Investment Summary

Battery Ventures Invests In Cross River Bank

On November 1, 2016, private equity firm Battery Ventures invested in internet software and services company Cross River Bank

Investment Highlights
  • This is Battery Ventures’ 13th transaction in the Internet Software and Services sector.
  • This is Battery Ventures’ 54th transaction in the United States.
  • This is Battery Ventures’ 2nd transaction in New Jersey.

Investment Summary
Date 2016-11-01
Target Cross River Bank
Sector Internet Software and Services
Investor(s) Battery Ventures
Deal Type Growth Capital

Target

Cross River Bank

Fort Lee, New Jersey, United States
Cross River Bank is a provider of API-based banking platform and comprehensive suite of products encompassing lending, payments, risk management and Banking-as-a-Service (BaaS) offerings to deliver responsible financial solutions that empower businesses and consumers anytime, anywhere. Cross River Bank was founded in 2008 and is based in Fort Lee, New Jersey.

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Investor(S) 1

Investor

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.

DEAL STATS #
Overall 66 of 116
Sector (Internet Software and Services) 13 of 21
Type (Growth Capital) 23 of 36
State (New Jersey) 2 of 2
Country (United States) 54 of 77
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-21 Clubessential

Cincinnati, Ohio, United States

Clubessential provides a full suite of membership and club management solutions to country, golf, city, yacht, and other private clubs. Clubessential was founded in 1998 and is based in Cincinnati, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 PST

Ely, United Kingdom

PST is a provider of measurement instrumentation and monitoring solutions for process-critical applications worldwide. With 12 leading brands, PST offers a comprehensive suite of proprietary sensors, instruments, analyzers, and monitoring solutions with sensing capabilities across parameters, including moisture, gas, level, and flow. PST was founded in 1964 and is based in Ely, Cambridgeshire.

Buy -
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