We provide expansion capital for healthcare service companies, medical devices and technology, and other diversified service companies with a proven business model and a large target market. Our companies are primarily headquartered in the Southeast, Midwest and Southwest, although we will consider investments in other regions of the country.
Often, Richland is the first institutional venture investor in a company after the founders have seeded the concept. Our capital, combined with the resources of any co-investors we bring to the investment, should be sufficient to take a company to its initial public offering or strategic sale.
Richland works to achieve long-term capital gains for our investors. We prefer to be a lead investor and take an active role in each of our companies at the board level. Usually, $5 million to $15 million per company is invested in securities convertible into common stock. Typically, our investment will be outstanding between four and six years.
