ABS Capital Partners, a leading later-stage growth company investor, today announced it closed its sixth fund, ABS VI, at $420 million. The strategy for ABS VI will continue with the same successful approach the firm has deployed since its founding in 1990, investing in the very best later-stage growth companies and partnering with CEOs to take the company to its next critical stage of success.
Commenting on the fund closing, Phil Clough, Managing General Partner of ABS Capital said, “We are glad that limited partners continue to be enthusiastic about our strategy and share our view that it is a good time to invest. We look forward to continuing to find interesting growth companies and work with the CEOs and their teams to fully realize their opportunity.”
With more than $2 billion raised since inception, ABS Capital Partners invests in later-stage growth companies in the business services, healthcare, media and communications, and software sectors. ABS Capital Partners has actively managed exits of more than 50 companies including American Public Education, Inc. (NASDAQ:APEI), NeuStar, Inc. (NYSE:NSR), and most recently Rosetta Stone, Inc. (NYSE:RST).
ABS VI has already invested in four companies to date: Zoom Media, Inc., a targeted and digital out of home media company; Liquidity Services, Inc., a former ABS Capital portfolio company and a leading online auction marketplace for wholesale surplus and salvage assets; O4 Corporation, a leading provider of mobile sales force automation solutions for retail execution; and Tarpon Towers LLC, wireless communications tower company.
“While the economy is uncertain, we do see many CEOs playing offense in this environment and taking the opportunity to increase market share, make investments in their business or acquire other companies. We are pleased to have fresh capital to deploy in this environment,” said
Limited Partners in ABS VI consist largely of long-time investors in previous funds, including public pension funds, endowments, foundations, and family offices such as Pennsylvania State Employees Retirement System, Partners Healthcare and new top-tier LPs including, Abbott Capital and WP Global Partners.