Harbert Growth Partners
Description
Harbert Growth Partners, an affiliate of Harbert Management Corporation (HMC), is a prominent emerging growth-stage investor specializing in technology and healthcare companies. Based in Richmond, Virginia, the firm focuses on businesses that have moved beyond the seed stage, demonstrating proven products, initial revenue traction, and robust management teams. Their investment strategy targets companies poised for significant expansion, often participating in Series A, B, and C funding rounds, either as a lead investor or as part of a syndicate.
The firm's approach is characterized by providing more than just capital; they aim to be a strategic partner, leveraging their extensive network and operational expertise to help portfolio companies scale. Harbert Growth Partners seeks out opportunities where their capital can accelerate market penetration, product development, and team expansion. They are known for their long-term commitment to their portfolio companies, often making follow-on investments as companies grow and require additional capital.
Harbert Growth Partners has a strong track record, having invested in over 50 companies since its inception in 2000. Their latest fund, Harbert Growth Partners V, LP, successfully closed in 2022 with $240 million in commitments, underscoring their continued capacity and investor confidence. This follows their previous fund, Harbert Growth Partners IV, LP, which closed with $150 million in 2018. The firm's typical initial investment size ranges from $5 million to $20 million, with the flexibility to deploy additional capital over the life of an investment.
Investor Profile
Harbert Growth Partners has backed more than 85 startups, with 4 new investments in the last 12 months alone. The firm has led 36 rounds, about 42% of its total and boasts 26 exits across its portfolio.
Investment Focus Highlights
- Concentrates on Series B, Series C, Series Unknown rounds (top funding stages).
- Majority of deals are located in United States, Germany, Canada.
- Strong thematic focus on Software, Information Technology, SaaS.
- Led 4 rounds in the past year.
- Typical check size: $5M – $20M.
Stage Focus
- Series B (31%)
- Series C (25%)
- Series Unknown (15%)
- Series A (11%)
- Series D (7%)
- Private Equity (5%)
- Debt Financing (2%)
- Corporate Round (1%)
- Series E (1%)
- Convertible Note (1%)
Country Focus
- United States (96%)
- Germany (2%)
- Canada (1%)
Industry Focus
- Software
- Information Technology
- Saas
- Health Care
- Biotechnology
- Medical
- Internet
- Analytics
- Enterprise Software
- Cyber Security
Frequently Asked Questions
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