Sverica Capital Management has closed its sixth private equity fund, Sverica Capital Partners VI LP, at its hard cap of $750 million of limited partner commitments.
Sverica’s earlier fund, Sverica Capital Partners V LP, closed in September 2019 at its hard cap with $450 million of capital commitments.
“We are humbled and honored by the support from our longstanding limited partners and small group of new investors,” said Jordan Richards, a managing partner at Sverica. “Fund VI will enable Sverica to invest in the next generation of entrepreneurs striving to be leaders in their industries as we actively provide support to achieve their goals.”
Sverica invests in North American-based companies with less than $20 million of EBITDA and less than $250 million of enterprise value. Sectors of interest include technology, business services, software, healthcare, and advanced industrial.
“Maintaining the interest and trust of our limited partners to manage this new pool of capital is an honor,” said Dave Finley, a managing partner at Sverica. “We have built a great team here at Sverica and are excited to continue following the investment and portfolio management strategies that have been proven through successive funds.”
With the closing of Fund VI, Sverica has now raised nearly $2 billion across six funds and invested in 44 portfolio companies. Two recent investments closed by Sverica include the August 2022 investment in Omeda, a Chicago-based provider of SaaS-based data and marketing services used by media organizations to acquire, manage and monetize their customer data. Specific services provided by Omeda include subscription management; email and marketing automation; and data storage, management, and analysis.
In June 2022, Sverica invested in SG Homecare, a California-based provider of durable medical equipment (wheelchairs, beds, oxygen tanks, canes, crutches, and walkers), prosthetics, orthotics, and related supplies to home-based patients throughout the California market.
“The success of this fundraise, despite a very challenging environment for raising capital, is a testament to our outstanding team,” said Frank Young, a managing partner at Sverica. “We are fortunate to work with many talented, high-character individuals, and are grateful for their passion, dedication and hard work.”
Sverica was founded in 2001 and is headquartered in Boston with an additional office in San Francisco.
© 2023 Private Equity Professional | March 23, 2023
