Long Ridge raises $730m for fintech, business software deals

Long Ridge Equity Partners raised $730 million for its fourth fund focused on the fintech and enterprise software sectors, the growth-investment firm announced Monday.

Driving the news: The fund, some 64% larger than Long Ridge's last, comes amid a broader industry slowdown.

Details: An investor in digital identity company AuthenticID and foreign exchange business Broadway Technology, Long Ridge generally seeks companies with at least $5 million in run-rate revenue.

• It writes checks ranging from $20 million to $100 million.
• In 2021, the company exited a minority stake in Carson Group, which serves financial advisers, in a deal valuing the business at over $1 billion.
• In 2016, Long Ridge led a $35 million investment in Carson Group.