Mountaingate Capital, a Denver, CO-based private equity firm, closed its first fund, at $395m.
Fund I, which closed above its target of $300m, was oversubscribed and attracted a diverse investor base of institutional investors.
Fund I invests in new platform companies typically with $5m to $25m of EBITDA and supports their efforts with strategic add-on acquisitions in four target sectors: marketing services, business/industrial services, specialty distribution and specialty manufacturing, including medical devices.
The fund has already three platform investments in the portfolio:
– W2O Group, a San Francisco-based marketing and communications firm serving healthcare and technology clients with proprietary analytics and insights;
– HS2 Solutions, a Chicago-based digital brand experience agency with expertise across enterprise marketing platforms; and
– Elite SEM, a New York-based performance driven digital marketing firm specializing in e-commerce and consumer brands.
Led by co-founders and managing directors Stew Fisher, Bennett Thompson, Bruce Rogers and Colton King, Mountaingate has already formalized strategic plans for these platforms, supported several management additions and closed three strategic add-on acquisitions.