North Bridge Growth Equity has held a final closing of its second fund with over $580 million of commitments. This brings North Bridge Growth Equity’s total capital under management to more than $1.1 billion.
“We are pleased to announce the closing of North Bridge Growth Equity II and are grateful for the continued support of our longstanding investors, as well as the substantial interest from new investors,” said Ed Anderson, managing general partner at North Bridge.
North Bridge Growth Equity II will invest primarily in privately held, technology and tech-enabled businesses that are entrepreneur owned and managed, and have grown to tens of millions in revenue with little or no outside capital.
“Our investment strategy remains the same, along with the team and the fund size,” said Doug Kingsley, managing director at North Bridge Growth Equity. “Plus, with the natural synergy we enjoy with our venture arm, we are confident in our ability to identify and partner with exceptional management teams of leading growth companies to take them to new levels of revenue, profitability and governance.”
North Bridge Growth Equity invests from $15 million to $75 million as either a minority or majority investor in rapidly growing companies that have $15 million to $300 million in annualized revenue. North Bridge Growth Equity is led by a team of four general partners – Matt Blodgett, Doug Kingsley, Mike Pehl and Russ Pyle – together they have 70 years of combined operational and investment experience. Combined with five Principals and eight Associates, the team looks to make growth equity investments in growth companies in technology and technology-enabled industries. The firm has offices in Palo Alto, CA and Waltham, MA (www.nbvp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-23-13