Vance Street Capital has announced it has closed its third buyout fund, Vance Street Capital III, with $432.5 million.

The fund exceeded its target of $375 million commitments.

Through the new fund, the firm indicated it will continue to partner with founders, families and management teams of solutions businesses in the medical and life science sectors as well as a few other sectors.

Vance Street, based in Los Angeles, is a middle market private equity firm that typically pursues companies with between $3 million and $30 million in EBITDA operating in the United States and Canada.