About This Fund
Rallyday Partners Fund II LP is the successor vehicle of Rallyday Partners, LLC, the Denver, Colorado-based private equity firm recognized for its alignment-first approach to lower middle market growth equity investing. Fund II closed at $205 million in April 2022, exceeding its $200 million target through an oversubscribed fundraise that attracted commitments from ten institutional limited partners—including university endowments, foundations, and mission-oriented family offices.
Building on Fund I, which made five platform investments and dozens of add-on acquisitions after closing at $153 million in 2020, Fund II expanded both the capital base and the investment mandate. Where Fund I concentrated on healthcare services, education and training, and IT services, Fund II adopted a sector-agnostic approach to investing in lower middle market companies with compelling secular trends, disruptive business models, and founder-driven leadership. Target investment size is $20 million to $50 million in companies with $1 million to $10 million of EBITDA across the United States.
Rallyday Partners continues to operate with the structural hallmarks introduced in Fund I: substantial GP co-investment well above industry norms, and fee arrangements structured around annual LP-approved budgets rather than fixed management fee percentages. Greenberg Traurig LLP served as legal counsel, E78 Partners as fund administrator, and Pacenote Capital LLC as placement agent for the Fund II fundraise. This disciplined, investor-aligned approach has enabled Rallyday to consistently attract mission-consistent institutional capital from endowments and foundations outside the major financial centers.