NORTHSTAR CAPITAL
NORTHSTAR CAPITAL is a Series C+ and buyout fund in the US and Canada writing $5M–$50M checks into Consumer, Healthcare, industrials, business-services, food-and-agriculture, outsourcing and distribution.
- Stages
- Series C+, buyout
- Sectors
- Consumer, Healthcare, industrials, business-services, food-and-agriculture, outsourcing, distribution
- Check size
- $5M–$50M
- Invests in
- US-wide, Canada
- Actively investing
- Yes
- Founded
- 1993
- Assets under management
- $530M
- Website
- northstarcapital.com
Thesis
Northstar Capital is a Minneapolis-based investment firm founded in 1993, specializing in providing flexible credit solutions and equity co-investments to lower middle market companies. They target companies with an EBITDA of at least $3 million and focus on providing junior capital for private equity transactions, including leveraged buyouts, recapitalizations, add-on acquisitions, refinancings, and growth capital. The firm is a generalist investor across various industries such as healthcare, industrials, consumer, business services, food and agriculture, outsourcing, and distribution, with thematic focuses on channel disruption, infrastructure, and sourcing. Their geographic scope is primarily the United States and Canada. Northstar Capital does not invest in start-ups, real estate development, natural resource exploration, or high-technology companies. As of September 2025, their latest parallel fund strategy closed with a combined $530 million in committed capital. Typical investment sizes range from $5 million to $30 million for subordinated debt, up to $50 million for unitranche, and up to $15 million for equity co-investments, in businesses generating sales of $20 million to $200 million.
Common questions
Does NORTHSTAR CAPITAL invest at the Series C+ stage?
Yes. NORTHSTAR CAPITAL lists Series C+ and buyout among the stages it invests in.
What check size does NORTHSTAR CAPITAL write?
NORTHSTAR CAPITAL writes $5M–$50M checks.
Where does NORTHSTAR CAPITAL invest?
NORTHSTAR CAPITAL invests in the US and Canada.