Four PEWIN Women Raise a Total of $1.5 Billion for their Respective Funds
The Private Equity Women Investor Network (PEWIN) announces that four PEWIN Members have each successfully closed a new fund.
Feb 21, 2019
New York The Private Equity Women Investor Network (PEWIN), the pre-eminent organization for senior-level women investment professionals in private equity, announces that PEWIN Members – Adele Oliva (1315 Capital), Hollie Haynes (Luminate Capital Partners), Kristina Heinze (ParkerGale) and Kate Mitchell (Scale Venture Partners) – have each successfully closed a new fund.
“When we launched PEWIN over a decade ago, certain business magazines claimed that there were only four top women working in private equity. We set out to create an organization to help change this dynamic and this perception,” explained Kelly Williams, the Founder, Co-CEO, and Chairman of PEWIN. Today, PEWIN is a global organization with over 600 members representing institutions with over $2.5 trillion in assets under management. Supporting diversity has become increasingly critical in private equity and venture capital as studies show that diverse-owned private equity firms outperform their relevant benchmarks.
“We are so proud of Adele, Hollie, Kristina, and Kate, who have all each successfully raised multiple funds. These incredible women have led the charge of change, setting an example for our membership and the industry of what can be accomplished,” said Krista Hatcher, PEWIN President.
Given that nine out of ten fund managers are male according to Morningstar, these successes represent notable progress and are representative of the talent of the 600+ PEWIN members around the world.
PEWIN Steering Committee member Adele Oliva, is a Founding Partner of 1315 Capital, LLC, an expansion and growth equity firm that invests in commercial-stage medical technology, healthcare service, and specialty pharmaceutical companies. 1315 Capital raised over $300 million for its second fund, bringing total assets under management to $500 million. Adele commented, “Over the last decade as an active member of PEWIN and attending the Women’s Private Equity Summit, I had the opportunity to build deep relationships with limited partners and general partners. Their advice and guidance were invaluable in the founding of 1315 Capital.”
PEWIN member Hollie Haynes is the Founder and Managing Partner of San Francisco-based Luminate Capital Partners, a private equity firm that invests in growing enterprise software companies. Luminate successfully raised $430 million for its second fund and now manages over $700 million. We are very pleased with the investor response to Fund II which exceeded our expectations,” Holly commented. The new fund was much easier to raise than the first, which, she said, took nearly three years and 500 LP meetings.
PEWIN Events Committee member and Partner Kristina Heinze is a founding member of the Chicago-based private equity firm ParkerGale, LLC, which focuses on investing in profitable, founder-owned technology companies and corporate carve-outs. ParkerGale closed its second fund at $375 million, exceeding the original target of $300 million, and now manages over $600 million. Kristina commented, “The overwhelming interest we received for the fund is a satisfying recognition of what we are building here at ParkerGale. We are excited to start looking for new companies to add to the ParkerGale family over the next few years.”
PEWIN’s Co-CEO and Vice Chair and Co-Founder of the Silicon Valley-based firm Scale Venture Partners Kate Mitchell invests in software companies that are looking to scale. Scale Ventures raised its sixth fund and has backed successful, high growth companies, including ExactTarget (Salesforce), DocuSign, RingCentral (NYSE: RNG), and Box (NYSE: BOX). According to Kate, “Fund VI is a $400 million fund that will continue our strategy of investing in software companies that are creating the future of work”. Founded in 2000, Scale Venture has more than $1 billion under management.
