A regulatory filing indicates that the Los Angeles-based firm is seeking $450 million, but that appears to be a hard cap rather than a target.
Marlin has a broad investment strategy, with a willingness to invest in companies with between $20 million and $1 billion in revenue.
Deals this year include:
• Servigistics, an Atlanta-based provider of strategic service management software;
• The battery systems business of Tyco Electronics, a $25 million deal;
• MDeverywhere Inc., a Hauppauge, N.Y.-based provider of SaaS for physician revenue cycle management;
• Qwik+Cross, a provider of clearinghouse services for Medicare claims to supplemental insurance carriers;
• Three software units from Requisite Technology, formerly known as Click Commerce; and
• Emptoris Inc., a Sunnyvale, Calif.-based provider of enterprise supply and contract management software.
Marlin raised $300 million for its second fund in 2006, and $64 million for its debut fund in 2005.
Limited partners include DuPont Capital Management, Private Advisors and The Robert Wood Johnson Foundation.
Probitas Partners is serving as placement agent on the third fund. —Dan Primack