Bridge Growth Partners, a technology investment firm, announced the successful closing of a single-asset continuation vehicle, securing US$790 million (C$1.1 billion) in commitments for its portfolio company Solace, a real-time data and agentic AI platform designed for enterprise AI applications.
The transaction was co-led by Apogem Capital, Golub Capital, HSBC Asset Management, and Schroders Capital. Bridge Growth Partners III, the firm’s latest flagship fund, also participated, marking its inaugural investment through this transaction. Following the closing, Bridge Growth will hold over 15% of Solace’s total equity, which includes the rollover from its General Partner and affiliates, alongside the new investment. The Healthcare of Ontario Pension Plan (HOOPP), a current minority investor in Solace, also rolled its existing equity position into the new vehicle.
As enterprises globally increase their investment in operationalizing artificial intelligence, the demand for robust real-time data infrastructure has become essential. Solace operates at this crucial intersection, providing capabilities that enable large organizations to move trusted data continuously across diverse applications, AI agents, and various cloud environments. Its customer base includes prominent leaders in financial services, retail, manufacturing, transportation, and the public sector. Bridge Growth Partners initially made a control investment in Solace in 2016, and this continuation vehicle extends that relationship.
Alok Singh, CEO of Bridge Growth Partners, commented on the development, stating, “Solace is well-positioned for accelerated expansion as it helps enterprises capitalize on the transformative use of real-time data as a foundation to realize the potential of AI. Today’s milestone reflects Bridge Growth’s disciplined investment strategy focused on building enduring technology businesses.” Singh also welcomed the new investors, highlighting Apogem Capital’s long-standing relationship and role as a lead arranger.
Denis King, Chief Executive Officer of Solace, remarked on the partnership, “Partnering with Bridge Growth, we’ve grown into a true market leader at the forefront of enabling leading global enterprises to connect everything and operate in real time.” He expressed enthusiasm for continuing the journey with Bridge Growth and the new global institutional investors, affirming the company’s readiness to scale as an innovation leader as real-time data becomes foundational for AI agents and enterprise applications.
Stanley Xu, Managing Director of Apogem Capital, praised Solace’s evolution: “We have been highly impressed by Solace’s growth and transformation under Bridge Growth’s guidance, leadership, and ownership.” Greg Cashman, Co-Head of Sponsor Finance at Golub Capital, noted that this transaction represents the first co-lead investment in Golub Capital’s GP-Led Secondaries strategy, leveraging its experience in mission-critical software.
Kutty Dutta, Head of Private Markets at HSBC Asset Management, emphasized the market trend: “Enterprises are increasingly prioritizing real-time data infrastructure, a trend further accelerated by agentic AI’s need for real-time contextual data. Solace’s platform is well-positioned to benefit from this trend.” David Guryn, Senior Investment Director, Private Equity at Schroders Capital, added that “As enterprises increasingly prioritize event-driven architecture, we are excited to partner with Bridge Growth to build on Solace’s momentum as a market leader in real-time data infrastructure.”
Since launching Fund I in 2014, Bridge Growth has invested approximately $1 billion in equity, including contributions from co-investor partners, and has returned $2 billion to investors. Following this continuation vehicle transaction, Bridge Growth Funds I and II will be liquidated. Campbell Lutyens and J.
P. Morgan served as financial advisors, and Willkie Farr & Gallagher LLP acted as legal advisor to Bridge Growth Partners for the transaction.
