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Escalate Capital holds first close at $282M

Escalate Capital Partners held a first close of Escalate Capital IV LP at $282 million in capital commitments, vcaonline.com reported.

Investors included JP Morgan Asset Management, University of Texas Investment Management Co., Bespoke Private Strategies, Cadence Bank and Regions Bank.

Escalate Capital's fourth vehicle, which has a $290 million hard cap, will lend to U.S. venture and growth capital-backed companies in the technology, services and healthcare sectors. Additionally, it will place $1 million to $2 million in existing fund portfolio companies to finance their growth.

Escalate Capital also announced personnel changes. The firm hired Travis Wood as a director and Brendan Scher as an associate, while Chris Hall was promoted to principal.

Wood joined the Austin, Texas-based firm after 20 years at Silicon Valley Bank.