September 29, 2022
Fort Point Capital (“Fort Point” or “FPC”) is pleased to announce the closing of its third private equity investment fund, FPC Small Cap Fund III, LP and FPC Small Cap Fund III-A, LP (collectively, “FPC III”). Fort Point began fundraising in March 2022 with an initial target of $250 million and was oversubscribed, closing at the offering’s hard cap of $340 million. With the closing of FPC III, Fort Point Capital has raised more than $630 million since the firm’s founding in 2011.
“We appreciate the continued support of our existing investors and are grateful for the strong interest from the new limited partners joining us in FPC III,” said Co-Founder and Partner Brooke Ablon. “Fort Point continues to attract high-quality investors whose partnership is essential to the success of our firm.”
Fort Point remains dedicated to the lower middle market with a service oriented growth-focused approach targeting companies with less than $100 million of enterprise value. Fort Point is well-positioned to continue investing in partnership with strong management teams in business services companies with attractive fundamental attributes and strong growth potential.
“Fort Point’s disciplined, institutional approach focused on the lower middle market and strong alignment in all of our relationships resonated with investors,” said Co-Founder and Partner Paul Lipson. “There is no change to our focus in FPC III. Our willingness to aggressively invest in people, processes, and systems has resulted in a unique portfolio in our first two funds with demonstrated results.”
Since inception, FPC has acquired 13 platforms and closed 21 add-on investments enabling its platform companies to significantly scale. Fort Point now has 11 team members in Boston to support its continued growth.
“Entering our eleventh year since raising FPC I, we are proud of the team we’ve built at Fort Point and the strong relationships formed with our portfolio companies,” said Partner Christina Pai. “We look forward to the new management partnerships we will create in FPC III. Our goal is to continue to utilize our experience and network of resources to enable more companies to achieve their growth objectives.”
Forum Capital Securities LLC served as the exclusive placement agent for FPC III, and Kirkland & Ellis LLP provided legal counsel.