Century City-based Skyline Investors announced it closed its inaugural fund, totaling about $125 million.

Founded in partnership with affordable housing developer Standard Communities, Skyline is aiming its new “impact-driven” fund to focus on the capital needs of “underserved, high-potential businesses in the micromarket” in a diverse group of sectors, the company said in a statement. That includes health care, consumer- and family-owned businesses that the firm says have historically been overlooked.

“Staying on target to close our inaugural fund during today’s challenging fundraising environment validates our approach to the underserved micromarket segment,” said Jeremy May, co-founder and managing partner who launched the firm with partner Kevin Tom in 2019.

Fund I’s limited partners include high-net worth individuals and financial institutions. Skyline has currently begun issuing capital, investing in companies with revenues ranging from $5 million to $50 million.

‘Strategic relationship’

“We’re focused on building long-term partnerships with business owners that drive sustainable growth while making a positive community impact,” May added.

In a group statement, Standard Communities Co-Founders and Principals Jeffrey Jaeger and Scott Alter echoed that sentiment and highlighted that the two firms share a mission of supporting communities and “improving quality of life.” With offices in Century City, the developer has more than 27,000 apartment units in its portfolio and over $5 billion in assets under management, according to the announcement.

“As strategic investors in Skyline, we are excited about the alignment between housing development and business growth, and how this relationship will drive greater community impact across both sectors,” the two said.

Skyline is currently seeking investments in “underserved businesses” in health care, services, technology and domestic manufacturing.