Baird Capital closes continuation fund to fuel growth of Blue Matter
Blue Matter Consulting LLC
Blue Matter is a strategic consulting firm serving the life sciences industry. From its offices in North America, Europe and Asia, Blue Matter serves pharmaceutical and biotech companies around the globe. The firm helps clients maximize value at the product, portfolio and organizational levels. It has broad therapeutic expertise with a focus on complex markets such as oncology, central nervous system and rare diseases.
Since Baird Capital’s initial investment in 2020, Blue Matter has expanded its platform, delivered approximately 25% organic CAGR growth, executed three add‑on acquisitions and more than tripled its revenue.
The Deal
Baird Capital closed a continuation vehicle involving Blue Matter Consulting LLC (Blue Matter). Baird Capital Global Fund III, the $450 million global fund that Baird Capital closed in April 2026, also made a new investment in the business. Blue Matter’s management team retained a majority stake in the business, and the transaction provides Baird Capital with strategic flexibility to support Blue Matter’s continued growth while offering liquidity to existing investors.
Baird Capital
Baird Capital invests in B2B technology and services companies across North America and the UK, partnering with entrepreneurs to build exceptional companies. With deep operational expertise, an engaged portfolio operations team and an extensive global relationship network, Baird Capital works closely with its portfolio companies to enhance shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co.
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