Christopher Sugden

NASHVILLE-based Managing Partner Christopher Sugden, who represents Edison XI GP LLC from Edison Partners' office in Nashville's WeHo District, filed June 13 on efforts to raise $650MM in private-equity funding.

Achieving or surpassing its goal would make Fund XI the largest in the firm's 38-year history. Fund XI is Edison's fourth consecutive fund dedicated to growth equity since 2015.

Sugden has been with Edison more than 22 years. Prior to Edison, his early stints included Coopers & Lybrand, as well as working in fintech, with the former Princeton eCom. His LinkedIn is here.

Edison Partners has assets under management totaling about $1.7BN. It has done more than 400 financial transactions, including, according to its website, 270 investments, 218 exits and helping build at least 45 portfolio companies, including at least three added so far this year and based respectively in Indiana, Texas and New York.

The new raise attempt follows Edison's $450MM vintage-2021 Fund X, which was the tenth in the series by Princeton, N.J.-born Edison Partners.

The firm was founded in 1986, and recently established Nashville presence in AJ Capital Partners' Nashville Warehouse Co., on 4th Avenue South.

Edison Partners' only investment in a Tennessee firm was in 2016 with Lincor Solutions, which was then led by CEO Chris Cashwell and was Brentwood-based patient engagement solution provider. Its US operations are now based in Dallas. VNC Lincor coverage here.

Gregg Michaelson

Kelly Ford Buckley

Other Edison execs with Nashville addresses shown on the SEC filing are Gregg Michaelson and Kelly Ford Buckley. Sugden, Michaelson and Ford-Buckley all hold degrees from Michigan universities. Ford-Buckley is also a university-linked mentor and entrepreneur in residence.

Edison execs on the filing based elsewhere include General Partners Lenard Marcus and Ryan Ziegler.

Nashville team members also include Principal Steve Zieja and Associate Felix Rauch.

Some pro's who are affiliates of Edison work from the Atlanta and Chattanooga areas, as well as New Jersey and Nashville, according to LinkedIn.

Edison seeks to make minority and control investments in Fintech, Healthcare IT and Enterprise Software ventures located outside Silicon Valley and producing at least $10MM in revenue, with top-end revenue variously pegged at $30MM-$50MM. Targeted companies show 30% or greater growth rates and documented capital efficiency.

10+ hang hats in Edison in WeHo

Edison has previously said it addresses many "underserved geographies," including cities in Texas and North Carolina.

Edison has also said that its "value-creation platform," known as Edison Edge, affords portfolio teams access to proprietary centers of excellence, and access to operating and best-practices expertise.

Yesterday's initial report of Edison XI carries no mention of LP contributions circled, thus far, but does reflect prospective sales compensation for raising funds for Nashville- and New Jersey-based UBS Financial Services and Pennsylvania-based Invicta Capital LLC. VNC

. last edited 0749 cdst 17 June 2024