NextGen Growth Partners Closes Oversubscribed Fund III at $165M Hard Cap, Championing Entrepreneurial Approach

CHICAGO--(BUSINESS WIRE)--NextGen Growth Partners ("NGP"), a Chicago-based private investment firm, has closed its third fund, NextGen Growth Partners Fund III, LP ("Fund III"), at its $165 million hard cap. Fund III was oversubscribed at a first and final close, welcoming capital commitments from new institutional partners alongside continued support from its existing partners.

Eight years ago, NGP was founded on the belief that the way businesses are acquired and grown could be transformed. With a focus on preserving legacy, partnering with supportive investors, and cultivating a team where culture is as valuable as returns, NGP has solidified its position as a leader in Entrepreneurship through Acquisition ("ETA").

"In a challenging fundraising environment, we are incredibly grateful for the support of both our existing partners and a diverse group of new limited partners. The strong demand for Fund III is a testament to the quality of our strategy, culture, and team," said Brian O'Connor, Founder and Managing Partner. "We believe that our commitment to a people-oriented, entrepreneurial approach and proprietary strategy offers a unique value proposition to sellers and investors in the lower-middle market alike."

Since the close of Fund II, LP, in May 2022, NGP has seen significant growth, particularly in talent development, investments, and value creation initiatives to further support its Entrepreneurs-in-Residence (EIRs) and their thesis-driven, proprietary search process.

"We're incredibly grateful for the trust and support of our investors," O'Connor added. "With Fund III, we're well-positioned to continue our mission of partnering with exceptional entrepreneurs and driving growth in fundamentally-sound businesses."

Through Funds I and II, NGP has completed over 20 acquisitions, with a goal of creating a holistic approach to supporting the growth and development of flourishing companies. "NGP Fund III will extend the legacy of what our firm does best – partner with high potential businesses and pair them with the support of our EIRs and Value Creation approach," shared Eric Wilson, Principal, Portfolio Operations.

With Fund III—NGP's largest to date—the firm is poised to continue its well-established strategy and further its mission of partnering with talented entrepreneurs to foster innovation and growth.

Kirkland & Ellis LLP provided NGP with legal counsel, and Apex Group is serving as the Fund Administrator.

For more information, please contact the team at [e-mail].