11 Jan Firmament Announces Final Closing of $475 million Third Fund and Geographic Expansion
NEW YORK, Jan. 10, 2022 /PRNewswire/ — Firmament, a structured equity capital provider to small- and medium-sized enterprises (“SMEs”), today announced the final close of its third investment vehicle, Firmament – Structure III (“Fund III”) at $475 million of total capital, thanks to the strong support from Firmament’s existing limited partner base and new commitments from institutional investors. Firmament has been active in deploying Fund III to-date, with nearly two-thirds of total capital invested in platform investments in its focus industries, including the dental industry (Independence Dental https://independencedso.com/), the cybersecurity industry (CyberPoint https://www.cyberpointllc.com/index.php), the nurse staffing industry (PRN Health Services https://www.prnhealthservices.com/), the childcare software industry (Controltec https://controltec.com/), and the orthopedic health industry (M2 Orthopedics https://www.m2orthopartners.com/), among others.
Firmament also recently expanded its geographic footprint with the opening of three new locations led by key members of the firm. Ted Wong, who leads technology and software investing, recently opened Firmament’s Miami, FL office. Brian Peters, who leads business services investing for Firmament, recently opened the Chicago, IL office. Green Campbell, who leads healthcare investing, recently established Firmament’s Nashville, TN office. These maneuvers are part of Firmament’s overall effort to sharpen its industry focus in markets where we expect to generate substantial deal flow.
Firmament also announced a revamp of its brand strategy, which included the shortening of the firm name from “The Firmament Group” to “Firmament”, the launch of its new website www.firmament.com, and the development of its new logo, which was designed to evoke Firmament’s core values of trust, vision and stewardship. Firmament was also honored to be the recipient of the U.S. Small Business Administration’s Small Business Investment Company of the year award for 2021.
Firmament’s Founding Partner Christopher Smith commented, “We appreciate the continued support from our investor base and the strong interest from our new partner relationships. We’re excited to launch Fund III and to continue to serve businesses in the lower-middle-market, where a need for integrated financial solutions is increasingly required.”
Firmament (www.firmament.com) provides structured equity capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament concentrates on software and services businesses with significant scaling potential in the healthcare, logistics, wellness and environmental sectors. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business.
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