Eterna Growth Partners Completes Spinout of the Technology Opportunities Strategy from Charlesbank

•Charlesbank Technology Opportunities team and funds finalize legal separation and rebrand as Eterna Growth Partners
•Newly independent firm will continue to manage its two private equity funds with $2.3B of total committed capital and 19 portfolio companies.

Boston, MA (February 3, 2026) — Eterna Growth Partners (“Eterna”) announced the completion of its spinout from Charlesbank Capital Partners, effective immediately. Formerly operated as Charlesbank’s dedicated Technology Opportunities Fund (“TOF”) strategy, the newly independent and rebranded firm will continue to manage all existing TOF funds while operating as a standalone private equity platform focused on middle-market technology investments. The launch follows a deliberate, collaborative process over the past year, building on the TOF strategy that has raised two dedicated funds and completed 19 investments over the past eight years within Charlesbank.

Eterna brings its established approach of investing in mission-critical technology and technology-enabled businesses with meaningful growth opportunities within its target sectors. The firm partners closely with management teams to support long-term value creation, maintaining a disciplined, control-oriented investment strategy focused on companies with enterprise values ranging from $50 million to $400 million.

The new firm is led by Managing Directors Darren Battistoni and Hiren Mankodi, alongside fellow Managing Directors Mayur Desai, Bhuvan Jain, Dhruva Kaul and Michael Zirngibl. These six executives have been investing together for nearly a decade, forming a cohesive leadership team with a shared investment philosophy. All members of the investment team, including eight dedicated operating professionals, have transitioned to Eterna, ensuring continuity for portfolio companies, investors and long-standing partners.

“Spinning out as an independent firm is a natural next step in the evolution of our platform,” said** Darren Battistoni, Managing Director of Eterna**. “Our team has built a differentiated technology investment strategy grounded in deep sector expertise, thematic sourcing and operational partnership.”

“Operating independently allows us to bring even greater clarity and focus to that mission while remaining a trusted, long-term partner to the companies we support,” said Hiren Manodki, Managing Director of Eterna.

“We are incredibly proud of the work our teams accomplished together in building the Technology Opportunities strategy and its first two funds, which laid a strong foundation for Eterna,” said Michael Choe, Chief Executive Officer at Charlesbank. “This milestone reflects a well-considered step, shaped through our close collaboration over the past year. We look forward to maintaining our relationship as the Eterna team enters its next chapter, while Charlesbank continues to invest with conviction across our Technology and Technology Infrastructure vertical.”

To date, Eterna has invested in 19 companies across application software, cloud computing, cybersecurity, financial technology, healthcare IT and infrastructure software. TOF II remains well positioned with meaningful dry powder and continues to actively pursue new investments. Eterna will maintain offices in Boston.

Eterna was advised by Sidley Austin LLP, and Charlesbank was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, in connection with the transaction.