California-based Huntington Capital has closed its third fund on $91.7 million. The fund will focus on growth equity investments in lower-middle market companies.
The fund was first launched in 2013, known investors include Nevada education fund – Silver State Opportunities, which committed $5 million in June of that year.
Other investors in the fund include regional banks, foundations and family offices.
Huntington Capital declined to comment on fundraising.
Huntington’s previous fund closed on $78 million in 2008.
Fund III is already partially invested. Huntington has committed approximately $39 million of mezzanine debt and equity from the vehicle in eight transactions, consisting of new and add-on investments. The fund is using the same strategy as predecessor vehicles, focusing on finding opportunities in underserved markets with companies that will increase the number and quality of jobs for low and moderate income individuals.
Huntington invests across a wide range of industries, including manufacturing, services, software, IT, consumer product and health care.