NovaQuest Private Equity has reached its hard cap of $275 million in capital commitments for a new private equity (PE) fund, according to a news release.
NovaQuest Private Equity Fund I targets tech-enabled healthcare solutions and pharmaceutical services investments.
NovaQuest Private Equity is the PE group of NovaQuest Capital Management. Based in Raleigh, N.C., and formed in 2000, NovaQuest Capital Management provides strategic capital to life science and healthcare companies.
The firm stated it has already completed three platform investments and two add-on acquisitions out of its new PE fund, including investments in Azurity Pharmaceuticals, Clinical Ink and Catalyst Clinical Research.