Blue Sea Capital surpasses target for its Fund II

West Palm Beach’s Blue Sea Capital LLC recently announced the successful closing of its Blue Sea Capital Fund II LP and Blue Sea Capital Executive Fund II LP, a $430 million private equity fund. According to a recently, Fund II, which includes a $30 million investment by the General Partner and was significantly oversubscribed, exceeded its $350 million target. That’s 30% over its previous Blue Sea Capital Fund I LP. Fund II will continue Fund I’s strategy with a focus on partnering with exceptional entrepreneurs to build best-in-class, high-growth, enduring platforms within attractive sub-sectors of the healthcare and industrial end-markets.

The private equity firm said in a release that Fund II added “a small number of new institutional investors, including leading funds-of-funds, insurance companies, corporate and public pensions, financial institutions, consultants, multi-family offices, endowments and foundations.” Investors include more than 20 CEOs, founders and industry executives.

Blue Sea has more than $750 million in assets under management and invests in three industries: aerospace & defense, healthcare and industrial growth. About a quarter of Fund II is invested across three platforms: Apex Physics Partners, a leading diagnostic medical physics services platform; Innovative Labs, a leading developer, formulator, and provider of single-serve and multi-dose ingestible health and wellness products for leading brands and direct sales companies; and Beacon Oral Specialists, a leading management services organization serving the oral surgery sector.

“We are thankful for the strong support of our existing limited partners, particularly given the challenging external environment, and are excited to add a select group of new investors,” said Managing Partner J.R. Davis. “We are proud of the firm we are building, with a foundation of success in supporting a selective set of entrepreneurs and special, market-leading companies to accelerate growth.”

With 14 investment professionals on staff, Blue Sea has invested in 45 companies over seven years, including 11 platforms and 34 strategic add-on acquisitions.

“In a challenging year for the world, we are grateful for the hard work and positive outcomes driven by our portfolio company leadership teams,” said Managing Partner Rick Wandoff. “Our success as a firm is a direct result of our entrepreneurs’ performance, including the ability for our Fund I companies to innovate and improve over the past year, coupled with a fast start for our Fund II portfolio companies.”

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Drew Limsky

Drew Limsky



Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.