River Cities Capital closes largest fund to date, celebrates 20th anniversary
River Cities Capital Funds (RCCF), a growth equity firm investing in high-potential health care and IT companies, announced today the final closing of its fifth fund. The RCCF Fund V capped at $200 million, surpassing its $150 million goal, with the continued support from many longtime limited partners as well as new participation from several large national and international institutions. The firm, based in Cincinnati and Raleigh, N.C., has raised more than $500 million to date.
“With Fund V, we’ll continue to build market-segment leaders that combine disruptive technologies, innovative business practices and disciplined sales and marketing expansion to become frontrunners in their target markets,” says Dan Fleming, managing director of RCCF.
The Fund V portfolio includes three companies to date: Trax Technologies, a Saas provider of logistics-spend management solutions; TissueTech, a pioneer in regenerative tissue-based products; and StepLeader, a business-to-business provider of mobile technology platform and data-driven mobile ad networks for local media outlets. With robust deal flow and fundraising completed, new investment activity is expected to accelerate over the coming year.