Firm: Ironwood Capital Advisors
Fund: Ironwood Mezzanine Fund II
Target: $150 million (including SBIC money)
Amount Raised: $150 million (including SBIC money)
The Boston-based firm in December held a second close on $150 million, including leverage from the Small Business Investment Company program, for
Ironwood Capital set out to raise $50 million in equity and borrow $100 million more from the SBIC program. A year ago, Buyouts reported a first close on $31 million in equity, and at the time the firm’s president, Marc Reich, said Ironwood Capital hoped to hit the $50 million mark by early second quarter of 2007.
Ironwood Capital collected money from at least eight limited partners, including
The firm takes minority stakes business services, consumer products and health care companies. Ironwood Capital expects to invest in between 22 and 25 companies with the second fund.—J.H.