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NextGen Growth Partners (NGP), a Chicago-based private investment firm that partners with top entrepreneurial talent to acquire, operate, and grow lower middle-market businesses across various industries, has closed its third fund at its hard cap of $165M. Fund III was oversubscribed at the first and final close, welcoming capital commitments from new institutional partners alongside continued support from existing ones, solidifying its position as one of the leaders in the ETA industry.
In recent years, NGP has experienced significant growth, particularly in talent development, investments, and value creation initiatives to further support its Entrepreneurs-in-Residence (EIRs) and their thesis-driven, proprietary search processes. The firm has completed over 20 acquisitions and maintains a portfolio of a dozen companies, including JMG Marketing, Sunrise Landscape, DAWGS, Robo6K, PMP, Premiere Property Services, Juda Eskew & Associates, Quality Network Solutions, and Morris Heating & Cooling. Recent exits include MHW, Record Connect, and ConData.
“In a challenging fundraising environment, we are incredibly grateful for the support of both our existing partners and a diverse group of new limited partners. The strong demand for Fund III is a testament to the quality of our strategy, culture, and team,” said Brian O’Connor, Founder and Managing Partner. “We believe that our commitment to a people-oriented, entrepreneurial approach and proprietary strategy offers a unique value proposition to sellers and investors in the lower-middle market alike.”
“NGP Fund III will extend the legacy of what our firm does best: partner with high potential businesses and pair them with the support of our EIRs and value creation approach,” shared Eric Wilson, Principal, Portfolio Operations.
Legal counsel: Kirkland & Ellis LLP / Fund Administrator: Apex Group
