A venture capital investment company based in Charlotte, North Carolina, wants to raise $500 million in an investment fund, according to a filing Thursday with the Securities and Exchange Commission.
Frontier Capital is a growth equity firm focused on software and technology-enabled business services.
According to the filing, the first sale has yet to occur and is not made in connection with a merger, acquisition or exchange.
The company was founded in 1999 as a small, regionally focused investment firm. Since then, Frontier has become nationally recognized as a leader in providing capital for technology companies.
Frontier engages in minority and majority equity investments in high-growth companies with the approach to transform them into market leaders.
The company’s investment profile includes revenues between $10 million and $30 million, over 50 percent gross margin and approximately 20 percent in annual revenue growth.
Companies in Frontier’s portfolio include Access One, Dinova, Teladoc, Aviacode and Simpli.fi.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.