Bridge Growth Closes $790M Continuation Vehicle for Solace
The single-asset continuation vehicle raised $790 million from institutions including Apogem Capital and Golub Capital, and represents the inaugural investment of Bridge Growth's new flagship fund.
Takeaways
- Solace is a real-time data and agentic AI platform for enterprises.
- Bridge Growth Partners is investing in Solace.
- The business serves enterprise AI.
A $790 million single-asset continuation vehicle for Solace closed on May 5, giving private equity firm Bridge Growth Partners additional capital and time to scale the enterprise AI platform.
The vehicle raised $790 million in commitments, providing liquidity to existing investors while securing a new pool of capital from a group of institutions.
Solace operates a real-time data and event-streaming platform built with agentic AI capabilities.
The technology serves enterprises looking to connect, integrate and act on data across hybrid and multi-cloud environments as AI-driven applications become more pervasive.
Bridge Growth Partners, which focuses on technology and technology-enabled services, structured the vehicle to extend its hold on Solace.
Investors in the vehicle included Apogem Capital, Golub Capital, HSBC Asset Management and Schroders Capital.
The transaction also served as the inaugural investment for the firm's new flagship fund, Bridge Growth Partners III.
Willkie Farr & Gallagher LLP advised Bridge Growth on the deal, fielding a team led by partners Phillip Isom, Matthew Block, Howard Block and Caitlin Link.
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