BOSTON, January 17, 2025 – Proskauer, a leading international law firm, announced today that it advised Cohere Capital Partners ("Cohere") on the closing of Cohere Capital Fund II ("Fund II") with more than $215 million in commitments. The Firm also advised Cohere in connection with a strategic minority investment from global alternative asset management firm TPG through its TPG NEXT platform.
Cohere is a Boston-based private equity firm founded in 2019 by Nik Shah and Daniel Gedney to focus on investing in leading tech-enabled lower middle market companies across the IT services, cloud consulting, digital advertising and marketing, e-commerce, and consumer engagement and loyalty services sectors. With Fund II, Cohere will continue to invest across these markets and others, seeking to partner with leading founder- and management-owned businesses to help drive success and growth.
TPG NEXT provides strategic minority capital and custom operational support to help emerging managers establish and grow their firms. Through its partnership with TPG NEXT, Cohere will gain access to TPG's network, operational and investment capabilities and ecosystem to support strategic business building and expansion, including areas such as capital formation, investment sourcing and diligence.
The Proskauer team advising Cohere on these transactions was led by partners Ryan Carpenter, Scott Jones and Howard Beber (Private Funds) and partner Steven Peck (M&A) and included associates Elise Brown, Brendan Conroy and Kyle Litfin (Private Funds); associates Timothy Kim and John Sedarous (M&A); and partner David Teigman and associate Heather Monte (EBEC).