SYS-CON MEDIA Authors: Gilad Parann-Nissany, Unitiv Blog, Kevin Benedict, Maxime Charlès, RealWire News Distribution

News Feed Item

North Bridge Closes Second Growth Equity Fund with over $580 Million of Commitments

North Bridge Growth Equity today announced the final closing of its second fund with over $580 million of commitments. This brings North Bridge Growth Equity’s total capital under management to more than $1.1 billion.

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,” said Ed Anderson, managing general partner at North Bridge.

“Our investment strategy remains the same, along with the team and the fund size,” said 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.”

North Bridge Growth Equity is led by a team of four general partners – Matt Blodgett, Doug Kingsley, Mike Pehl and Russ Pyle – together they have 70 years of combined operational and investment experience. Combined with five Principals and eight Associates, the team looks to create compelling, proprietary growth equity investments in growth companies in technology and technology-enabled industries. Successful recent investments include: Proto Labs, Inc. (NYSE: PRLB), a leading technology-enabled manufacturer of quick-turn parts currently valued at over $2 billion; RuffaloCODY, the leading provider of technology-enabled fundraising and enrollment management services for higher education; and SmartPak, the leading equine health brand in the United States.

About North Bridge:

North Bridge Venture Partners and North Bridge Growth Equity are active partners with entrepreneurs providing seed-to-growth financing for innovative companies looking to disrupt big markets. With $3.5 billion in capital currently under management, North Bridge partners, many founders themselves, work with entrepreneurs to apply their expertise in the creation, operation and scaling of market-leaders. The firm has funded more than 170 companies creating many billions in market value. Among those firms are Acquia, Actifio, Cool Planet, Demandware, Mavenir Systems, Proto Labs, Reval and Starent Networks. The firm has offices in Waltham, MA and Palo Alto, CA. To learn more about North Bridge go to http://www.northbridge.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.