M/C Partners

History

M/C Partners, formerly known as Media Communications Partners, was founded in 1986. The company's co-founder, Dave Croll, was previously a managing partner at venture capital firm TA Associates. Co-founder Jim Wade also previously worked in the Media/Communications Group at TA.

In 1986, the Media/Communications group and the funds it managed completed a spinout from TA to form an independent firm. The firm raised its first fund Media/Communications Partners in 1987 with $283 million of investor commitments. In 1992, the firm's second fund was raised with $167 million of capital and then four years later Media / Communications Partners III was raised with $265 million of capital. M/C raised its fourth fund with $230 million in 1999 and a year later the firm raised M/C Venture Partners V, its largest fund to that point, with $550 million.

Initially, M/C focused primarily on investments in US telecommunications providers and communications-related IT Services. In more recent years, the firm has expanded its investment focus to include fixed and mobile wireless broadband operators, wireline operators, managed IT service providers, media content providers and communications and infrastructure software developers.

In 2006, the firm completed fundraising for M/C Venture Partners VI with $550 million of investor commitments to focus on later stage growth capital investments.

Investments

The firm invests in emerging communications related information technology companies in the US and internationally. M/C is currently investing out of its ninth fund, M/C Partners IX, a $350 million growth equity fund raised in 2023.

Among the firm's most notable investments are such notable companies as: AccentHealth, Airband, Cellular One, Fusepoint Managed Services, HyPerformix, ICG Communications, Legendary Pictures, MetroPCS, Mobi, Nuvox, PlumChoice, Inc., Revol Wireless, Triton PCS, Western Wireless Corporation, and Zayo Bandwidth.

References

• Staying with CLECs. Telephony Online, Oct 9, 2000

References

1. Falconer, Kirk. (2023-08-14). "M/C Partners targets $450m for Fund IX, expects to close next month".
2. "James F. Wade".
3. Cruikshank, Jeffrey L.. (2005). "Shaping the Waves: A History of Entrepreneurship at Harvard Business School". Harvard Business School Press.
4. [http://www.accessmylibrary.com/coms2/summary_0286-17464284_ITM M/C Ventures raises $550m]. Private Equity Week, August 21, 2006
5. Staff, PE Hub. (2008-09-08). "PE Firms Buy AccentHealth".
6. [http://www.masshightech.com/stories/2009/02/16/daily15-MC-Venture-helps-rock-Airbands-3M-funding.html M/C Venture helps rock Airband’s $3M funding] {{Webarchive. link. (2009-02-21 . Journal of New England Technology, February 17, 2009)
7. [http://boston.bizjournals.com/boston/stories/2004/07/19/daily3.html M/C Venture partners in ICG acquisition]. Boston Business Journal, July 19, 2004
8. [http://www.thedeal.com/newsweekly/features/metropcs-pays-the-price-for-a-warm-reception.php MetroPCS Pays the Price for a Warm Reception] {{webarchive. link. (2011-01-23 . The Deal, Feb 6, 2009)
9. "Investors are betting $50 million that Mobi PCS can use a customer-friendly business model to grab a big share of Hawaii's wireless-phone market".