Global private equity firm Riverside Co. has closed its second micro-cap fund at $137m.
Riverside Micro-Cap Fund II (RMCF II), a small business investment company (SBIC) fund, will focus on investing in companies with under $5m in EBITDA.
As an SBIC fund, RMCF II will access to low-interest rate debt from the U.S. government’s Small Business Administration (SBA) and add up to $150m in capital, providing it with a total of $287m to take control positions in U.S.-based smaller companies.
Backers include existing (62%) and new investors including
– BMO Harris Bank N.A.,
– The Cleveland Foundation,
– Key Community Development Corporation,
– Mathers Associates,
– Method Advisors,
– Paragon Advisors,
– State of Michigan Retirement System.
The RMCF team is led by Co-Fund Managers Loren Schlachet and Ron Sansom.