Boston’s private equity scene has a new name to watch.
Eterna Growth Partners has officially spun out from Charlesbank Capital Partners, stepping into the spotlight as an independent firm dedicated to middle-market technology investments.
What was once Charlesbank’s Technology Opportunities Fund (TOF) strategy is now a standalone entity, rebranded and ready to continue its mission of backing innovative tech companies.
Continuing the Legacy with a Focused Strategy
Even as an independent firm, Eterna isn’t hitting the reset button.
The firm will manage all existing TOF funds while building out its own private equity platform.
Its investment focus remains on mission-critical technology and tech-enabled businesses, spanning sectors such as application software, cloud computing, cybersecurity, fintech, healthcare IT, and infrastructure software.
Eterna prides itself on partnering closely with management teams to drive long-term growth.
The firm employs a disciplined, control-oriented approach, typically targeting companies with enterprise values between $50 million and $400 million.
Leadership Team Brings Continuity
The transition to independence hasn’t shaken the team.
Eterna is led by Managing Directors Darren Battistoni and Hiren Mankodi, alongside Mayur Desai, Bhuvan Jain, Dhruva Kaul, and Michael Zirngibl.
Every member of the investment team, including eight dedicated operating professionals, has moved over from Charlesbank.
This ensures continuity for portfolio companies, investors, and long-standing partners—making it a smooth evolution rather than a disruptive change.
A Growing Track Record
Since its inception, the team has invested in 19 companies, establishing a track record of selecting high-potential tech businesses.
With the new platform in place, Eterna is well-positioned to scale its investment efforts and deepen its impact across the middle-market technology space.
Charlesbank’s Continued Role in Private Equity
Charlesbank Capital Partners, founded in 1998, remains a major force in middle-market private equity with roughly $24 billion in assets under management as of September 30, 2025.
The firm invests across sectors including business and consumer services, healthcare, industrials, and technology infrastructure.
With offices in Boston and New York, Charlesbank continues to provide flexible capital solutions through complementary private equity and credit strategies, leveraging its platform, resources, and networks.
Looking Ahead
Eterna Growth Partners is now charting its own path, with an experienced team, a solid portfolio, and a clear focus on technology-driven growth.
Investors and industry watchers alike will be keeping a close eye on how this independent firm leverages its expertise to identify opportunities and create value in the rapidly evolving tech market.
