CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--AAVIN Equity Advisors, LLC (“AAVIN”), a Cedar Rapids-based private equity firm, announced today the closing of AAVIN Capital III, L.P. (“AAVIN III”) with total capital commitments of $63 million and a license to operate as a Small Business Investment Company (“SBIC”). AAVIN III received strong support from its existing investors and expanded its capital base with new institutional investors. AAVIN III continues the strategy of the previous two AAVIN funds and the firm’s predecessor organization, Allsop Venture Partners.
AAVIN III will invest in U.S.-based lower middle market companies with less than $50 million of revenues. The fund will deploy AAVIN’s highly successful private equity strategy to invest in founder or family-led businesses, generating a combination of growth and income for investors. AAVIN III is a licensed SBIC and draws 2:1 leverage from the SBIC program, taking total investable capital to $189 million. AAVIN has a robust transaction pipeline in its target markets and recently closed AAVIN III’s first platform investment.
AAVIN III is more than double the size of AAVIN’s previous lower middle market fund, which closed in 2015 with total investable capital of $86 million.
Troutman Pepper served as fund counsel and B. Riley Securities, Inc. served as placement agent with respect to AAVIN III.
About AAVIN Equity Advisors, LLC
AAVIN Equity Advisors, LLC is a lower middle-market private equity firm focused on founder or family-led buyout and recap transactions. AAVIN’s investment professionals have been investing in the lower middle-market for over 40 years and have invested in over 300 small businesses. AAVIN is led by co-founder and Managing Partner Jim Thorp and Partners Thies Kolln, Dan Gross, and Kevin Mullane. AAVIN III is the team’s 13th private fund and 8th SBIC license. AAVIN currently manages $275 million of assets and has offices in Cedar Rapids, IA, and Kansas City, MO.