Lower mid-market Corridor Capital kicks off Fund III raise

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Los Angeles-based Corridor Capital has launched its third flagship fundraise – and has already begun registering capital for the vehicle.

The firm has registered $22.9m towards its $200m upper goal after attracting commitments from 36 LPs, according to a filing with the SEC.

If it reaches its listed goal, it would more than quadruple the $42m the firm raised for Fund II in 2012.

It is unclear what strategy the vehicle will adopt, but it typically invests in businesses across the manufacturing, business services, healthcare, technology and financial services industries with an EBITDA of betweem $2m and $8m.

Its current portfolio is made up of eight companies across the US, including printed circuit board company Circuitronics and floor covering distrbutor SCI.

The firm was founded in 2005 by Craig Enenstein, and started investing in lower mid-market businesses across America.

Before launching Corridor, Enenstein led transactions for Omninet Capital, Liberty Digital and Knowledge Universe where he completed more than 24 buyout deals worth more than $400m, according to the firm’s website.

Back in May, it was reported that Corridor has backed specialty and gourmet food provider Indo European Foods alongside Centerfield Capital Partners.

A week after, it was also reported that Rohit Bassi had joined the team as managing director.

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