NextGen Growth Partners held a final close on its inaugural vehicle, NextGen Growth Partners Fund I, after surpassing its $50 million target size, according to the firm’s press release.
Through this vehicle, the Chicago-based firm will invest in lower middle-market companies in the United States with annual cash flows ranging from $1 million to $5 million. In addition to providing capital, NGP also seeks out local entrepreneurs to serve in leadership roles at its portfolio companies.
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