[May 20, 2019] |
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Noro-Moseley Closes $180 Million Fund
NMP Management Corporation ("NMP" or the "Firm"), an Atlanta-based early
growth equity firm, completed fundraising for its latest fund,
Noro-Moseley Partners VIII, L.P. ("NMP VIII"). NMP VIII closed
oversubscribed at its hard cap of $180 million in capital commitments
($30 million over its target). NMP VIII investors include public and
sovereign pension plans, leading health plans and health systems,
foundations, endowments and family offices.
"We are excited to announce the final closing of our eighth fund. We are
appreciative of the strong support from both our existing LPs and a
number of new LPs," said Allen Moseley, NMP's Managing Partner. "We are
proud of the strong team we have built at NMP and are committed to
finding, investing in and growing exciting technology and healthcare
businesses."
NMP Fund VIII Focus Continuing the Firm's successful
strategy of the two prior funds (NMP VI and NMP VII), NMP VIII will
focus on information technology and healthcare businesses with rapidly
scaling revenue, a capital-efficient model and a clear pathway to
profitability, in geographies throughout the United States (excluding
the West Coast). NMP VIII will make equity investments of $8-$10
million, and target companies that typically have between $2-$10 million
of recurring revenue and annual growth rates above 50%. NMP VIII made
its first investments in 2019, investing in BehaveCare, Inc., a care
delivery plaform for high-cost individuals in a health insurance plan
based in Providence, RI, and Revenue Analytics, an Atlanta-based
provider of predictive analytics solutions for pricing and revenue
management.
"With NMP VIII, our strategy remains focused on identifying, investing
in and working with market leading, high growth companies," added NMP's
General Partner, Alan Taetle. "We will continue serving founders and
executive teams with our domain expertise, industry contacts and
strategic relationships to enhance value and support growth companies'
needs."
NMP Success Since 1983, NMP has been a leader in its market,
investing approximately $800 million in 200 companies. NMP has built a
strong network of successful entrepreneurs, strategic partners,
management talent and value-added co-investors to support its portfolio
companies. Led by Moseley and Taetle, the Firm's current investing team
also includes General Partner Spence McClelland, Principal John Ale and
Vice President Ryan Collins. Over the past 20 years, this team has
invested in 65 companies. Furthermore, since 2013, this team has
successfully exited 13 companies, with an aggregate exit value of $3.3
billion, including successful exits like Virtustream (Bethesda, MD),
Wellcentive (Atlanta, GA), Clearleap (Atlanta, GA) and Network Medical
(Birmingham, AL).
"We believe in our proven and differentiated investment strategy," said
Moseley. "We look forward to working closely with the entrepreneurial
community, deal sources in our target markets of interest and strategic
LPs to source and help grow exciting young companies with emerging
market opportunities to drive strong returns to our LPs."
About NMP NMP is an early growth equity firm backing
high-growth businesses and leading entrepreneurs, investing nationally
across healthcare IT, healthcare services, tech-enabled services,
technology and financial services sectors. In addition to capital, the
Firm's goal is to help strong leaders succeed through team building,
growth acceleration and domain expertise at key junctures during company
growth stages.
For more information, visit http://www.noromoseley.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190520005048/en/
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