Private equity company Midwest Growth Partners (MGP), located in Iowa, announced the successful conclusion of the fundraising for its third investment fund. The company raised an astounding $170 million, surpassing its original fundraising target and making it its most successful campaign. Since its founding in 2013, MGP has acted as a dependable partner for established lower-middle market businesses looking for expansion capital or liquidity for succession planning. In addition, the company has contributed to the expansion and professionalization of MGP’s partner firms while generating value for investors with a team of hands-on specialists with agricultural backgrounds and an unmatched spectrum of expertise.
Over $140 million has been directly invested in 29 private enterprises to date amongst MGP’s three funds. Additionally, MGP assisted in bringing together additional private co-investment funds totaling more than $500 million inside those agreements. Since completing Fund III, MGP has invested in the US manufacturing, distribution, and food and agricultural sectors—often in neglected, rural areas. The company and its backers contribute to the American economy by investing in successful businesses ranging from $500,000 to $20 million. These investments foster expansion, create jobs, elevate firms to a higher level of professionalism, and support succession planning for retiring business owners.
Due to the MGP team’s dedication and its investors’ support, MGP expects to use Fund III to make 10 to 15 investments over the following five years. The company cultivates close bonds with its broad group of investors, which includes Farm Credit System participants, family offices, commercial banks, businesses, trade associations, and prosperous people. “Closing our third and largest fund is a huge milestone, and we’re looking forward to the next chapter,” said John Mickelson, Co-Founder, and Managing Partner at Midwest Growth Partners.
The success of Fund III is a testament to MGP’s reputation as a reliable partner for established companies looking for growth and professionalization. In addition, MGP’s continued investment in rural, underserved areas will undoubtedly positively impact local economies and create opportunities for growth and success.