Tritium Partners raises $25M after investing in Utah tech company

Aug 20, 2014
Austin Business Journal

Tritium Partners LLC has raised $24.5 million related to its majority investment in a Utah-based technology company

Tritium, an Austin private equity firm, formed an investment vehicle, Access Technology Holdings LLC, to complete the acquisition of a majority stake in Access Technology Solutions Inc. The total amount of the majority investment was not disclosed. Tritium collected the capital from four investors, according to a Tuesday filing with the U.S. Securities and Exchange Commission

Access Technology Solutions, founded in 2002, is a developer of foreign e-commerce technology that claims as customers more than 75 merchants and has fulfilled more than 6 million cross-border transactions

Tritium Managing Partner David Lack, previously a partner for Austin Ventures LP, told Austin Business Journal that two other institutional investors participated in the deal — the StepStone Group Inc. and Ocean Avenue Capital Partners

Tritium, founded in 1999, invests in three broad sectors: Internet, information and media companies, supply chain and logistics, business and financial services. Investments include Austin-based HomeAway Inc. (Nasdaq: AWAY) and RetailMeNot Inc. (Nasdaq: SALE), according to the firm's website

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