NEW YORK–(BUSINESS WIRE)–The Raine Group, a leading global strategic advisory and investment firm, announced the closing of Raine Partners IV, the newest fund in its flagship growth equity strategy, at a total fund size of over $760 million, bringing firm AUM to nearly $4 billion. The fund was supported by its strong base of limited partners, which includes public pension plans, sovereign wealth funds and other institutional investors as well as select strategic corporates and family offices.
“We are pleased to announce the closing of Raine Partners IV,” said Sherri Williams, Partner and Head of Investor Relations and Fundraising. “We appreciate this vote of confidence from our limited partners and we look forward to building on our firm’s strong track record of investing in transformative growth companies within our core sectors of focus. We look forward to working with our investors and portfolio companies to achieve their full potential.”
Similar to its predecessor funds, Raine Partners IV will invest in growth-stage TMT companies, with a particular focus on sports, media, entertainment and gaming. Raine Partners IV has already made its initial investment in Tripledot Studios, a leading mobile games developer with a diversified portfolio of casual games.
“We are excited to have made our first investment from Raine Partners IV in Tripledot,” said John Salter, Co-Founder and Partner of Raine. “We have known the management team since inception and believe the company is one of the strongest in casual gaming, recently topping the FT/Statista ranking as Europe’s fastest-growing company. As a highly profitable business with more than 400 staff and about 50 million monthly active users, we look forward to actively working with their team to drive continued growth in the casual gaming market.”
Founded in 2009, Raine Partners has a demonstrated track record of investing in industry-shaping companies. Some of the firm’s notable investments include DraftKings, Moonbug, Imagine Entertainment, TelevisaUnivision and VideoAmp.
About The Raine Group
The Raine Group is a leading global TMT merchant bank with an integrated focus on both advisory and principal investment in the global TMT ecosystem. Founded in 2009, Raine has advised on some of the largest, most impactful and most cutting-edge transactions in the history of TMT and has leveraged that same breadth and depth of intelligence to be an active, strategic value-add growth and venture capital investor. Based in New York, Raine has offices in San Francisco, Los Angeles, London, Paris, Mumbai, Shanghai, Hong Kong and Singapore. For more information, including a complete list of investments, please visit raine.com
