Sverica Capital Management has struck its $450m hard cap in just three months through a ‘one and done’ final close of its fifth flagship fund.
That raise puts Fund V’s total well above the $275m Sverica collected for its fourth fund in 2016 – also a hard cap close.
Sverica said the vehicle would be used to continue its strategy of investing in companies that are, or have the potential to be, category leaders within their respective industries in technology, business services, healthcare and high-value industrial sectors.
Dave Finley, managing partner at Sverica, said, “We appreciate the strong interest that was shown by the LP community in our investment strategy, enabling us to close at the hard cap within a three-month effort.
“This is an important step forward for Sverica that will allow us to further invest in the firm’s capabilities in our pursuit of industry-leading results.”
Sverica invests in companies at the lower end of the middle market, targeting businesses with enterprise values of up to $150m with strong growth characteristics and differentiated solutions or products.
Sverica has now raised more than $1.1bn across five funds, and invested in 34 portfolio companies since inception.
Recent deals from the firm include agreeing to exit metal materials business Dexmet Corporation in July after agreeing a sale to trade buyer PPG.
Dexmet provides metal foils and polymers for a range of applications such as lightning strike protection, power storage technology and structural technology.
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