Gauge Capital has closed its first round of funding after raising $250 million.
The money, which exceeded Gauge’s fundraising goals, was accumulated through more than 15 investors, including endowments, institutional investors and CEOs. Co-founder and managing partnerDrew Johnson said he and his partners at Gauge made the most significant contributions to the fund.
With the cash, Gauge plans to invest in the food services, healthcare and business and consumer services sectors. Businesses must have $5 million to $50 million in earnings before interest, depreciation, taxes and amortization, or EBIDTA. Gauge then makes investments of $10 million to $50 million in each company.
“Our goal has been to find companies in those sectors, make investments and generate exceptional returns,” Johnson said.
Gauge already has made a $43 million investment out of the fund in Origami Owl, a company that allows individuals to sell their own jewelry. Three additional investments are around the corner.
“We have one under letter of intent in the healthcare services space,” Johnson said, but added that he can’t give details yet.
About Origami Owl
Origami Owl® Custom Jewelry began in 2010 when 14-year-old Founder Bella Weems had a simple dream of owning a car by the time she turned sixteen. She created a line of