Chicago-based private investment firm NextGen Growth Partners (NGP) has closed its third fund, NextGen Growth Partners Fund III, LP at its $165 million hard cap. And Fund III was oversubscribed at a first and final close, welcoming capital commitments from new institutional partners alongside continued support from its existing partners.
About eight years ago, NGP was founded on the belief that how businesses are acquired and grown could be transformed. With a focus on preserving legacies, partnering with supportive investors, and cultivating a team where culture is as valuable as returns, NGP has cemented its position as an Entrepreneurship through Acquisition (ETA) leader.
Since closing Fund II, LP, in May 2022, NGP has seen significant growth, especially in talent development, investments, and value creation initiatives to further support its Entrepreneurs-in-Residence (EIRs) and their thesis-driven, proprietary search process.
Through Funds I and II, NGP completed over 20 acquisitions, creating a holistic approach to supporting the growth and development of successful companies.
Kirkland & Ellis provided NGP with legal counsel, and Apex Group is the Fund Administrator.
KEY QUOTES:
“In a challenging fundraising environment, we are incredibly grateful for the support of both our existing partners and a diverse group of new limited partners. The strong demand for Fund III is a testament to the quality of our strategy, culture, and team. We believe that our commitment to a people-oriented, entrepreneurial approach and proprietary strategy offers a unique value proposition to sellers and investors in the lower-middle market alike.”
“We’re incredibly grateful for the trust and support of our investors. With Fund III, we’re well-positioned to continue our mission of partnering with exceptional entrepreneurs and driving growth in fundamentally-sound businesses.”
- Brian O’Connor, Founder and Managing Partner
“NGP Fund III will extend the legacy of what our firm does best – partner with high potential businesses and pair them with the support of our EIRs and Value Creation approach.”
- Eric Wilson, Principal, Portfolio Operations
