NewSpring Raises $250M For Third Growth Equity Fund

NewSpring Capital said it closed its third growth equity fund, NewSpring Growth Capital III, with total commitments of $250 million. The fund exceeded its target of $200 million and is larger than the firm’s $136 million first fund, NewSpring Growth Capital, and $163 million second fund, NewSpring Growth Capital II. The firm has combined assets under management of over $950 million.

Salveo Completes Additional Financings and Acquisition

Specialty pharmacy company Salveo Specialty Pharmacy has completed a second round of equity and debt funding and the subsequent acquisition of Mission Road Pharmacy. Salveo Specialty Pharmacy is backed by Three Arch Partners, NewSpring Capital and Petra Capital Partners. The additional equity financing was led by new investor Sofinnova Ventures. The debt financing included additional subordinated debt provided by Petra, as well as a new senior credit facility provided by Regions Bank.

LLR Partners Invests in Message Systems

LLR Partners, a middle-market private equity firm in Philadelphia, today announced it has invested in Message Systems, a 15-year-old, Columbia, Md.- based company that makes email software for marketers and big brands. The transaction returns some money to NewSpring Capital, which invested $6 million in Message Systems in 2010, though neither the amount that LLR […]

FirstBest Systems Raises $10M From Flybridge, NewSpring, Brookstone, Verisk

FirstBest Systems said it raised $10 million in funding in a round led by NewSpring Capital and joined by Verisk Analytics, Brookstone Partners and Flybridge Capital Partners. NewSpring General Partner Michael A. DiPiano has joined FirstBest’s board. PRESS RELEASE Insurance Software Provider FirstBest Systems Closes $10 Million in Growth Financing  NewSpring Capital Leads New Round to Fuel […]

FirstBest Nabs $10M Round

FirstBest Systems, Inc., the Massachusetts-based software provider for insurers, completed $10 million in funding from investors including NewSpring Capital, Verisk Analytics, Brookstone Partners and Flybridge Capital Partners. Michael DiPiano, general partner with NewSpring, will join FirstBest’s board. PRESS RELEASE: Insurance Software Provider FirstBest Systems Closes $10 Million in Growth Financing NewSpring Capital Leads New Round […]

Technology Crossover Ventures Backs iPipeline

Technology Crossover Ventures has put an undisclosed amount into iPipeline, a provider on-demand marketing, selling and processing technology. As a result, Technology Crossover Ventures general partner Robert Trudeau will join iPipeline’s board. iPipeline is also backed by NewSpring Capital and Volition Capital.

NewSpring Capital Strikes Salveo Specialty Deal–UPDATED

Salveo Specialty Pharmacy, a company formed to acquire and develop specialty pharmacies in the U.S., has struck a deal with NewSpring Capital for investment capital. Specifics of the deal were not publicized. Additionally, the company acquired Echo Specialty Pharmacy Services to enhance its development in the New York marketplace. Brian Murphy, NewSpring General Partner, will be joining the Board of Directors post-financing. Three Arch Partners and Petra Capital Partners also participated in the deal.

NewSpring Capital Backs Pharma Co

NewSpring Capital has backed Putney, a specialty pharmaceutical company focused on providing high quality, cost-effective generic medicines for pets. The financing round will provide Putney with the capital it needs to hire additional management talent, ramp up its product acquisition and licensing program, and transform Putney into a stronger R&D and commercial organization.

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