CHARLOTTE, N.C. – Frontier Capital, a growth equity firm, has closed on its third fund which totals $250 million.
The initial target for the fund was $200 million.
The firm has already invested $50 million from its Frontier Fund III over the past 15 months with deals in:
- Celergo, a payroll services company
- Healthrx, an online healthcare services portal
- eVerifile, a provider of employment related services
“We are thrilled by the continued support we’ve received from our existing partners and very pleased to welcome several strong additions to our investor base,” said Richard Maclean, Frontier’s managing partner. “Our success in raising Fund III is a testament to our focused approach and the strength and quality of our team.”
Frontier, which launched in 1999, focuses on firms with revenues of between $5 million and $30 million. Investments range from $5 million to $25 million.