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MiddleGround raises $140M for 1st fund

MiddleGround Capital pulled in $140.0 million for its first fund, MiddleGround Partners I LP, which attracted seven investors.

The Lexington, Ky.-based investment management firm backs middle-market businesses in the North American business-to-business industrial sector. It was founded by John Stewart, who was a partner at Monomoy Capital Partners.