RICHMOND, VA--(Marketwired - August 03, 2017) - Harbert Growth Partners IV, L.P. ("HGP IV" or the "Fund"), which invests in promising emerging growth stage technology and healthcare companies, is pleased to announce its final close, bringing the total equity commitments to HGP IV to $120 million. HGP IV, which includes significant institutional and family office investors from across the United States, represents the largest of the Harbert Growth Partners Funds to date, up materially from Harbert Venture Partners III, L.P. which had total equity commitments of approximately $78 million.

"We are excited to announce the final close of HGP IV," said Wayne Hunter, Managing Partner of the Harbert Growth Partners Funds. "We are pleased and grateful for the strong support from both previous fund investors and new investors to HGP IV. With six investments already completed and a robust pipeline, the Fund is off to a great start. The Fund's six investments to date -- Cloud Elements, Envera Health, MapAnything, Shipt, Sidecar Interactive, and Springbot -- are all led by exceptional management teams, growing very rapidly and are leaders in the emerging sectors in which they operate."

Since 2004, the Harbert Growth Partners Funds have invested in 40 healthcare and technology companies and have successfully led exits to well known domestic and international funds and corporations including Amazon, AtriCure, GE, General Catalyst, GlaxoSmithKline, Insight Venture Partners, Royal Philips N.V., Sophos, and Summit Partners, among others.

About Harbert Growth Partners

The Harbert Growth Partners Funds are Virginia-based growth equity funds focused on investing in exceptional management teams and companies with leadership positions in high growth markets. The Harbert Growth Partners Funds are affiliates of Harbert Management Corporation ("HMC"), an alternative asset management firm which manages approximately $5.1 billion in Regulatory Assets Under Management as of July 31, 2017, from offices in 11 locations across the United States and Europe. HMC is a privately-owned firm formed in 1993 to sponsor alternative asset investment funds. HMC serves foundations and endowments, funds of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. Additional information about HMC can be found at www.harbert.net.