Blue Heron Capital, a Richmond growth equity firm focused on health care and enterprise technology, has exited its investment in Starc Systems after the company was purchased by Oak Brook, Illinois-based private equity firm North Branch Capital.
Terms of the sale were not disclosed.
Brunswick, Maine’s Starc Systems manufactures reusable temporary containment walls to protect occupied areas from disruption during renovation. Its modular products are often used in hospital renovations. Blue Heron led a $3.5 million Series A investment in the company in 2017.
Starc CEO Chris Vickers said in a statement that Blue Heron “provided a combination of expertise and thoughtfulness” as an investor.
“Whether asking the right question or providing examples from their past experience, they pushed and supported us throughout, making us a much better company,” Vickers said.
Blue Heron has several active investments in Virginia companies, including Richmond autism telehealth startup AnswersNow, McLean health care staffing startup ShiftMed and McLean identity tech startup Verato. In 2016, it participated in a $17 million funding round for Reston health startup Avizia, which later sold to American Well in 2018.
Blue Heron is led by co-founders Tom Benedetti and Andrew Tichenor.
