Cross Creek

Cross Creek, headquartered in Salt Lake City, Utah, is a prominent growth equity firm specializing in later-stage private technology companies. The firm employs a distinctive dual investment strategy, deploying capital directly into high-growth private companies while also acting as a significant limited partner in leading venture capital funds. This hybrid approach allows Cross Creek to gain exposure to a broad spectrum of innovation, from direct stakes in promising startups to diversified access through top-tier VC portfolios. Their focus is primarily on established companies demonstrating strong market traction and clear paths to liquidity.

The firm targets companies that are typically beyond the early-stage venture phase, often participating in Series C, D, or later rounds. Cross Creek seeks out businesses with proven business models, substantial revenue, and scalable operations, aiming to support their continued expansion and prepare them for eventual public offerings or strategic acquisitions. Their direct investment thesis centers on identifying market leaders or disruptors within various technology sectors, including enterprise software, fintech, cybersecurity, and consumer internet. The fund-of-funds strategy complements this by providing exposure to emerging trends and early-stage opportunities through partnerships with top-performing venture capital firms globally.

Cross Creek has demonstrated significant fundraising success, reflecting its established reputation and investment acumen. In 2021, the firm successfully closed its latest fund, raising an impressive $1.1 billion. This capital was strategically allocated, with $600 million designated for direct investments into private companies and $500 million committed to its fund-of-funds strategy. For its direct investments, Cross Creek typically writes first checks ranging from approximately $10 million to $50 million, participating in larger growth rounds. This substantial capital base allows them to make meaningful contributions to the growth trajectories of their portfolio companies.

Beyond capital, Cross Creek aims to provide strategic support to its portfolio companies, leveraging its extensive network and deep industry expertise. Their long-standing relationships within the venture capital ecosystem, cultivated through their fund-of-funds activities, also provide unique insights and co-investment opportunities. This positions Cross Creek as a sophisticated partner for later-stage companies seeking not just funding, but also guidance in navigating complex growth challenges and preparing for future liquidity events. Their consistent fundraising and focus on established tech companies underscore their significant presence in the growth equity landscape.