Mangrove Equity Partners Closes $250 Million Fund IV at Hard Cap

Mangrove Equity Partners has held a final, oversubscribed, and hard cap close of Mangrove Investors IV LP (Fund IV) with $250 million of capital.

Limited partners in the new fund include a mix of institutional investors in the United States and Europe, including university and nonprofit endowments, funds of funds, family offices, pension plans, advisory firms, and former portfolio partners. Members of the Mangrove team also made personal commitments to invest alongside the fund.

“We’re thankful for the trust our existing and new partners placed in us, which positioned Mangrove for a smooth fund raise in a challenging environment,” said Mark Danzi, a managing director of Mangrove. “We were meaningfully oversubscribed for the third time in a row, which we consider a testament to our consistent and successful approach.”

Mangrove invests in North American-headquartered companies that have revenues from $10 million to $100 million and EBITDA of $3 million to $10 million. Sectors of interest include industrial products manufacturing, consumer products manufacturing, industrial and business services, and specialty rental.

Mangrove’s Fund IV has not yet closed any platform investments. The firm’s recent transactions include new investments made through its third fund and the exit of several portfolio companies during the marketing and fundraising of Fund IV.

In March 2025, Mangrove launched Sphere Investigations, a platform focused on fraud detection and corporate investigations. The platform expanded in September 2025 with the add-on acquisition of Marshall Investigative Group.

Recent exits by Mangrove include PowerParts Group, an Ohio and South Carolina-based manufacturer of aftermarket turbine components used in power generation and industrial energy facilities, acquired through Fund III in November 2020 and sold to JLL Partners in January 2026; Vintage Air, a Texas-based manufacturer of aftermarket air-conditioning systems for classic and performance vehicles, acquired through Fund III in December 2021 and sold to LFM Capital in October 2025; Patrol Protect Secure, an Illinois-based and nationwide provider of contract security services, acquired through Fund II (in partnership with Sunlake Capital) in December 2018 and sold to PalAmerican Security, the U.S. subsidiary of Canada-based, family-owned Paladin Security Group, in October 2025; and Seaside Waste Services, a New Jersey-based provider of non-hazardous waste collection and disposal services, acquired through Fund III in January 2021 and sold to Interstate Waste Services, a portfolio company of Littlejohn, in August 2025.

“I’m so proud of the team we’ve built at Mangrove. We have gathered a group of extremely smart, hardworking, and team-oriented professionals who are poised to carry the firm well into the future. I look forward to working with them to successfully invest Fund IV,” said Matt Young, founder and a managing director of Mangrove.

Mangrove was founded in 2006 and is headquartered in Tampa, Florida.