Private equity firm Trinity Hunt Partners announced the closing of the Trinity Hunt Partners VII fund, which raised an oversubscribed $700 million in capital. Completed in under five months, the investor base includes insurance companies, pension funds, endowments, and more. The firm hopes that Fund VII will further the company’s buy-and-build strategy while continuing to focus on expanding small business, healthcare, and consumer services companies.
“Our team is humbled by the enthusiastic support for Fund VII by our investors, particularly in the midst of a challenging fundraising environment industry wide. It’s a testament to the hard work and ingenuity of our team,” Trinity Hunt Managing Partner Blake Apel said. “We are excited to continue to deploy our time-tested investment strategy, with the aim of providing the highest quality talent and capital solutions needed to significantly enhance the growth of small-cap services companies.”
Trinity Hunt Partners currently has more than $2 billion of assets. In the last two years, Trinity Hunt has more than doubled the size of its work base to more than 40 employees. In 2023, the firm completed more than 30 transactions. Aviditi Advisors served as Trinity Hunt’s private placement advisor and Kirkland & Ellis served as the legal counsel for Fund VII.
Trinity Hunt targets small-cap companies. Founded in 1993, the firm typically invests between $15 million and $50 million in companies with between $4 million to $25 million of EBITDA.
Braemont Capital Adds to Portfolio
Investment firm Braemont Capital has acquired Loenbro, a Colorado-based tech provider for data center, industrial, and infrastructure markets, from Tailwind Capital.
“Loenbro is an exceptional company, and the sector dynamics represent a significant opportunity to scale the business while maintaining the customer-first orientation that has been its hallmark,” Robert Covington, managing partner of Braemont, said. “This investment represented one of the largest to date for Braemont, which was driven by our long history of investing in the data center and related markets.”
Braemont’s investment in Loenbro’s trajectory will position the company for growth through organic and M&A-driven initiatives.
“I am confident that Braemont is the right partner to support Loenbro’s next phase of growth, and their expertise in scaling service-based businesses will create efficiencies and drive value for our partners,” Loenbro CEO and President Daniel Cowan said.
Dallas Stars Partner With NY2LA Sports
The Dallas Stars continue to increase its youth sports involvement as the hockey club has partnered with Wisconsin-based grassroots basketball platform NY2LA Sports. The partnership will bring many top national tournaments to Dallas to play at the Stars’ youth facilities and create NY2LA local Dallas-area leagues for youth and high school-age basketball players.
“The Dallas Stars are thrilled to partner with NY2LA Sports in growing the youth sports scene in North Texas,” said Dallas Stars President and CEO Brad Alberts. “NY2LA Sports is the best at what they do—running and organizing youth and high school-age basketball leagues and tournaments. This partnership puts a premier brand behind our new multisport facilities and will give children an opportunity to develop and compete on the biggest stages within the DFW market. The demand for youth sports in North Texas continues to grow and we are proud to provide outstanding facilities for these kids to train and compete.”
The Stars are building a $20 million multisport youth facility in Farmers Branch and own The MAC, a basketball and volleyball venue, in Lewisville. The Farmers Branch facility is slated to open in December and is expected to serve more than 50,000 athletes per year and provide up to eight basketball courts or 16 volleyball courts.
“NY2LA Sports is extremely excited to be partnering with the Dallas Stars organization, bringing new energy and enthusiasm around the basketball world in the Texas communities and the surrounding states,” said Co-Owner of NY2LA Sports Jeremy McGlothlin.
Notable NY2LA youth league alums include Jayson Tatum, Tyrese Haliburton, Tyler Herro, Chet Holmgren, Brandin Podziemski, Jalen Suggs, Jalen Johnson, Jalen Brunson, Shai Gilgeous-Alexander, Myles Turner, Kevon Looney, D’Angelo Russell, Max Christie, Jordan Poole, Bradley Beal, Anthony Black, Jevon Carter, Ayo Dosunmu and Patrick Baldwin Jr., among others.
Harbor Secures $3.7 Million Seed Round
Infant care technology startup Harbor, co-founded by Mizzen + Main founder Kevin Lavelle, has secured a $3.7 million seed round led by capital firms Trust Ventures, Morrison Seger, and Capital Factory. Other notable seed investors include Tim and Demi-Leigh Tebow, John and Madison Isner, Thomas and Lauren Morstead, and entrepreneurs Sam and Sara Sodine Parr.
“This investment helps us launch to the world. Our mission is to create happier parents and healthier families, one restful night at a time. We’re democratizing access to sleep expertise and improving family wellness,” co-founder Kevin Lavelle said. “Technology should make our lives better. Today’s solutions increase anxiety in an already overwhelming and difficult time where we should be able to focus on our little ones. Parents and kids deserve a secure, reliable, quality baby monitor, and since none exist, Harbor has built just that.”
UpSmith Raises $5 Million, Launches New Product
Dallas-based startup UpSmith has raised $5 million in capital led by Hannah Grey VC, with participation from a16z, GSV Ventures, Asymmetric Capital Partners, Cubit Capital, and more. UpSmith is a tech startup focused on addressing labor shortages through its software designed to maximize workforce productivity.
In addition to the capital raise, the company has unveiled its new product, Boost, a software platform for workforce productivity. Boost’s technology analyzes job data in real-time to increase profit. The platform also utilizes task rewards and measures employee progress.
“Skilled trades businesses are struggling to overcome workforce shortages,” said UpSmith Founder and CEO Wyatt Smith. “We designed Boost to help them win while creating meaningfully better worker experiences in the process. This is an initial step in a much larger journey for supporting builders who have been historically underserved by technology.”
Boost was created in response to labor shortages after the Bureau of Labor Statistics reported over 1 million openings in U.S. construction and manufacturing sectors in November 2023. UpSmith created the platform for trade companies to expand its networks, improve output, and lower costs to combat the skilled worker shortage.
“Skilled trades businesses are struggling to overcome workforce shortages. The future of work and craftsmanship will be technology-driven,” said Kate Beardsley of Hannah Grey VC. “UpSmith addresses the opportunity through skilled trades pathways, creating workforce opportunities for a new generation of digitally native builders. We are thrilled to invest in their mission.”
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