absInvestment firm ABS Capital Partners has raised a new $500 million fund to invest in companies that are at a key stage of expansion, the firm announced today.

ABS specializes in four areas of investment growth: business/education services, health care, media and technology. The new fund, which is the firm’s seventh, brings ABS’ total to $2.5 billion raised. The firm’s previous fund, closed in 2009, was $420 million.

The firm said limited partners of the new fund include several investors of its previous funds such as Abbott Capital, Johns Hopkins University and WP Global Partners as well as new investors Top Tier Capital Partners and The Wellcome Trust.

Founded in 1990, the Baltimore, Maryland-based firm has exited more than 70 companies including American Public Education, Inc., Liquidity Services, Inc., Neustar, Inc., Innovation Interactive, Cobalt Group, Metastorm and Restaurant Technologies, Inc.