Tecum Capital Launches Fourth SBIC Fund with $325 Million Target
Deal News | Jul 24, 2025 | Tecum Capital Partners
Tecum Capital Management, a private investment firm headquartered in Pittsburgh, Pennsylvania, has received a new strategic boost by securing its fourth SBIC (Small Business Investment Company) license from the U.S. Small Business Administration (SBA). This new fund, Tecum Capital Partners IV, L.P., has surpassed the $325 million mark after its fourth closing. The fund will continue to engage in mezzanine loans and minority equity investments, targeting a wide range of industries and focusing on strategic growth in the Rust Belt states as well as the Midwest, Southeast, and Mid-Atlantic regions. The average investment size will range from $5 million to $20 million. Established initially in 2005 as a bank subsidiary, Tecum Capital spun out to form its first SBIC fund in 2013. The firm is led by founders Stephen J. Gurgovits, Jr., Matthew L.T. Harnett, and Tyson S. Smith, and supports independent sponsors, family offices, private equity funds, and management teams in facilitating growth-driven financial solutions.
Sectors
- Private Equity
- Financial Services
Geography
- United States – Tecum Capital is based in Pittsburgh, PA, and its investment strategy focuses on regions across the U.S., including the Midwest, Southeast, and Mid-Atlantic.
Industry
- Private Equity – The article discusses the activities of Tecum Capital, a private investment firm, and its launch of a new SBIC fund, highlighting its role in the private equity sector.
- Financial Services – Tecum Capital provides financing through mezzanine loans and equity investments, situating it within the broader financial services industry.
Financials
- $325 million – The total fund size for Tecum Capital Partners IV, L.P.
- $5 million to $20 million – Average investment size per transaction for the new fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tecum Capital Management, Inc. | Private Investment Firm | Company | A Pittsburgh-based investment firm managing multiple SBIC funds, focusing on mezzanine debt and equity investments. |
| Stephen J. Gurgovits, Jr. | Managing Partner | Person | Managing Partner of Tecum Capital, providing strategic direction for the firm's investment activities. |
| U.S. Small Business Administration (SBA) | Licensing Authority | Government | Provided the SBIC license to Tecum Capital for their fourth investment fund. |