Vival Capital announces a $250M fund to spur growth in healthcare, sports, and industrial sectors in emerging U.S. cities, with $150M already secured in initial investments.
Las Vegas, Nevada, Aug. 13, 2024 (GLOBE NEWSWIRE) — Vival Capital Management, LP, a multi-strategy hedge fund, announces the launch of its $250 million Emerging Cities Fund I, targeting public equities and startups that drive business ecosystem growth in emerging cities. With a focus on healthcare technology, sports, and industrials, Vival plans to invest in up to 30 companies over the next few years and is seeing strong value from early investments. The new firm has already secured $150 million in funding.
Vival Capital
“I am thrilled to introduce Vival Capital Management,” said Stephen N. Lackey, Founder and Managing Partner, whose background includes managing over a billion dollars in family office and government infrastructure investments.
Stephen N. Lackey, Founder and Managing Partner, Vival Capital
The fund is backed by several family offices, a hospitality-focused pension fund, and institutional investors like the Alaska Permanent Fund Corporation. Emerging Cities Fund I will be capped at $250 million and is on track to reach that number by the fourth quarter of this year, with a second, half-billion-dollar fund launching soon thereafter.
Vival, derived from the word “revival,” is Lackey’s answer to growing demand from fellow investors seeking to align with his successful “total ecosystem model.” This approach focuses on investing in companies that deliver solid financial returns while also contributing to the broader development and capabilities of their headquarters city.
“We’re seeding new business and social ecosystems in places like Las Vegas, where we have been immensely successful, and in cities in the Southwest and Gulf Coast,” stated Lackey. “Over the last decade, Vegas has emerged as a sports and industrial hub, with adjacent industries like tech, healthcare, and film interplaying in town. As the city has grown, so has our success investing in it. Vival knows where the next ecosystems are forming. We are uniquely positioned to foresee economic impacts and accurately forecast investments that transform a good city into a great one and provide significant returns for investors.”
Lackey, who is African American, also highlights the importance of his entry into the hedge fund space as important to his community and to the future of finance professionals of color.
“I am here to win,” Lackey said at a launch event in Las Vegas. “As we continue to meet our funding targets and prepare for future opportunities, Vival Capital Management is committed to driving growth in emerging cities which translates into big wins for our investors and the community.
CONTACT: Media Contact: Leah Johnson Vival Capital ir@vivalcapital.com