Two years after closing its tenth fund, Ampersand Capital Partners closed their latest industrial healthcare investment fund at $1.2 billion, officials announced this week.
Ampersand 2022 was oversubscribed and held a single close less than three months after launch, raising capital from endowments, foundations, pensions, insurance companies, funds of funds and family offices. The latest fundraise soars past Ampersand 2020, which closed at $690 million and was followed by a continuation fund that attracted $670 million.
“We greatly appreciate the strong support from both existing and new investors and their confidence in Ampersand’s specialized Industrial Healthcare investment strategy which focuses on mission-critical tools and services supporting innovation and healthcare and life sciences,” said Herb Hooper, Ampersand managing partner.
With this new fund, the Wellesley, Mass.-based firm plans to continue to partner with entrepreneurs within its core investment sectors through both majority and minority investments in companies with $10 million to $100 million in revenue and positive EBITDA.
As of the end of 2021, Ampersand had $2.7 billion in assets under management, according to regulatory filings.