Providence Equity Partners L.L.C., a Providence, RI-based private equity firm, closed its first fund at $315m.
Providence Strategic Growth Capital L.P. exceeded its target of $250 million, and hit its hard cap receiving commitments from many existing and new investors, including corporate pensions, family offices and high net worth individuals.
Led by Jonathan Nelson, Chief Executive Officer, and Mark Hastings, a Managing Director, the firm targets investments in lower middle market technology-enabled media, communications, education and information companies in North America.
Providence manages funds with over $40 billion in commitments and has invested in more than 140 companies globally since its inception in 1989.
It has offices in New York, London, Hong Kong, Singapore, and New Delhi.