Fulcrum Equity Partners, a growth equity firm investing in top performing healthcare, software and technology-enabled service companies, announced today the closing of its third fund, Fulcrum Growth Fund III. Fund III closed with $203 million in committed capital, more than 60 percent above the original target of $125 million. The latest Fund exponentially exceeds its first two funds, which totaled $40 million and $93 million, respectively.
Fulcrum received tremendous support from its existing base of investors that includes many current and former CEOs and also welcomed a number of new name-brand institutions to its LP base. To further fuel its growth, the Atlanta-based firm, which also has an office in St. Petersburg, Fla., will open a third office in Chapel Hill, N.C. this fall.
“The Fulcrum team is excited about the opportunity we see in the market to deploy Fund III. We have already closed investments in four portfolio companies with a fifth company under signed letter of intent,” said Jeff Muir, partner at Fulcrum. “The larger Fund enables us to be a stronger financial partner to help entrepreneurs take promising growth stage businesses to the next level through both capital infusion as well as operating experience.”
Top performance of Fulcrum’s first two funds has validated the firm’s healthcare, software and tech-enabled services growth stage strategy that will be deployed in Fund III. The team has proven its ability to help scale entrepreneurial companies into professionally managed organizations, highlighted by exits to name brand corporations and funds including Oracle, TeamHEALTH, SAI Global, Sequoia Capital, Insight Venture Partners, and GTCR, to name a few.
The team was aided in the fundraise by Bright Harbor Advisors. “Prospective investors recognized Fulcrum as a compelling opportunity to back a proven team that has known and worked together for over 20 years. LPs were attracted to the team’s deep operating experience, unique deal sourcing and consistent strong returns,” said Brett Nelson, managing partner of Bright Harbor. “As a result, investors were interested in the Fund, highlighted by demand far outpacing the original target raise.”
In addition to Bright Harbor’s exclusive placement agent role, DLA Piper LP provided fund formation counsel.
About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm focused on providing expansion capital to rapidly growing companies. Fulcrum targets companies that are initially looking to raise $5 million – $20 million and will consider $3 million – $4 million initial investments in companies that expect to raise additional capital over time. Fulcrum provides financing to meet a wide range of needs including internal growth initiatives, acquisitions, divestures, shareholder liquidity and recapitalizations. The partners have over 130 years of relevant experience, including operations, venture capital, mezzanine financing, accounting, law, investment banking and strategy consulting. To learn more, please visit http://www.fulcrumep.com.
About Bright Harbor Advisors
Bright Harbor Advisors is an independent private equity advisory firm with a core focus on primary fund placement for best-in-class private equity and alternative asset managers, direct deals and secondary advisory (LP Interests and direct companies). With offices in New York, Denver and Los Angeles, the firm is led by a seasoned team of senior professionals that possess extensive placement and marketing experience, a global network of close investor relationships, and strong buy-side investment experience. Bright Harbor Advisors also publishes research on the trends in the private equity market from an LP perspective. For additional information visit http://www.brightharboradvisors.com.