Northrim Horizon, a permanent capital investment firm, announced the closing of Northrim Horizon Fund III, L.P., with a total committed capital of $235 million (the hard cap). Raised over five months, Fund III was oversubscribed with commitments from leading global investors, including insurance companies, endowments, fund-of-funds, and family offices.
Consistent with the strategy of Funds I and II, Fund III will also focus on partnering with well-run, enduring platforms within business and consumer services, healthcare services, and software and tech-enabled services.
Since launching, Northrim has invested in 47 companies, including 11 platforms and 36 strategic add-on acquisitions. In its areas of focus, Northrim targets mature, cash-generative businesses with EBITDA between $1 and $5 million.
DLA Piper served as legal counsel.
KEY QUOTE:
“We are thrilled to share the successful close of Fund III and deeply appreciate the trust our investors have placed in us. With this additional capital, we are well-positioned to grow our portfolio and drive enduring value for our partners and stakeholders.”
– Brad Gulbrandsen, Managing Parter of Northrim Horizon
