MIAMI, Sept. 14, 2021 /PRNewswire/ -- Finback Investment Partners announced today that it has successfully closed on its debut private equity fund, raising $350 million from limited partners. The firm, co-founded by former Florida Governor Jeb Bush, will focus on investing in companies that use private capital to solve public sector challenges.
Finback Investment Partners LLC, a private-equity firm co-founded by former Florida Gov. Jeb Bush, has closed on $350 million for its debut fund. The firm will focus on investing in companies that use private capital to solve public sector challenges.
According to ImpactAlpha, the former Florida governor's new firm will focus on investing "private capital to solve public sector challenges." The firm will invest in companies that have a strong track record of delivering positive social impact while also generating strong financial returns.
What's a bigger marketing engine for a private equity firm than a famous face to attract limited partners? That's exactly what Jeb Bush's involvement in Finback Investment Partners is doing for the firm. With his political background and reputation for fiscal conservatism, Bush is seen as a valuable asset to the firm's fundraising efforts.
In recent news, Finback Investment Partners held talks with the owners of Israeli spyware company NSO Group over a deal that would have seen the former Governor's firm invest in the controversial firm. While it is unclear if the talks are still ongoing, the potential investment would have raised eyebrows due to NSO Group's reputation for creating spyware that can be used to hack into smartphones and other devices.
One of Finback Investment Partners' portfolio companies is Evolv, a Waltham, Mass.-based human security company that raised over $30 million in Series C funding. The company's technology is an alternative to traditional, "one-person-at-a-time" metal detectors for weapons, using AI and other advanced technologies to scan people and their belongings in real-time.
Another portfolio company is Equality Health, a leading value-based care organization that is uniquely equipped to address the needs of diverse and historically underserved populations. The company recently received an infusion of capital from Finback Investment Partners to accelerate its national expansion.
In conclusion, Finback Investment Partners' successful debut fund closing and portfolio of companies demonstrate the firm's focus on investing in socially responsible businesses that also generate strong financial returns. With Jeb Bush's involvement as a co-founder and well-known face, the firm has the potential for significant growth and success in the private equity industry.
