Cincinnati, Ohio and Raleigh, North Carolina-based growth equity firm River Cities Capital Funds closed its fifth fund, at $200m.
Fund V, which surpassed its $150m target with the continued support from long-time limited partners as well as new participation from several large national and international institutions, invests in high-potential healthcare and IT companies.
It has already invested in:
– Trax Technologies, a Saas provider of logistics-spend management solutions;
– TissueTech, a provider of regenerative tissue-based products; and
– StepLeader, a B2B provider of mobile technology platform and data-driven mobile ad networks for local media outlets.
Led by founders Glen Mayfield and Ted Robinson, and investors Dan Fleming, Carter McNabb, Ed McCarthy, Rob Heimann and Rik Vandevenne, and Davis Griffin, River Cities Capital Funds, River Cities has invested in SPS Commerce, SciQuest, EVault, MX Logic, Suros Surgical, Orthoscan, and OrthoHelix
The firm has hired Walker Fuller, senior associate, and Patrick Dunnigan, currently pursuing an MBA at the Duke University Fuqua School of Business, who will be joining the team as an investment intern.