BOSTON — Denali Growth Partners (DGP) has announced the final close of its second growth equity fund, raising $400 million in capital commitments—surpassing its initial $350 million target. The fund drew strong interest from a mix of returning and new institutional investors, reflecting confidence in the firm’s strategy of backing high-performing, founder-led businesses.
Denali Growth Partners Fund II builds on the momentum of the firm’s inaugural fund, which raised more than $200 million in 2021. The firm focuses on growth-stage investments in capital-efficient and profitable companies operating in sectors such as healthcare, life sciences, professional services, software, and technology-enabled platforms.
“DGP was founded to bring founder-aligned growth capital to companies doing extraordinary things, often outside the limelight,” said Jesse Lane, founder and managing partner. “We are incredibly grateful for the trust and support from our limited partners. Their belief in our model—and in the entrepreneurs we support—continues to be at the core of our success.”
The fund attracted capital from a broad base of institutional investors, including pension funds, insurance firms, family offices, funds of funds, endowments, foundations, and asset managers.
Since its inception, Denali Growth Partners has invested in 11 platform companies that together generate over $900 million in annual revenue, more than $100 million in EBITDA, and employ over 3,000 people. The new fund will allow DGP to deepen its commitment to companies poised for long-term, sustainable growth.
Strathmore Group LLC acted as the exclusive strategic advisor and placement agent for Fund II, while Kirkland & Ellis LLP served as legal counsel.
