Healthcare and technology-focused firm Fulcrum Equity Partners has announced its third and biggest fund of $203 million. The fund will be one of the largest headquartered in Atlanta and will focus on providing expansion capital for high-growth companies.
Fulcrum’s Fund III exceeds the firm’s combined first and second funds, which totaled $133 million. Atlanta-based Fulcrum, which also has an office in Florida, will open a third office in Chapel Hill, NC.
“The larger fund enables us to be a stronger financial partner to help entrepreneurs take promising growth stage businesses to the next level through both capital infusion as well as operating experience,” says Fulcrum partner Jeff Muir. Muir has been with Fulcrum and its predecessor firm, Fulcrum Ventures, since 2000.
According to Muir, the team has already closed investments in four companies with this capital. Fulcrum targets mid-stage healthcare, software, and technology-enabled service companies looking to raise $5- $20 million. Their portfolio includes rapidly-scaling companies like QASymphony and Synthio, as well as several that have seen high-profile exits.
Fund III exceeded Fulcrum’s original target of $125 million by 60 percent. Bright Harbor Advisors, a private fund advisory firm who aided the fundraising, says new and old LPs were attracted to Fulcrum’s team and approach.
“LPs were attracted to the team’s deep operating experience, unique deal sourcing and consistent strong returns,” says Bright Harbor managing partner Brett Nelson.