Hughes & Company Successfully Closes Second Private Equity Fund, Raising $260 Million

Hughes & Company Successfully Closes Second Private Equity Fund

In a significant announcement from Chicago, Hughes & Company, a private equity firm concentrating on healthcare software and technology-enabled services companies, stated that it has successfully closed its second private equity fund, known as Hughes Growth Equity Fund II, L.P. With a total reach of $260 million, the fund not only exceeded its initial target of $200 million but also underscored the firm’s strong performance and commitment to the healthcare sector.

A Testament to Trust and Partnership

Travis Hughes, Managing Partner and Founder, expressed his gratitude towards existing and new investors for their confidence in the firm. “We are deeply grateful for the confidence shown by our existing investors and our new partners who joined Fund II,” he stated. He went on to highlight the responsibility that comes with this trust, emphasizing that Hughes & Company has been focused for the past 15 years on aiding in the growth of companies that enhance the healthcare system. According to Hughes, there is still a vast need and opportunity within this sector.

The Hughes Company investment team, composed of healthcare industry specialists, operators, and thought leaders, has been keen on demonstrating their ability to create substantial value. This synergy allows them to tackle various challenges within the healthcare ecosystem efficiently.

Naile Kovuk, another Managing Partner, elaborated on the firm’s holistic investment approach. “To keep delivering strong results, we need to invest in more than just companies; we need to invest in our team and culture,” he said, indicating a commitment to nurturing a robust company culture and expanding their capabilities.

Historical Context and Growth

Hughes & Company was established in 2010, and since then, it has built a robust record of investing in healthcare software and services. The first fund, Hughes Growth Equity Fund I, L.P., closed in 2021 with a reach of $116 million, successfully backing several growth-stage businesses. A notable success from this fund was Azara Healthcare—a population health management software provider that was sold to Insight Partners in late 2024.

Recently, Hughes & Company made its first investment from Fund II by facilitating the merger of Curvo and BroadJump. This merger aims to create a comprehensive spend management and analytics platform specifically designed for hospitals and health systems. With this partnership, they’re set to deliver a suite of tools focused on cost reduction, improved sourcing efficiency, and enhanced outcomes for healthcare facilities.

Focused on the Future

Looking ahead, Hughes & Company aims to continue driving growth and innovation within the healthcare technology sphere. Their mission remains clear: to partner with essential companies that seek to improve patient outcomes and operational efficiency via investment in ideas that matter. With this latest funding round, the company is positioned to make a lasting impact within the healthcare landscape, tackling pressing issues and driving significant advancements toward a more effective system.

In closing, Hughes & Company's ability to secure this funding showcases not just a financial achievement but a strong vision directed at shaping the future of healthcare technology. The firm remains committed to both its investors and the broader community, ensuring that the capital raised will be handled with the utmost care and responsibility.