Monroe Capital has provided a senior credit facility supporting Battery Ventures’ majority growth investment in Phigenics, a Warrenville, Illinois-based provider of technology-enabled water-management solutions. Monroe acted as sole lead arranger and administrative agent on the facility. Financial terms were not disclosed.
Battery Ventures’ majority growth investment in Phigenics was originally announced on September 17, 2026. The investment firm lists Phigenics as an active 2026 buyout-stage portfolio company focused on industrial technology and life science tools.
Founded in 2004 by Bill McCoy, Ashton McCombs and Jay Reading, Phigenics provides water-management programs for healthcare systems and other facility operators. Its offering combines accredited laboratory testing, water-quality monitoring equipment and phiAnalytics, a cloud-based platform used to manage water-safety programs, monitoring data and compliance documentation.
Phigenics serves more than 250 customer organizations, including hospital systems, Department of Veterans Affairs facilities and ambulatory surgery centers. The Battery Ventures partnership is intended to support investment in existing and new products as well as expansion into additional markets.
