Hughes & Company, a private equity firm with a focus on healthcare software and technology-enabled services, announced the closing of its second private equity fund, known as Hughes Growth Equity Fund II, L.P. This fund reached its hard cap of $260 million, surpassing its initial target of $200 million.
The investment team at Hughes & Company comprises seasoned professionals, including healthcare industry experts, operational leaders, and innovative thinkers. These individuals have a proven track record of creating substantial value within the healthcare sector, which is crucial for navigating the industry’s complexities.
Since its launch in 2010, Hughes & Company has built an impressive portfolio by strategically investing in healthcare software and technology-enabled services companies. The firm’s first fund, Hughes Growth Equity Fund I, L.P., successfully closed in 2021, raising $116 million.
This fund focused on supporting several growth-stage companies, with one of its most notable exits being Azara Healthcare, a provider of population health management software. Azara was sold to Insight Partners in late 2024, highlighting the firm’s ability to identify and cultivate high-potential investments.
In a significant move for its second fund, Hughes & Company also recently completed its inaugural investment by facilitating the merger of two dynamic companies: Curvo and BroadJump. This merger results in a unified spend management and analytics platform tailored for hospitals and health systems.
The newly formed organization offers an extensive suite of tools designed to streamline operations, reduce costs, enhance sourcing efficiency, and ultimately improve patient outcomes. This strategic combination is expected to provide healthcare providers with the necessary insights and capabilities to thrive in an increasingly complex and competitive environment.
KEY QUOTES:
“We are deeply grateful for the confidence shown by our existing investors and our new partners who joined Fund II. With their commitment comes a great responsibility to be thoughtful stewards of capital. For the last 15 years, we’ve been singularly focused on helping grow companies that improve our healthcare system. We are only scratching the surface with respect to the need and opportunity, and we are committed to our investors and portfolio leadership teams to continue building valuable companies that lower cost and improve efficiency within healthcare.”
Travis Hughes, Managing Partner and Founder
“To keep delivering strong results, we need to invest in more than just companies; we need to invest in our team and culture. We’ve expanded our capabilities and will continue to deepen our bench so we can partner even more effectively with management teams as we aim to create lasting value.”
Naile Kovuk, Managing Partner
