Independent Bankers Capital Funds has announced Independent Bankers Capital Fund II, L.P., a new fund investing mezzanine capital in profitable, lower-middle-market manufacturing, distribution and service companies across Texas. The Fund raised $21 million from Texas independent banks allowing it to receive commitments from the Small Business Administration (“SBA”) for up to an additional $42 million.
The first fund, Independent Bankers Capital Fund, L.P., was the first Small Business Investment Company (“SBIC”) specifically designed to be owned by independent financial institutions. Conceived in 1998 and licensed by the SBA in 2000, the fund had $69 million that was invested into 12 companies.
IBCF’s funds are currently managed by Barry Conrad, Thomas Hoyt, and TIB – The Independent BankersBank.