Shore Capital Partners, Chicago, announced the closing of its inaugural food and beverage fund, Shore Capital Food & Beverage Partners Fund I (F&B Fund I), which raised $148 million.

F&B Fund I, led by Justin Ishbia, founder and managing partner, and Richard Boos, partner, aims to make control equity investments in food and beverage manufacturing, distribution, packaging and related B2B service companies.

“We are thrilled and humbled by the reception these funds have received from such a highly-respected group of investors,” says Ishbia. “Having the ability to expand our expertise and knowledge into the food and beverage space while simultaneously continuing our original healthcare-focused strategy is an attractive opportunity for our limited partners and firm as whole. As we strive to continue achieving a top-tier track record, we sincerely thank our limited partners who have instilled a significant amount of trust and confidence in our experienced and talented team of investment and operating professionals.”

“In addition to our third healthcare-focused fund, we are very pleased to have successfully closed our inaugural food and beverage fund and look forward to partnering with entrepreneurs and seasoned executives to drive impactful growth,” adds Ishbia. “As has been the case for many years and various cycles, we are confident that the food and beverage industry will continue to present quality investment opportunities, particularly within a number of niche sectors. We are eager to begin deploying this capital to help companies reach their full potential.”