Prysm Capital Closes $305M Inaugural Growth Equity Fund

Prysm Capital (“Prysm” or the “Firm”), a growth private equity firm that invests in the technology, consumer and healthcare sectors, today announced the closing of its first fund, Prysm Capital Fund I, LP (the “Fund”), with $305 million in capital commitments. The fund received support from a diverse institutional investor base, spanning public pension funds, corporate pension funds, university endowments, family offices and foundations.

Prysm Capital is focused on partnering with exceptional entrepreneurs and management teams who are building disruptive, generational and enduring companies. The firm was founded in 2019 by Jay Park, Muhammad Mian and Matt Roberts, who previously worked together at BlackRock for nearly a decade. With offices in New York, Princeton and San Francisco, the firm currently manages over $1 billion in assets.

“We are humbled and incredibly grateful for the trust and support of our capital partners and are excited to continue working with the founders and management team,” said Mr. Park, co-founder and managing partner of Prysm. “This fundraising is an endorsement of what we’ve built at Prysm to date – our partnership approach to growth investing and our team.”

As a minority-owned firm, Prysm upholds the fundamental belief that diversity of thought drives better leadership, decision-making and results. “We believe team and culture are the most enduring competitive advantages. To that end, we have been intentional about building a diverse and inclusive firm – centered on character and integrity, collaboration and hustle, and openness with all our partners,” said Mr. Park .

“We chose Prysm as a partner because we felt a strong cultural fit between our companies – in our shared values, our investment in people and our focus on diversity,” said Jenny He, co-founder and CEO of Ergeon. “Prysm supports visionary companies, and we knew they recognized our ambitions and long-term goals from day one. As we’ve scaled our business, the Prysm team has acted as an extension of our own, acting as strategic and active thought partners. “

Prysm is a flexible growth capital provider to management teams with a focus on active collaboration and partnership. Prysm uses a top-down thematic investment approach, combined with bottom-up network-based sourcing, to identify new innovators and drive growth.

Steve Neel, deputy chief investment officer at the New Mexico Educational Retirement Board, said: “NMERB is committed to supporting new and innovative talent in the investment industry and we believe in Prysm and its strategy. The Prysm team has a demonstrated history of generating differentiated investment opportunities, leveraging trusted relationships to partner with category-defining disruptors. More importantly, we remain dedicated to enabling diverse perspectives and nurturing a dynamic investment ecosystem.”

Acalyx Advisors acted as placement agent and Kirkland & Ellis acted as legal advisor to Prysm.