North Bridge Growth Equity has held the final closing of its second fund with over USD580m of commitments.
North Bridge Growth Equity now has total capital under management of more than USD1.1bn.
North Bridge Growth Equity II will continue its strategy of investing primarily in privately held, technology and tech-enabled businesses that are entrepreneur owned and managed, and have grown to tens of millions in revenue with little or no outside capital.
“We are pleased to announce the closing of North Bridge Growth Equity II and are grateful for the continued support of our longstanding investors, as well as the substantial interest from new investors,” says Ed Anderson, managing general partner at North Bridge.
“Our investment strategy remains the same, along with the team and the fund size,” says Doug Kingsley, managing director at North Bridge Growth Equity. “Plus, with the natural synergy we enjoy with our venture arm, we are confident in our ability to identify and partner with exceptional management teams of leading growth companies to take them to new levels of revenue, profitability and governance.”