Hidden River Strategic Capital, which is moving its headquarters from Chesterbrook in Chester County to Radnor, has raised millions of dollars to support new businesses.

The firm is looking to support underserved clients, including small businesses. The $245 million in raised funds aims to accomplish that goal, writes Jeff Blumenthal for the Philadelphia Business Journal.

Chief Operating Officer Steve Gord said that the fund includes businesses across multiple industries, and the firm is looking at companies across the country.  

Hidden River was started in 2021 by three private equity veterans Steve Gord, Todd Morrissey, and Kevin Condon.

Gord also founded Boathouse in 2003, which originally focused on small businesses. Gord and colleague Condon both split as partners once their philosophies no longer aligned with the firm.  

“We started Hidden River to address this gap in the market with our structured capital offering – flexible, hybrid debt and equity,” said Gord.  

Read more about Hidden River Strategic Capital in the Philadelphia Business Journal.