Arrowroot Capital Aims To Raise $175M In Third Investment Fund

Santa Monica-based Arrowroot Capital, an investment firm focused on investing growth equity in growing software-as-a-service and internet-based businesses, has launched an effort to raise $175M in its third fund, Arrowroot Capital III, LP. The firm, led by managing director Matthew J. Safaii, has made investments in such companies as 4tell, Agilence, EiQ, Embotics, Evergage, Icix, MedNet, ServiceAide, and ZiftSolutions. The firm's second fund closed at the end of 2015, and was worth $50M. The company joins an increasingly long list of investors with new funds invested in Southern California's growing technology sector.