Insignia Capital Group has closed its third fund, Insignia Capital Partners III LP, with over $500 million in capital commitments. The new fund surpassed its $375 million target and closed at its hard cap.
Limited partners in Fund III include both returning limited partners and a select group of new investors. Insignia’s second fund closed in 2021 with $400 million in capital, and its inaugural fund closed in 2016 with $358 million in capital.
“Achieving this outcome in a challenging fundraising environment is a privilege and an affirmation of our strategy and the trust our limited partners place in us,” said David Lowe, a managing partner at Insignia.
Insignia Capitalmakes both control and influential minority equity investments of $20 million to $100 million in lower middle-market companies that have at least $20 million of revenue and $5 million of EBITDA. Sectors of interest include business and tech-enabled services companies, and consumer brands and products.
Last month, Insignia made an investment in Tidal Financial Group, a New York City-headquartered provider of ETF (exchange traded fund) infrastructure and advisory services to asset managers launching and scaling ETFs. As of September 2025, Tidal supports over 270 ETFs with $45 billion in assets under management and launched 89 new ETFs in 2025 alone.
“Closing the fund is only the beginning—we recognize the significant responsibility we have to the foundations, endowments, pension plans and investors that have entrusted us to deliver strong performance on behalf of their beneficiaries,” said Tony Broglio, a managing partner at Insignia.
M2O Private Fund Advisors was the placement agent for this fundraise, and Kirkland & Ellis provided legal services.
Insignia was founded in 2011 and is headquartered near San Francisco in Walnut Creek, California.
© 2025 Private Equity Professional | November 4, 2025
