The Riverside Company has closed its latest fund on its hard cap of $350 million. Riverside Micro-Cap Fund III was oversubscribed.
RMCF III is a Small Business Investment Company (SBIC) and will back buyouts of fast-growing US companies with up to $5 million of EBITDA. RMCF III will combine its private capital with up to $150 million from the U.S. Small Business Administration for a total fund size of $500 million.
The RMCF fund family was launched in 2005. Since then, the funds have acquired 80 companies (39 platforms, 41 add-ons) and exited 12 portfolio companies.
The close of RMCF III follows two other Riverside fund closings. Riverside Capital Appreciation Fund VI and Riverside Asia-Pacific Fund II also closed above target.
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