SALT LAKE CITY, Feb. 2, 2021 /PRNewswire/ -- Today, Mercato Partners announced it has completed the final distribution of its inaugural Traverse Growth Fund. The fund was originally announced in October 2007 with an investment in consumer audio brand Skullcandy. Over the life of the fund, Mercato has supported the growth stage and highly successful exits for well-known technology and consumer companies, including Control4, MediConnect Global, Stance and Fusion-io, supporting their rapid growth.
Pursuing a strategy of finding and funding growth-stage companies in underserved markets and providing stage specific counsel in sales, marketing and human capital, Fund I delivered a net multiple return of 3.7x and a net IRR of 51%, placing it in the top 3% of comparable funds since 2005.
"We are proud of the results delivered by Fund I. Investors have many choices when it comes to where to place their funds," said Greg Warnock, co-founder and managing director of Mercato Partners. "Our organization is built around finding rare opportunities in overlooked areas. We select those with demonstrated growth and a loyal customer base, and we offer experienced value-add. As a result, we've been able to find exceptional entrepreneurs for over a decade, helping to drive growth, promote exits, and deliver strong returns to our investors."
Mercato Partners is currently deploying its third growth fund, now under the Traverse brand. In the past 14 years, Mercato has also added three new practices: Savory, a dedicated food and beverage fund; Alpha, a direct secondaries fund; and Prelude, an early-stage venture fund.
"Mercato Partners came in just when we needed the fuel to support our pre-IPO growth," said Will West, co-founder of Control4, which went public in August 2013. "Greg is very smart and I have enormous respect for his acumen as both an investor and an advisor. He's built an organization that knows how and when to get into deals and as their Fund I results show, LPs should feel like their money is in smart hands with Mercato."
For more information about Mercato, its funds, and portfolio companies, please visit mercatopartners.com.
About Mercato Partners
Mercato Partners is a private equity firm, investing across multiple alternative asset classes, to provide both capital and guidance to founders and companies in a range of stages and a variety of industries from technology to food and beverage to branded consumer. Through a combination of firm-wide scaling expertise with a dedicated focus on overlooked and underserved markets, we are uniquely capable of accelerating company growth and delivering industry-leading returns. For more information, please visit www.mercatopartners.com.
SOURCE Mercato Partners