Private equity investment group Alternative Wealth Partners has launched fundraising efforts for a second fund, AWP Diversity Fund II, with a goal to raise and invest $150 million. The firm’s founder and CEO Kelly Ann Winget aims to deliver double-digit returns on the group’s investments into energy, manufacturing, real estate, and infrastructure projects.
AWP’s inaugural fund generated annualized investment returns exceeding 30 percent, inclusive of tax benefits. “Over the next three years, Alternative Wealth Partners anticipates significant opportunities to acquire strong, resilient businesses and properties across diverse industries at a discount due to market volatility and geopolitical unrest,” Winget said. “We have strategically positioned our investments to capitalize on these opportunities and expand our portfolio further to meet the growing capital demands from investors looking for non-correlated opportunities and businesses in search of strategic partners.”
Winget is the only LGBTQ+ female millennial to run a private equity fund focused on alternatives—assets outside of stocks, bonds, or cash, such as real estate, commodities, and private equity. Her company generates an average targeted annual return of 30 percent.
The fund will prioritize investments in domestically-rooted businesses and properties with revenues between $1 million and $10 million that are potentially poised to triple the initial investment. AWP has already identified energy, manufacturing, infrastructure, and growth-stage tech opportunities. Beyond asset-level returns, the fund will leverage various tax incentives projected to add to the portfolio’s overall return by 10 percent to 30 percent.
“I believe there are going to be huge opportunities for creative capital to shine in the small to midsize business arena,” Winget said. “Our strategy is focused on improving dated industries through infrastructure improvements, manufacturing and supply chain improvements, and energy projects. All of our targeted acquisitions include unique real estate and commodities opportunities. We believe there has been so much innovation of intangible technology in the world but not enough investment and innovation in the infrastructure needed to support it. We need massive power through cheap energy, space and materials to build better hardware, and scalable systems to support the growing consumer demand for products.”
AWP plans to participate in both existing portfolio investments and new opportunities. The AWP Diversity Fund II will acquire assets held by AWP Diversity Fund I at market value. These assets are projected to continue to appreciate the longer they are held, and AWP seeks to retain these assets in the new fund for an extended period. The fund’s 2024 project pipeline includes a kinetics company, a battery tech company, and an equipment company, each with a projected 500 percent return on investment.
Companies within AWP’s portfolio include Blue Mountain Best Coffee, a Jamaican coffee company with more than 20 years of agricultural partnerships; Expansion Ammunition, a Texas-based ammunition company with a unique way of manufacturing casings; Ellevest, an investment platform that targets women and has more than $1.5 billion in AUM; and Pontem Energy Group, a Houston-based company with more than 200 assets in the Permian Basin.
Parking Tech Company ParkHub Merges with U.K.-Based JustPark
Parking management software and payments solutions provider ParkHub is combining businesses with JustPark, a U.K. app-based parking reservations technology and payments platform. The partnership extends ParkHub’s tech for users in the U.K. As part of the agreement, ParkHub secured a growth investment led by FTV Capital and investor LLR Partners.
“We are excited to invest in JustPark’s vision to provide the world’s best parking experiences and look forward to leveraging the combined company’s capabilities for our marquee customers across North America and the U.K.,” ParkHub CEO Jeff Shanahan said. “Having successfully worked with FTV in the past, I’m confident that their track record and extensive expertise within the vertical software and payments space make them the ultimate value-add partner to complement LLR as we chart this next phase of growth.”
Combined, ParkHub and JustPark serve more than 20 million users and more than 500 business-to-business customers, representing more than $1 billion in booking volume.
Spark Spot Acquires Land for EV Charging Station in Carrollton
Electric vehicle charging company Spark Spot has acquired land to develop an EV charging station in Carrollton. The newly acquired land is in the H-Mart Shopping Center parking lot on the corner of East Trinity Mills Road and Old Denton Road of Carrollton.
“Spark Spot is thrilled to ignite excitement with the acquisition of land for our upcoming EV Charging Station in Carrollton,” Director of Operations Shaun Hernandez said. “As champions of sustainable mobility, we are dedicated to empowering drivers with convenient, reliable, and efficient charging solutions. This new station will serve as a beacon of progress, driving positive change and inspiring communities to embrace the electric vehicle revolution.”
Midwest Pizza Chain Donatos Expands to DFW with 20 Locations
Through four local franchising groups, pizza chain Donatos Pizza is expanding into Texas, starting with up to 20 locations in the DFW area. Numerous territories are still available for potential franchise partners across the state and DFW has the potential to have over 50 locations.
“We are excited to bring Donatos to the vibrant state of Texas, beginning with the Dallas-Fort Worth area,” VP of franchise development Jeff Baldwin said. “Our expansion is not just about introducing a new premium pizza; it is about creating a lasting connection with the community and giving back. With four dedicated franchise groups leading the way, and room for growth, we look forward to sharing Donatos Pizza with the Lone Star State.”
Donatos Pizza was founded in 1963 and has over 460 locations across 29 states, including 179 traditional Donatos restaurants. Donatos’ products are also served in 287 non-traditional locations (274 locations within Red Robins, nine sports and entertainment venues, and four REEF Kitchens).
“Bringing Donatos to Dallas-Fort Worth is a historic milestone for us as we begin this exciting journey to expand the brand into Texas,” President Kevin King said. “We are looking to have yet another successful year in 2024, and this growth into Texas is just the beginning. We look forward to becoming an integral part of the DFW community through our promise to serve the best pizza and make your day a little better.”
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