Main Post Partners, a Weston Presidio spin-out based in San Francisco, closed its inaugural fund on its hard cap of $410 million and beating its $250 million target.
The fund raised $400 million in external commitments plus a $10 million commitment from the GP, according to a spokesman for Main Post.
Main Post will seek both majority and minority stakes in profitable, growing companies in the consumer, services and manufacturing sectors. It will target investments between $25 million to more than $75 million in companies with EBITDA between $5 million to $25 million.
“With a ‘partnership, not ownership’ approach, our success has been built alongside successful founders, entrepreneurs, and management teams, with significant contributions from our executive network,” Managing Partner Jeff Mills said in a statement.
Mills and Sean Honey lead Main Post, which they formed in 2014. They previously managed Weston Presidio’s consumer, business services and industrial sectors practice.
The fund already has three investments in its portfolio: Arch Manufacturing, Chuze Fitness and EagleRider.
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