Fort Point Capital, a private equity firm, has closed its FPC Small Cap Fund III LP and FPC Small Cap Fund III-A (collectively FPC III).

The fund closed at its hard cap of $340 million. Fort Point remains focused on the lower-middle-market, aiming to invest in companies with less than $100 million of enterprise value. The firm plans to continue investing in partnerships with strong management teams in business services companies with strong growth potential.

“Fort Point’s disciplined, institutional approach focused on the lower middle market and strong alignment in all of our relationships resonated with investors,” said co-founder and partner Paul Lipson. “There is no change to our focus in FPC III. Our willingness to aggressively invest in people, processes, and systems has resulted in a unique portfolio in our first two funds with demonstrated results.”

Forum Capital Securities LLC served as placement agent for FPC III, and Kirkland & Ellis LLP provided legal counsel.