- HCAP Partners has announced the final close of HCAP Partners IV, L.P. with total commitments at the Fund’s hard cap of $150 million
California-based private equity firm and impact investor HCAP Partners announced the final close of HCAP Partners IV, L.P. with total commitments at the Fund’s hard cap of $150 million. And the Fund is operating as a U.S. Small Business Administration SBIC (Small Business Investment Company) and will continue the firm’s strategy of investing in underserved businesses in the lower middle market and implementing its Gainful Jobs Approach designed to improve job quality standards across its portfolio.
HCAP Partners IV, L.P. was oversubscribed and it included a diverse investor base of both existing limited partners from previous funds and new limited partners, including leading foundations, family offices, and financial institutions.
“Fund IV will allow us to continue investing in underserved, growth-stage companies in the technology, healthcare, services, and manufacturing industries that will benefit not only from our capital but also from our Gainful Jobs Approach and strategic value-added resources,” said HCAP Partners managing partner Tim Bubnack. “We credit our success to our experienced team and focused investment strategy, and we thank our limited partners for their continuing support and commitment to our firm.”
With a focus on the lower middle market — an area of the economy that has been traditionally underserved by institutional capital — HCAP Partners IV, L.P. will continue to be a partner of choice for companies that are seeking debt and equity for growth, acquisitions, and other strategic initiatives.
HCAP Partners launched in 2000 and it is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. And the firm is seeking to invest $2 million to $15 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP has invested in more than 40 companies since it was founded. Besides Bubnack, the firm’s executives include Frank Mora (partner), Hope Mago (principal), Nicolas Lopez, CFA (principal), Bhairvee Shavdia (senior associate), Kurt Noyes (CFO), Jennifer Neivert (administration manager), and Morgan L. Miller, Jr. (co-founder emeritus).
