HGGC is a leading middle-market private equity firm in Palo Alto, California. Originally established in 2007 under the name H&G Capital Partners, the firm currently has about $4.3 billion in cumulative capital commitments. The firm rebranded itself to HGGC in 2013, making some top management changes along the way. They were named the 2014 M&A Mid-Market Private Equity Firm of the Year by Mergers & Acquisitions magazine, and is currently led by private equity executive and CEO Richard F. Lawson, Jr.
The firm mainly focuses on technology investments, though it also has investments in business and financial services, as well as consumer, and industrials. It specializes in leveraged buyouts, recapitalization, growth equity in the middle market and mid-cap private and public companies. HGGC’s debut fund, or Fund I, held closes in March 2008 and 2009, receiving $1.1 billion investor commitments. Its following two funds, including the firm’s flagship Fund III, also surpassed their targets with $1.3 billion and $1.84 billion investor commitments respectively. Last October, HGGC announced a merger between Mi9 Retail and MyWebGrocer, one of the firm’s portfolio companies and a leading provider of retail software solutions, in a marked effort to revolutionize the retail industry.
HGGC recently announced a series of ten promotions and five hires in March, expanding its operational team after an investment from Dyal Capital Partners. These moves help expand the firm and implement their strategy of ‘Advantaged Investing.’ The members of their team promoted to Partner are Les Brown, John Block, Steven Leistner, Harv Barenz, and Lance Taylor. Some of these team members, such as Les Brown, have been a part of the firm since as early as 2007.
Other promotions include Kurt Krieger to Chief Legal Officer, Jay Tabu to Principal, Chris Schulze to Vice President, and Neha Vaidya and Peter Cozzi to Senior Associates. Newly joining the HGGC team are Greg Caltabiano, Lindsay Sparks, Mo Gulamhusein, Holland Reynolds, and Chandni Shah. Caltabiano and Sparks will work as Executive Directors and directly support the firm’s portfolio companies. President and Co-founder Steve Young has expressed great pride in the firm’s existing team and welcomed the new members.