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HarbourVest Partners is a global private equity investment firm founded in 1997 to assume the business of Hancock Venture Partners, Inc., which was formed in 1982. The firm currently has approximately $76B under management. HarbourVest invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also directly in operating companies. HarbourVest invests in late stage venture, growth equity, leveraged buyouts and recapitalizations, and mezzanine. For late stage venture investments, HarbourVest Partners looks for IT-oriented companies in the U.S. and Western Europe with a minimum of $5 million in LTM revenue and no significant customer concentration. For growth equity investments, HarbourVest Partners look for companies with revenues between $10 million and $75 million with a proven business model and product/ service acceptance. The firm's programs can invest anywhere from $5 million to $40 million per transaction. HarbourVest International Private Equity Partners IV was formed in 2002 with $2.8 billion of capital, including $2.4 billion for partnership investments and $375.0 million for direct investments. This fund is currently in an active investment mode. HarbourVest is also an active supplier of mezzanine capital and the firm's programs can invest anywhere from $5 million to $20 million per transaction. The firm typically makes investments in partnerships up to $80 million, and is able to structure purchases ranging from $1 million in a single fund to over $1 billion when dealing with a portfolio of assets. HarbourVest Partners employs over 500 people in 13 locations, with 23 languages spoken. The firm announced the final close of its twelfth flagship US fund, HarbourVest Fund XII, which closed above its $2.0 billion target at over $3.0 billion, including the General Partner commitment. Over the past 40 years, HarbourVest has invested over $134 billion in global primary, secondary, direct co-investments, infrastructure and real assets, and private credit.
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