Sweetwater Private Equity is a boutique private equity firm headquartered in Encinitas, California, specializing in single-asset direct secondary transactions and private market liquidity solutions for General Partners. Founded in 2016, the firm focuses on secondary investments in buyout and growth-stage companies across healthcare, technology, and consumer sectors.
60% of their portfolio is in Enterprise Software. Their most common stage is series-d (40% of deals). Average disclosed round size is $220.3M (across 10 rounds with reported amounts).
Portfolio
4
Fund Size
$505M
Top Stage
Series D
Last 12 Mo
0
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
10 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Rippling | Series G | $450M | May 2025 |
| Rippling | Series F | $200M | Apr 2024 |
| Rippling | Series C | $250M | Mar 2023 |
| Rippling | Series D | $250M | May 2022 |
| Rippling | Series C | $250M | Oct 2021 |
 Apeel Sciences | Series E | $250M | Aug 2021 |
 Engage3 | Series D | $35M | Jan 2021 |
| Apeel Sciences | Series D | $250M | May 2020 |
| Apeel Sciences | Series D | $250M | Jan 2020 |
 Faction | Series B | $18M | Mar 2018 |
Top Co-Investors
Y Combinator3 shared
Andreessen Horowitz2 shared
Sands Capital2 shared
Baillie Gifford2 shared
Ansa2 shared
GIC Private Limited1 shared
Tao Capital Partners1 shared
K31 shared
Mirae Asset1 shared
Viking Global Investors1 shared
Almanac Insights1 shared
Disruptive1 shared
CAA1 shared
Generate Capital1 shared
RC Capital1 shared
Calm Ventures1 shared
Dell Technologies Capital1 shared
Last updated: 8 November 2026