eQ Asset Management closes 5th N. American lower middle market fund

eQ Asset Management recently announced the successful final close of its fifth North American lower middle market fund, eQ PE XV US, amassing a total of $283 million. This achievement, marking the final close on November 30, 2023, brings the cumulative capital raised for eQ's US lower middle market funds since 2015 to an impressive $1 billion. The special investment fund, eQ PE XV US, is dedicated to supporting private equity funds focusing on investments in US and Canadian lower middle market companies. Managed by eQ, with RCP Advisors serving as the investment advisor for all five eQ PE US funds, the portfolio is set to encompass 11-12 funds, providing diversified exposure to approximately 200 portfolio companies across various sectors and geographies.

In addition to this milestone, eQ has initiated fundraising for its second venture capital fund, eQ VC II, securing $20 million in the first close. The fund, which will continue fundraising in 2024, aims to support both early and late-stage venture capital funds investing in over 500 technology companies, predominantly in the US. These developments reflect eQ Asset Management's strategic expansion and commitment to fostering growth in the North American market.