ncgCARE, a Richmond, Virginia-based provider of mental health services, received a $5m investment.
NewSpring Capital, a family of private equity funds providing growth and expansion capital, made the investment via NewSpring Mezzanine Capital, its dedicated mezzanine fund, along with existing strategic acquisitions.
The company will use the proceeds to expand operations.
Led by Frank Viera, President and CEO, ncgCARE is a provider of community-based and outpatient mental health services. Through its network of providers, the company provides Children and Adult home and school based services for children, Outpatient Psychiatric and Therapy services for mental health and substance use disorders, and Therapeutic Foster Care services.
The company currently operates in Virginia, North Carolina, and Pennsylvania.