NEXTGEN GROWTH PARTNERS, LLC

Thesis

NextGen Growth Partners (NGP), founded in 2016 and based in Chicago, is a private equity firm employing an Entrepreneurship Through Acquisition (ETA) model. Their strategy focuses on partnering with entrepreneurial talent to identify, acquire, and operate lower middle-market businesses, primarily in mission-critical B2B services with recurring revenue. NGP targets companies with revenues between $5 million and $50 million and EBITDA between $2 million and $8 million+, with preferred sectors including facilities services (landscaping, HVAC), niche contracting, professional/technical services, and business process outsourcing. This hands-on, legacy-preserving model differentiates them from traditional PE firms. NGP has raised multiple funds, with Fund III closing at $165 million in August 2024, Fund II around $100 million in 2021, and Fund I around $50 million in 2018. As of December 31, 2025, they managed approximately $293.7 million in regulatory assets, with total AUM reported at $294 million. While specific check sizes are not detailed, their target company profile suggests investments in the lower to mid-seven figures, potentially extending into the low eight figures.

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