
Riverside Partners has announced the close of its fourth fund at $406 million — just over the $400 million mark it set in filings first reported in Mass High Tech last month.
The Boston-based private equity firm invests in middle-market and growth-stage companies in health care and technology. According to a press release today, most of the institutions that invested in the firm’s third fund returned to back Riverside Fund IV, and the new vehicle attracted new limited partners, as well. The firm’s third fund closed in 2006 at $225 million.
Riverside currently invests in companies with revenues between $20 million and $200 million and with $5 million to $25 million in earnings before interest, taxes, depreciaton and amortization.
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