Northgate Capital

Northgate Capital was a prominent global private equity firm founded in 1999, known for its dual investment strategy. The firm engaged in direct investments in expansion-stage high-tech startups, alongside managing venture capital and private equity fund-of-funds. Its direct investment arm focused on growth equity, participating in significant later-stage funding rounds for promising technology companies. Notable historical investments include participation in a $150 million Series D round for Box and a $33 million Series F round for Xoom, showcasing their involvement in substantial growth-stage capital raises.

In 2014, Northgate Capital was acquired by Capital Dynamics, a global private asset management firm. Following the acquisition, Northgate's operations and expertise, particularly in venture capital and growth equity, were progressively integrated into Capital Dynamics' broader private equity solutions. While the Northgate brand continues to be recognized for its historical contributions and venture capital legacy, direct investments are now primarily conducted under the Capital Dynamics umbrella.

This integration means that Northgate Capital no longer operates as a distinct, independent entity making direct investments with its own specific first check sizes. Historically, for its direct investments in expansion-stage high-tech startups, Northgate Capital typically focused on growth equity rounds. While specific "first check" sizes varied based on the opportunity and syndication, their participation in multi-million dollar rounds suggests initial investments often ranged from approximately $5 million to $25 million or more, depending on their role in the round (lead or participant). However, as of its full integration into Capital Dynamics, the concept of a distinct "Northgate Capital" first check size is no longer applicable.