EDG Partners, a private equity firm focused exclusively on the healthcare industry, announced today the closing of its second fund, EDG Partners Fund II, LP. The fund closed above target at $177.75 million
. The new fund brings the total capital managed by EDG Partners to over $260 million
. Touchstone Group, LLC provided fundraising support to the firm. EDG Partners, with offices near Atlanta
and Washington, DC
, is a private equity firm that provides capital, expertise, and relationships to enable small and middle market healthcare companies to achieve their potential.
The founders of EDG Partners, Steve Eaton, Alan Dahl, and Mike Gaffney, expressed their appreciation for the support and confidence demonstrated by their investors. Mr. Gaffney said, "We are pleased to announce the final closing of our second fund. We are grateful to our investors, and we thank them for their continued support. A singular focus on healthcare, our team's considerable investment and operating experience, and the demonstrated ability to partner with management teams to help companies grow will remain the core of our business strategy."
Founded in 2004, EDG Partners successfully invested Fund I and is already identifying opportunities to put Fund II resources to work. The firm seeks to invest in healthcare companies from all segments of the industry value chain, except those with FDA or medical research risk. EDG looks for companies with an established customer base, positive cash flow, and a scalable business model. Typical investments range from $5 million to $30 million in equity, but EDG has the ability and experience to provide significantly more capital.