Noro-Moseley closes $ 180 million fund – NMP VIII Closes Oversubscribed and Builds on IT, Healthcare Success

Noro-Moseley closes $180 million fund
NMP VIII Closes Oversubscribed and Builds on IT, Healthcare Success

ATLANTA, May 20, 2019 – NMP Management Corporation (“NMP” or the “Firm”), an Atlanta-based early growth equity firm, completed fundraising for its latest fund, Noro-Moseley Partners VIII, L.P. (“NMP VIII”).   NMP VIII closed oversubscribed at its hard cap of $180 million in capital commitments ($30 million over its target). NMP VIII investors include public and sovereign pension plans, leading health plans and health systems, foundations, endowments and family offices.

“We are excited to announce the final closing of our eighth fund. We are appreciative of the strong support from both our existing LPs and a number of new LPs,” said Allen Moseley, NMP’s Managing Partner. “We are proud of the strong team we have built at NMP and are committed to finding, investing in and growing exciting technology and healthcare businesses.”

NMP Fund VIII Focus
Continuing the Firm’s successful strategy of the two prior funds (NMP VI and NMP VII), NMP VIII will focus on information technology and healthcare businesses with rapidly scaling revenue, a capital-efficient model and a clear pathway to profitability, in geographies throughout the United States (excluding the West Coast). NMP VIII will make equity investments of $8-$10 million, and target companies that typically have between $2-$10 million of recurring revenue and annual growth rates above 50%. NMP VIII made its first investments in 2019, investing in BehaveCare, Inc., a care delivery platform for high-cost individuals in a health insurance plan based in Providence, RI, and Revenue Analytics, an Atlanta-based provider of predictive analytics solutions for pricing and revenue management.

“With NMP VIII, our strategy remains focused on identifying, investing in and working with market leading, high growth companies,” added NMP’s General Partner Alan Taetle. “We will continue serving founders and executive teams with our domain expertise, industry contacts and strategic relationships to enhance value and support growth companies’ needs.”

NMP Success
Since 1983, NMP has been a leader in its market, investing approximately $800 million in 200 companies. NMP has built a strong network of successful entrepreneurs, strategic partners, management talent and value-added co-investors to support its portfolio companies. Led by Moseley and Taetle, the Firm’s current investing team also includes General Partner Spence McClelland, Principal John Ale and Vice President Ryan Collins. Over the past 20 years, this team has invested in 65 companies. Furthermore, since 2013, this team has successfully exited 13 companies, with an aggregate exit value of $3.3 billion, including successful exits like Virtustream (Bethesda, MD), Wellcentive (Atlanta, GA), Clearleap (Atlanta, GA) and Network Medical (Birmingham, AL).

“We believe in our proven and differentiated investment strategy,” said Moseley. “We look forward to working closely with the entrepreneurial community, deal sources in our target markets of interest and strategic LPs to source and help grow exciting young companies with emerging market opportunities to drive strong returns to our LPs.”  

About NMP
NMP is an early growth equity firm backing high-growth businesses and leading entrepreneurs, investing nationally across healthcare IT, healthcare services, tech-enabled services, technology and financial services sectors. In addition to capital, the Firm’s goal is to help strong leaders succeed through team building, growth acceleration and domain expertise at key junctures during company growth stages.

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