With plans to target healthcare, venture capital firm Northrim Horizon closed on $153 million in financing in its second fund.
Fund II was oversubscribed, surpassing its target of $120 million and exceeding the size of its predecessor fund by over 300%. Consistent with the strategy of Fund I, Fund II will focus on partnering with well-run, profitable, enduring platforms within attractive sub-sectors, including business services, software and tech-enabled services and healthcare services, Northrim said in a press release.
Northrim targets mature and cash-generative businesses with earnings before interest, taxes, depreciation and amortization between $1 million and $5 million. Read more.
