RCG Ventures has held a $107 million final close for its third value-added fund, RCG Ventures Fund VIII, exceeding its fundraising goral of $75 million. The vehicle launched 90 days ago.
“We are very pleased with the interest level in our most recent fund which includes many repeat investors, as well as new ones,” said Michael McMillen, CEO and co-founder of RCG Ventures, in a statement.
The fund has started to invest its capital. Like its predecessors, Fund III will invest in value-added shopping centers throughout the United States, particularly anchored retail real estate or real estate that can be re-anchored. Investments usually will have big retail tenants or retail hubs, such as Walmart or Target.
“Although the commercial real estate markets con
