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WestView Capital Raises $1 Billion for Fifth Growth Equity Fund
BOSTON, January 17, 2023-- WestView Capital Partners (“WestView”), a Boston-based growth equity firm, today announced the closing of its fifth fund, WestView Capital Partners V, L.P. (“Fund V”). Fund V was oversubscribed and closed at its target and hard cap of $1.0 billion of limited partner commitments. WestView has now raised $2.7 billion since its founding in 2004. Fund V will continue to focus on WestView’s strategy of partnering with exceptional management teams by making minority and majority investments in leading growth companies.
“We appreciate the strong support from our investors and look forward to continuing to execute on our control-agnostic investment strategy of partnering with outstanding management teams and employing flexible investment structures,” said Managing Partners Carlo von Schroeter, Rick Williams, Matt Carroll and Jonathan Hunnicutt. “We are extremely proud of the entire WestView team and the management teams we partner with who have driven the success we have achieved as a firm.”
Since its founding, WestView has invested in 54 companies and has had 32 realizations representing over $2.2 billion in cash proceeds. Fund V will make minority and majority investments in growth companies that are typically founder owned and managed and have not previously raised institutional capital. WestView will target investments in business services, IT services, healthcare technology and outsourcing, software, and growth industrial companies.
WestView launched fundraising in September 2022 and received strong support from its existing investor base, while also adding a limited number of new institutional investors. Investors in Fund V include a stable and diverse base of prominent institutions comprised of endowments, pension funds, foundations, fund of funds and family offices as well as over 40 former and current WestView portfolio company executives.
Goodwin Procter advised WestView on the fund formation.
About WestView Capital Partners
WestView Capital Partners, a Boston-based growth equity firm, is focused on middle market growth companies and manages $2.7 billion in capital across five funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth capital, and consolidation transactions in several sectors including: business services, IT services, healthcare technology and outsourcing, software, and growth industrial. WestView targets investing $20 to $100 million in companies with revenue of at least $10 million and operating profits between $3 and $25 million. For more information, please visit www.wvcapital.com.