Madison River Capital (MRC) has announced the close of its first institutional fund.
The fund, Madison River Capital Fund I, closed with more than $370 million of capital commitments.
MRC, founded in 2022 and based in New York, is a private equity firm focused on the lower middle market. The firm, which invests in healthcare and a few other industries, typically seeks to acquire or partner with companies with less than $20 million of EBITDA and provide $15 million to $60 million in equity for control buyouts and growth capital.