Topmark raises new growth equity fund

Florida-based Topmark Partners has rebranded its organization from the name Stonehenge Growth Equity Partners in addition to raising a new growth equity fund that is on the hunt for new investment opportunities. The partnership remains led by Steve Lux, Travis Milks and Brian Model, the three founders who have worked together for more than 20 years. They have successfully investing in more than 40 companies and navigated through numerous market shifts and business cycles. The new name was adopted earlier this year and Topmark is a nod to navigational beacons that guide sea-going vessels along the best route. The new fund opened to investors this year and quickly began closing on subscriptions into the fund, the size of which was not disclosed in the announcement. “We are thrilled to be out in the market exploring new opportunities, and we are especially grateful to have many repeat investors backing this new chapter for our group,” said Topmark Partners Managing Partner Milks. “We remain focused on identifying the next cadre of innovative and successful companies that are ready for an injection of funding to grow their businesses to the next level.” The new fund has a target size of $75 million and so far, Topmark has closed on well over half that target with their first close. Overall the firm has $100 million in AUM. The Tampa-based team invests in companies generating $3 million to $30 million in annual revenue and are at or close to profitability, said Topmark Partners Managing Partner Lux. “We find the best outcomes result from taking a coaching role with the companies we support,” he added. “That means bringing in new resources and expertise to companies that already have a proven business model. Now those companies are ready for an injection of capital to fuel their next stage of growth.” According to Model, who is also a managing partner at the firm, the pandemic has spurred innovation in key industries such as those areas where Topmark has invested in for years including technology companies that focus on solving business problems, including those in the healthcare arena. “We feel companies with those attributes will be among the most successful organizations to emerge in this new chapter,” Model said. One such company is STRAX Intelligence, which has been aided in building industry relationships and business connections via Topmark, according to Scott Adams, CEO of the technology and security company.

Topmark raises new growth equity fund

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