Richmond private equity firm tops off $100M fund

Posted at 6:51 AM, Sep 15, 2023
and last updated 2023-09-15 07:05:50-04

RICHMOND, Va. -- A Scott’s Addition-based private equity firm has just capped off its biggest investment fund to date.

Blue Heron Capital recently closed out its third fund since its inception 10 years ago, raising $102 million for its Blue Heron Capital Fund III.

The seven-person firm’s previous two funds – Blue Heron Capital Fund I and II – gathered around $25 million and $32 million in investor capital, respectively.

With a new, much larger pool to work with, Tom Benedetti, a Blue Heron co-founder and managing partner, said the firm has been quick to deploy Fund III by sticking to its pattern of buying into mainly healthcare and software-related companies in need of growth capital.

Continue reading this story on Richmond BizSense.

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