HCAP Partners has held a final closing of HCAP Partners IV LP at its hard cap with total commitments of $150 million. The new fund, which operates as an SBIC, was also oversubscribed.
Limited partners in Fund IV include both existing investors from previous funds and new investors including foundations, family offices, and financial institutions.
HCAP is a provider of mezzanine and equity capital to lower middle-market companies throughout California and the Western United States. The firm invests from $2 million to $15 million in businesses generating between $10 million and $100 million in revenues. Sectors of interest include healthcare, software, services, and manufacturing. HCAP has invested in over 40 companies since its founding in 2000.
“Fund IV will allow us to continue investing in underserved, growth-stage companies in the technology, healthcare, services, and manufacturing industries that will benefit not only from our capital but also from our Gainful Jobs Approach™ and strategic value-added resources,” said Tim Bubnack, managing partner. “We credit our success to our experienced team and focused investment strategy, and we thank our limited partners for their continuing support and commitment to our firm.” HCAP’s Gainful Jobs Approach is a program designed to improve job quality standards across its portfolio and includes economic opportunities for employees and health and wellness plans.
HCAP is headquartered in San Diego and is led by Partners Tim Bubnack and Frank Mora, and Principals Nicolas Lopez and Hope Mago (www.hcapllc.com).
© 2019 Private Equity Professional | July 31, 2019