Chantilly, Va. - BIA Digital Partners, an investment management firm, said on Monday that it has closed a new $195 million private equity fund.

The fund, known as BIA Digital Partners II, will provide mezzanine capital for small to medium-sized media, telecommunications, information and related business services firms.

BIA said that the size of the fund exceeded its original target of $150 million.

"Now we can consider investments of up to $12 million from our own account, and larger transactions with co-investment from our limited partners," said Lloyd Sams, the firm's managing principal. BIA launched its original $88 million fund in 2001, and currently has more than $280 million of assets under management.

The firm has invested in companies including EyeWonder, Convergent Broadcasting and Marquee Cinemas.

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