Riverside Targets $1.5 Billion for Latest Microcap Fund

Lower midmarket private-equity firm Riverside Co. is aiming to collect $1.5 billion for its latest fund focused on backing smaller companies, according to people familiar with the fundraising.

If the firm reaches that goal, the fund would be about 25% bigger than its predecessor, Riverside Micro-Cap Fund V LP, which collected $1.2 billion in 2018 and closed at its hard cap. The firm, which operates from headquarters in New York and Cleveland, collected $650 million for its fourth microcap fund in 2016.

The Riverside Company is a global investment firm focused on being one of the leading private capital options for investors, business owners and employees at the smaller end of the middle market by seeking to fuel transformative growth and creating lasting value.