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Beringea's private equity funds target a particular industry that is undergoing change and offers superior opportunity. Each of these funds is managed by a distinct group of industry specialists. InvestCare Partners, founded in 1999, provides equity to medium-sized, privately owned healthcare businesses located in the U.S. The fund invests in mid-to-late stage companies mainly in the Medical Devices, Medical Technology, and Healthcare Services sectors. InvestCare will typically invest $2 million to $5 million in a company. The Global Rights Fund II, Beringea's media and content fund, invests in U.S. and U.K. media, content, brands, enabling technology, and intellectual property rights. The Global Rights Fund II will typically invest $1 million to $5 million per company, in all stages. Funds managed in the UK include: ProVen Venture Capital Trust; ProVen Growth and Income Venture Capital Trust; and ProVen Health Venture Capital Trust. In 2008, InvestMichigan! Growth Capital Fund was launched to invest in companies that are located or are relocating to Michigan. The fund focuses on expansion and small buyout stage companies in advanced materials and manufacturing, healthcare and biotechnology, media, communications, homeland security, IT, specialized consumer goods, and clean technology. InvestMichigan! typically invests $2 million to $9 million. The InvestMichigan! Mezzanine Fund was formed in partnership with the U.S. Small Business Administration and targets investment opportunities in lower middle market Michigan companies. Investments are made across a broad range of sectors, including industrial manufacturing, business services, health care, technology, and consumer products. The InvestMichigan! Mezzanine Fund invests $5 million to $15 million in cash flow-positive companies headquartered in Michigan, with revenues between $5 million and $100 millions and EBITDA up to $20 million. The firm typically invests between $2-10 million in preferred equity in the US.
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