WAYNE, PA – February 27, 2024 – Renovus Capital Partners (“Renovus”), a Philadelphia-area buyout firm focused on founder-owned businesses in the Knowledge & Talent industries, announced today that it has closed its first multi-asset continuation fund (“Renovus Continuation Fund” or “CV”) of approximately $325 million. With the closing of the CV, Renovus has now raised over $1.5 billion of capital across multiple investment vehicles, marking a new milestone for the firm. The new fund was formed to recapitalize four portfolio companies from Renovus Capital Partners, LP (“Fund I”) and Renovus Capital Partners II, LP (“Fund II”). In addition, the Renovus Continuation Fund makes available an incremental $60 million of capital to fund strategic acquisitions for the CV portfolio companies. The formation and funding of the Renovus Continuation Fund was anchored by leading limited partners including funds managed by New 2ND Capital, RCP Advisors, Blackstone Strategic Partners, Montana Capital Partners, Unigestion, Arcano Partners and significant rollover from the three Renovus co-founders.

The four companies in the Renovus Continuation Fund (“CV Portfolio”) include:

  • Aretum – a Maryland and Virginia based technology and specialized services provider to 20+ federal civilian and military government agencies formed from the merger of Panum, a Renovus portfolio company, and Miracle Systems. For more information, please visit;
  • ClinicalMind – a New York based full-service medical communication company specializing in scientific content development, strategic communications and technology solutions engaged by leading life sciences companies to help educate healthcare professionals about new and existing drugs. For more information, please visit;
  • Lockstep Technology Group – a Georgia based technology services company providing mission critical technology infrastructure, cloud solutions and IT management consulting to education, governmental and medical entities in the Southeastern U.S. For more information, please visit; and
  • Phoenix East Aviation – a Florida based FAA certified pilot training school serving domestic and international students seeking to become commercial airline pilots. For more information, please visit

The transaction enabled Renovus’ existing limited partners to realize significant gains with an opportunity to continue participating in the go-forward value creation. As a show of confidence in the CV, the Renovus’ founders are reinvesting the entirety of their capital investment and committing additional new capital to the Renovus Continuation Fund.

“The successful establishment of the Renovus Continuation Fund marks another significant milestone for Renovus as a firm,” said Atif Gilani, Founding Partner at Renovus. “The commitments that the CV received from top-tier investors validate our investment strategy and the strength of our portfolio. At the same time, the CV was approved unanimously by existing LPs, a strong vote of confidence in our work for them to date.”

Tjarko Hektor, the lead partner from New 2ND Capital, commented on the transaction, “We are delighted to form this long-term partnership with Renovus and are excited for what the future has in store as the firm continues to build on its commitment to its business and doing well for investors.”

Founding Partners Brad Whitman and Jesse Serventi added, “Renovus has meaningfully grown the companies in the CV portfolio since our original investment, and we are proud of their performance. With this infusion of new capital, we look forward to continuing to build them, further prove out our investment theses and deliver superior outcomes for all our stakeholders.”

Jefferies served as exclusive financial advisor through the partnership of its Private Capital Advisory and industry focused investment banking teams, with DLA Piper serving as Renovus’ legal counsel.

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