SAN FRANCISCO--(BUSINESS WIRE)--L2 Point Management, LLC (“L2 Point”), a private investment firm that provides innovative capital solutions to growth-stage companies, today announced the successful close of its inaugural structured equity fund, L2 Point Opportunities I, L.P. (the “Fund”), at approximately $312 million, surpassing its $300 million target. The Fund’s capital, together with capital raised by L2 Point for related co-investment vehicles, totals nearly $460 million. The Fund’s investor base is comprised of leading institutions, including public pension plans, foundations, insurance companies, funds of funds, and high-net worth individuals.
L2 Point is a woman- and Latina-owned and led business founded by Managing Partner and Chief Investment Officer Kerstin Dittmar. L2 Point uses its expertise across the capital structure and an out-of-the-box structuring approach to tailor financing solutions that seek to optimize the cost of capital for companies across the technology and technology-enabled, consumer, healthcare, and media sectors. The firm’s strategy aims to provide investors exposure to growth companies with mitigated downside risk through structural protections and contractual returns and meaningful upside potential through equity participation.
“Late-stage growth companies today are faced with a dilemma: sell equity in their business and incur permanent and costly dilution, or take on operationally restrictive debt,” said Ms. Dittmar. “At L2 Point, we seek to provide a better, alternative solution that enables companies to minimize dilution while continuing to invest in attractive growth opportunities. In the current market environment, where companies are staying private for longer and valuations are resetting, we believe an exceptional opportunity exists to serve as a partner of choice to management teams navigating the challenges and possibilities of today and tomorrow. We are grateful for the support of our limited partners, who see the value of our differentiated structured equity strategy.”
Since inception, L2 Point has raised more than $500 million of capital commitments. The firm’s investments to date include SimSpace, a market leader in military-grade cyber ranges; Wasabi Technologies, a provider of affordable, predictable, and secure cloud storage solutions; Fabletics, the world’s largest digitally native activewear brand; and Revolution Foods, a provider of healthy, freshly prepared meals to students, families, and communities.
PJT Park Hill served as placement agent to L2 Point in connection with the fundraise. Proskauer Rose LLP served as legal counsel.
About L2 Point Management
L2 Point Management is a San Francisco based investment firm providing innovative capital solutions for growth companies. With expertise across the capital structure, L2 Point works to address a common concern of late-stage companies today: the lack of an alternative cost of capital product between highly dilutive growth equity and operationally restrictive debt. For more information, please visit: www.L2-Point.com.
