B.C. Ziegler & Co. is currently raising a $50 million Milwaukee-based fund to invest in established early- to mid-stage companies creating technology solutions for the aging industry.
Chicago-based B.C. Ziegler launched the pooled investment fund, Ziegler Link-Age Fund II L.P., in October and closed the first tranche at $20.9 million from 56 investors on October 18, according to an SEC filing. This week, the company completed the second tranche of about $5.5 million, with plans to close the whole fund at between $40 and $50 million in aggregate in late January, said Mark Baumgartner, chief credit officer at Ziegler.
A similar fund the company raised a few years ago, Ziegler Link-Age Longevity Fund, totaled about $27 million and was invested in 12 companies. Two have made exits, he said.
Ziegler usually invests about $3 million in each portfolio company, Baumgartner said.
“The investors that are in this, some of them are senior living providers,” he said. “When we make investments in these entities, we give them a look at…what those investments are so they can decide whether it’s useful or meaningful for their organization, so their organization is on the cutting edge of what is being done in their industry in terms of trying to advance their industry skills.”
While the Link-Age Fund is based in Milwaukee, it isn’t necessarily seeking local investments, Baumgartner said. Its investors and investments are nationwide.
“If there’s a great opportunity out there, we’re interested in it,” he said.