MidCap Financial logo

MidCap Financial

North America, Maryland, United States, Bethesda

Description

MidCap Financial, a prominent specialty finance firm, operates as a subsidiary of Apollo Global Management, a leading global alternative investment manager. Headquartered in Bethesda, Maryland, MidCap Financial is a dedicated provider of senior debt solutions primarily to companies within the middle market across the United States and Europe. Their core mission revolves around offering flexible and tailored financing structures to support a diverse range of corporate needs, including acquisitions, recapitalizations, growth initiatives, and working capital requirements.

The firm's investment strategy is characterized by its broad industry coverage and a comprehensive suite of debt products. MidCap Financial serves sectors such as healthcare, technology, life sciences, general industrials, and financial sponsors, demonstrating a versatile approach to lending. They offer various debt instruments, including revolving lines of credit, term loans, unitranche facilities, and last-out facilities, enabling them to customize solutions that align with the specific operational and strategic objectives of their portfolio companies. This flexibility positions them as a key partner for businesses seeking robust and adaptable capital solutions.

With a substantial capital base, MidCap Financial has established itself as a significant player in the direct lending space. As of recent reports, the firm manages assets exceeding $25 billion, underscoring its capacity to deploy substantial capital. Their typical senior debt facilities generally start from $10 million and can extend to over $1 billion for larger transactions, catering to a wide spectrum of middle-market companies. This extensive range allows them to support both smaller, rapidly growing enterprises and larger, more established businesses, providing critical financing that often fills the gap left by traditional banking institutions.

MidCap Financial's deep industry expertise, coupled with its strong relationship with Apollo Global Management, provides it with a competitive edge. They are known for their efficient execution and a partnership-oriented approach, working closely with management teams and financial sponsors to structure optimal financing solutions. Their focus on senior secured debt aims to provide downside protection while supporting the growth trajectories of their borrowers, making them a reliable and strategic capital provider in the dynamic middle-market landscape.

Investor Profile

MidCap Financial has backed more than 57 startups, with 3 new investments in the last 12 months alone. The firm has led 38 rounds, about 67% of its total and boasts 37 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Post Ipo Debt, Debt Financing, Series A rounds (top funding stages).
  • Majority of deals are located in United States, Canada, United Kingdom.
  • Strong thematic focus on Health Care, Biotechnology, Medical.
  • Led 3 rounds in the past year.
  • Typical check size: $10M – $1000M.

Stage Focus

  • Post Ipo Debt (51%)
  • Debt Financing (39%)
  • Series A (4%)
  • Series Unknown (4%)
  • Series E (2%)
  • Series D (2%)

Country Focus

  • United States (89%)
  • Canada (5%)
  • United Kingdom (4%)
  • Australia (2%)

Industry Focus

  • Health Care
  • Biotechnology
  • Medical
  • Medical Device
  • Manufacturing
  • Therapeutics
  • Pharmaceutical
  • Financial Services
  • Software
  • Health Diagnostics
circle-line
FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does MidCap Financial frequently co-invest with?

Castlelake
North America, Minnesota, United States, Minneapolis
Co-Investments: 1
Claremont Creek Ventures
North America, California, United States, Oakland
Co-Investments: 1
Benevolent Capital
North America, California, United States, Venice
Co-Investments: 1
KI
North America, Ontario, Canada, Toronto
Co-Investments: 1
Silicon Valley Bank
North America, California, United States, Santa Clara
Co-Investments: 9
MidCap Financial Investment
North America, New York, United States, New York
Co-Investments: 2
White Star Capital
North America, New York, United States, New York
Co-Investments: 1
Apollo
North America, New York, United States, New York
Co-Investments: 1
Foresite Capital
North America, California, United States, San Francisco
Co-Investments: 1
Oxford Finance LLC
North America, Virginia, United States, Alexandria
Co-Investments: 4

What are some of recent deals done by MidCap Financial?

Evolv Technology

Waltham, Massachusetts, United States

Evolv Technology an AI-enabled touchless security screening system that uses digital sensors and artificial intelligence to detect threats.

Artificial Intelligence (AI)Intrusion DetectionMachine LearningPhysical Security
Post Ipo DebtJul 30, 2025
Amount Raised: $75,000,000
NeuroPace

Mountain View, California, United States

NeuroPace develops and markets implantable devices for the treatment of neurological disorders.

Health CareManufacturingMedical DeviceNeuroscience
Post Ipo DebtJun 4, 2025
Amount Raised: $75,000,000
Urgently

Vienna, Virginia, United States

Urgently features a roadside assistance industry to the benefit of global brands and roadside assistance professionals.

AutomotiveEnterprise SoftwareMobile AppsSoftware
Post Ipo DebtFeb 26, 2025
Amount Raised: $20,000,000
Arq

Highlands Ranch, Colorado, United States

Arq is a diverse environmental technology firm.

ChemicalClean EnergyEnvironmental Engineering
Post Ipo DebtDec 27, 2024
Amount Raised: $30,000,000
Regis Corporation

Minneapolis, Minnesota, United States

Regis Corporation is an American operator of hair salons, and such chain in the world, with over 10,000 salons.

BeautyConsumerCosmetics
Post Ipo DebtJun 25, 2024
Amount Raised: $105,000,000
Xtant Medical

Belgrade, Montana, United States

Xtant Medical is a medical technology company focused on surgical solutions for the treatment of spinal disorders.

Health CareManufacturingMedicalMedical Device
Post Ipo DebtMar 7, 2024
Amount Raised: $17,000,000
OrthoPediatrics

Warsaw, Indiana, United States

OrthoPediactrics is a medical device company that develops and manufactures orthopedic implants for pediatric orthopedic surgeons.

BiotechnologyHealth CareMedicalMedical Device
Post Ipo DebtJan 8, 2024
Amount Raised: $80,000,000
Express Wash Concepts

Etna, Ohio, United States

Express Wash Concepts is more than a car wash and emphasis on providing the best customer service and high-quality wash experience.

AutomotiveCustomer Service
Debt FinancingOct 10, 2023
Amount Raised: $150,000,000
Strata Skin Sciences

Horsham, Pennsylvania, United States

Strata Skin Sciences is a medical technology company that specializes in dermatology and plastic surgery.

Health CareMedicalMedical Device
Post Ipo DebtJul 6, 2023
Amount Raised: $12,000,000
Marco

Miami, Florida, United States

Marco provides a tech-enabled financing platform designed for small and medium-sized businesses.

Commercial LendingFinancial ServicesFinTechTrading Platform
Debt FinancingFeb 27, 2023
Amount Raised: $200,000,000