Baird Capital makes venture capital, growth equity and buyout investments in the Healthcare, Products, and Technology & Services sectors through four families of funds: U.S. Private Equity, Venture Capital, U.K. Private Equity and China Growth Equity. Our active portfolio companies have combined annual revenues of $2.8 billion and more than 19,000 employees.
Since its inception more than two decades ago, Baird Capital has evolved an operating strategy with a reach and depth that is unique in the lower middle market. We have built deep sector expertise and investment experience in our target investment sectors. More importantly, we share this collective knowledge across our global platform to generate investment and operating ideas.
This global knowledge ecosystem offers a significant advantage for both portfolio companies and limited partners. Baird Capital’s team of 62 investment, operating and support professionals in the United States, Europe and Asia works closely with entrepreneurial management groups to grow their businesses. And where appropriate, we can leverage our understanding of potential opportunities with the perspective of Baird’s Equity Research and Global Investment Banking teams.
Our Portfolio Operations group supports our investment teams and the portfolio companies’ management teams in building value by increasing revenue and identifying operating efficiencies. Portfolio Operations collaborates globally to share best practices and leverage the scale of our active portfolio through shared spending and operations support. During 2014, we continued to enhance the value we offer to portfolio companies by adding a highly experienced human capital professional to help assess and develop management talent, as well as two industry veterans with decades of experience in the Healthcare and Products sectors.
During 2014, we realized $341 million, primarily from the exit of 13 investments. In addition, Baird Capital invested $87 million in eight new platform investments and in support of existing portfolio investments. Investment activity for our Venture Capital and China Growth Equity funds continued to be strong; however, activity was slow for our U.S. and U.K. Private Equity funds due to generally high valuations for potential acquisitions.
In late 2014, Baird Capital completed fundraising for Venture Capital’s Fund IV. The new fund was substantially oversubscribed, raising $185 million against a target of $150 million. Fund IV had completed seven investments by year-end. Like the venture sector, we believe China continues to be an attractive opportunity. China entrepreneurs are seeking partners with access to investment capital and global operating expertise — exactly Baird Capital’s strengths. We had our first exit in the China Growth Equity fund during 2014.