Tonka Bay announces third private equity fund

Minnesota-based Tonka Bay Equity Partners LLC has announced the availability of a new $150 million investment fund.  The private equity firm, which has invested in several Iowa companies through the Iowa Fund of Funds program, acquires and invests in lower middle market businesses in three broad sectors: highly engineered manufacturing, value-added distribution and business services. This latest fund is Tonka Bay’s third in a series of investment funds formed since the firm’s founding in 1998. Tonka Bay raised more than $60 million of private capital from institutional and high-net-worth investors for the fund, and plans to leverage the fund to $150 million through the Small Business Investment Corp. (SBIC) program.  For more information, visit  www.tonkabayequity.com. 

 

Minnesota-based Tonka Bay Equity Partners LLC has announced the availability of a new $150 million investment fund.  The private equity firm, which has invested in several Iowa companies through the Iowa Fund of Funds program, acquires and invests in lower middle market businesses in three broad sectors: highly engineered manufacturing, value-added distribution and business services. This latest fund is Tonka Bay’s third in a series of investment funds formed since the firm’s founding in 1998. Tonka Bay raised more than $60 million of private capital from institutional and high-net-worth investors for the fund, and plans to leverage the fund to $150 million through the Small Business Investment Corp. (SBIC) program.  For more information, visit  www.tonkabayequity.com.