NewSpring Capital said May 11 that its latest growth fund closed at $280 million. Investors of NewSpring Growth Capital IV LP include family offices, insurance companies, public pension plans, fund of funds, financial institutions, and university endowments. The fund will invest in growth-stage businesses in the information technology, enabling technology, and business services sectors, with an emphasis on the Mid-Atlantic region. NewSpring also said that Prashanth (PV) Boccasam joined the firm as an operating partner dedicated to the growth strategy.