Boston-based Fort Point Capital closed its third private equity investment fund, FPC Small Cap Fund III and FPC Small Cap Fund III-A, at $340 million.
“Fort Point’s disciplined, institutional approach focused on the lower middle market and strong alignment in all of our relationships resonated with investors,” Co-Founder and Partner Paul Lipson said in a statement. “There is no change to our focus in FPC III. Our willingness to aggressively invest in people, processes, and systems has resulted in a unique portfolio in our first two funds with demonstrated results.”
The strategy at the $630 million firm remains focused on the lower middle market, with an emphasis on service-oriented, growth-focused approach with companies with less than $100 million of enterprise value.
“We appreciate the continued support of our existing investors and are grateful for the strong interest from the new limited partners joining us in FPC III,” said Co-Founder and Partner Brooke Ablon, in a statement. “Fort Point continues to attract high-quality investors whose partnership is essential to the success of our firm.”
Since its 2011 inception, FPC has acquired 13 platforms and closed 21 add-on investments enabling its platform companies to significantly scale. Fort Point now has 11 team members in Boston to support its continued growth.