Small-cap investor Bowside Capital has closed its third fund on $37 million, according to a statement.
Bowside Capital Fund III surpassed its $30 million target and received commitments from endowments, family offices and high net worth individuals.
The fund will focus on the private small-cap market by investing as a fund of funds in US and Canadian private equity funds of $150 million or less. It will also make secondary purchases of limited partner interests and co-investments.
The fund has already been deployed in five transactions and is “actively” seeking new opportunities, according to the statement.
Bowside was founded in 2009 and closed its previous fund on $17.2 million in 2012.
The firm is based in Charleston, South Carolina and is led by managing partner Christian Albert, who previously founded management services company The Albert Group, according to the firm’s website.