H.I.G. Ventures Raises $300 Million Venture Capital Fund
January 5, 2005 – H.I.G. Ventures, an affiliate of Miami-based private equity firm H.I.G. Capital, LLC, announced today that it has successfully raised H.I.G. Venture Partners II, L.P. (the “Fund”), a venture capital fund which will invest in early-stage companies in the information technology and life sciences industries, with a primary focus on companies located in the Southeast region of the U.S. The Fund held its first closing on $250 million of equity capital and is in the process of closing on an additional $50 million in the next few weeks, bringing the total fund size to its maximum cap amount of $300 million.
The new Fund will continue the successful investment strategy employed by H.I.G. Ventures’ predecessor fund, H.I.G. Venture Partners I, L.P., which was established in 1999 with $250 million of equity capital. The Fund will make investments in emerging high-growth companies across the information technology and life sciences industries, and in a range of early-stage and mid-stage companies that have significant potential for growth and value creation.
With offices in Miami and Atlanta, H.I.G. Ventures is one of the largest and most active venture capital firms based in the Southeast United States, according to Tony Tamer and Sami Mnaymneh who co-founded H.I.G. and serve as its Managing Partners. Since its founding in 1993, H.I.G. has led and completed more than 50 venture capital investments in the information technology sector (including semiconductor, enterprise and infrastructure software, storage networking, cable and broadband, and IT security), and in the life sciences and healthcare sectors.
Investors in H.I.G. Venture Partners II, L.P. included a number of leading institutions, university endowments, public and private pensions and investment firms, and consisted primarily of H.I.G.’s existing group of Limited Partners.
“The Southeast is home to a large and fast growing number of exciting emerging technology and life-sciences companies” said Mr. Tamer. “We look forward to continue backing talented entrepreneurs in this region and help them build market-leading businesses.”
“We are very pleased that our fundraising process went as smoothly as it did,” added Sami Mnaymneh. “We were able to close the fund in less than three months from the time we first announced it.”
About H.I.G. Ventures
H.I.G. Ventures is one of the largest and most successful venture capital firms in the Southeast United States. H.I.G. Ventures is focused on investments in emerging high-growth companies across the information technology and life sciences industries, in early-stage and mid-stage companies that have significant potential for growth and value creation. Our venture capital activities are based in the Atlanta and Miami offices of the firm.
About H.I.G. Capital
H.I.G. Capital is a leading private equity and venture capital investment firm with more than $2 Billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in promising early-stage high-growth companies and also in management-led buyouts and recapitalizations of profitable and well-managed manufacturing or service businesses.