MESA, Ariz., Feb. 11, 2025 -- Northrim Horizon ("Northrim"), a permanent capital investment firm, today announced the successful close of Northrim Horizon Fund III, L.P. ("Fund III") with total committed capital of $235 million (the hard cap). Raised over a period of five months, Fund III was significantly oversubscribed with commitments from leading global investors, including insurance companies, endowments, fund-of-funds and family offices.
Consistent with the strategy of Funds I and II, Fund III will focus on partnering with well-run, enduring platforms within business and consumer services, healthcare services, and software and tech-enabled services.
"We are thrilled to share the successful close of Fund III and deeply appreciate the trust our investors have placed in us," said Brad Gulbrandsen, Managing Parter of Northrim Horizon. "With this additional capital, we are well-positioned to grow our portfolio and drive enduring value for our partners and stakeholders."
Since its inception, Northrim has invested in 47 companies, including 11 platforms and 36 strategic add-on acquisitions. Northrim targets mature, cash-generative businesses with EBITDA between $1 to $5 million in its areas of focus.
DLA Piper served as legal counsel.
About Northrim Horizon
Northrim Horizon is a permanent capital investment firm that acquires and operates well-run, profitable service and software businesses. Northrim builds long-term value by reinvesting its earnings into its companies and people. The firm is based in Mesa, Arizona. For more information, please visit www.northrimhorizon.com.
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