Finback Investment Partners has raised its debut private equity fund, Finback Investment Partners 2021 Fund at $350 million. The fund, which was oversubscribed by exceeding its $250 million target.
Finback is led by former Florida governor Jeb Bush along with George Huber, Jack Oliver and Jeb Bush Jr. The fund expects to make between 10 and 12 investments, averaging between $20 million and $40 million in equity across the business services, information technology, education, healthcare, industrials, digital infrastructure and financial services sectors.
Finback will pursue investments that align with a positive social impact. “While it is not the only investment criteria, contributing private capital to address complex social problems will be a key tenet to Finback’s decision making,” the firm said in a release. “Through the investment process and portfolio management, the firm is confident it can drive successful outcomes for all stakeholders – investors, portfolio companies, employees, and communities.”
“We now look forward to putting this capital to work in partnership with world class private equity firms to drive value for our portfolio companies, our partners, and our LPs,” Bush said. “Our goal is to do all of this while making an important positive impact on society.”