Investment startup enters second funding round

Six months after capping off its first $10 million real estate fund, a local investment startup is pushing for a second, larger round of funding.

Haxall Point Partners, a spin-off of Canal Capital Management, looks to raise up to $35 million from investors in a new pooled fund, according to SEC documents filed last month. The filing was signed in May, as well as the fund’s first sale.   

Noah Greenbaum

Noah Greenbaum

Created by Canal Capital founders Noah Greenbaum and Neil Gilliss, Haxall Point Partners aims to co-invest with real estate owners and operators mostly around the Mid-Atlantic and Southeast. It looks to either take ownership stakes in properties or be an extra equity partner to a buyer.

Working out of Canal Capital’s office at 1401 E. Cary St. in Shockoe Bottom, Haxall Point Partners previously raised $10 million from about 40 investors in a round that closed in January.

Greenbaum declined to comment on the filing until the new offering has concluded. He did not say when the fund, named Haxall Point Income Fund II, would close out.

The new fund had raised $1.02 million by the time it was filed, according to SEC documents.

The $35 million target serves as an initial cap that may or may not be reached. The first fund, Haxall Point Income Fund I, raised $10 million out of a maximum $25 million offering amount.

Craig Truitt

Craig Truitt

While its initial fund was less ambitious in its maximum offering, Haxall Point Partners is requiring a lower minimum investment – $50,000 per investor – for this round. The previous investment round had a $100,000 minimum.

In addition to Greenbaum and Gilliss, Canal Capital partner Craig Truitt also signed the Form D for Haxall Point Income Fund II. Truitt was previously with Richmond-based Private Advisors and joined Canal Capital to help manage Haxall Point Partners.

Six months after capping off its first $10 million real estate fund, a local investment startup is pushing for a second, larger round of funding.

Haxall Point Partners, a spin-off of Canal Capital Management, looks to raise up to $35 million from investors in a new pooled fund, according to SEC documents filed last month. The filing was signed in May, as well as the fund’s first sale.   

Noah Greenbaum

Noah Greenbaum

Created by Canal Capital founders Noah Greenbaum and Neil Gilliss, Haxall Point Partners aims to co-invest with real estate owners and operators mostly around the Mid-Atlantic and Southeast. It looks to either take ownership stakes in properties or be an extra equity partner to a buyer.

Working out of Canal Capital’s office at 1401 E. Cary St. in Shockoe Bottom, Haxall Point Partners previously raised $10 million from about 40 investors in a round that closed in January.

Greenbaum declined to comment on the filing until the new offering has concluded. He did not say when the fund, named Haxall Point Income Fund II, would close out.

The new fund had raised $1.02 million by the time it was filed, according to SEC documents.

The $35 million target serves as an initial cap that may or may not be reached. The first fund, Haxall Point Income Fund I, raised $10 million out of a maximum $25 million offering amount.

Craig Truitt

Craig Truitt

While its initial fund was less ambitious in its maximum offering, Haxall Point Partners is requiring a lower minimum investment – $50,000 per investor – for this round. The previous investment round had a $100,000 minimum.

In addition to Greenbaum and Gilliss, Canal Capital partner Craig Truitt also signed the Form D for Haxall Point Income Fund II. Truitt was previously with Richmond-based Private Advisors and joined Canal Capital to help manage Haxall Point Partners.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments