. Joining GroveStreet in hosting the event were Keva, Tesi, the European Investment Bank, and the European Investment Fund. SLUSH is Europe’s premier startup conference. To learn about GroveStreet’s perspective on investing in defense and dual use technologies, click here to arrange a call with the GroveStreet team.
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Nov 11, 2024 | GroveStreet, In the News
GroveStreet Partner Mario Miranda joined David Teten of Coolwater, Evan Finkel of Integra Global Advisors, and Kelly DePonte of KD Advisory for a discussion on best practices for emerging managers. The session attracted an audience of seasoned investors and emerging managers. The discussion delved into how emerging managers should approach the institutional investor community, examining what they should proactively address and what they should avoid in the fundraising process. Additionally, each presenter described how emerging managers fit within a broader portfolio strategy. To learn about GroveStreet’s philosophy and underwriting for investing in emerging managers, click here to arrange a call with the GroveStreet team.
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Oct 17, 2024 | GroveStreet, In the News
GroveStreet has been an investor in Accel since 2009. Accel’s first Growth Fund led Squarespace’s $38M Series A in 2010. Squarespace went public in May 2021 via a direct listing at a $6.6B enterprise value, at which point Accel partially realized its investment. In October 2024, Accel fully realized its interest in Squarespace when Permira acquired the Company in an all-cash take-private deal valuing the company at $7.2B, or a 36% premium over the stock’s 90-day average price. Read more about the deal here.
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