Plexus Capital has held a final above target close of Plexus Fund V LP with $502 million of capital.
Like its earlier funds, Fund V will invest up to $40 million in profitable US-based companies with $10 million to $150 million in revenue and EBITDA up to $20 million. The firm invests across a wide range of industries and across the balance sheet including subordinated debt, equity (majority or minority) and one-stop financings.
Limited partners in the new fund include pension funds, insurance companies, and banks, as well as family offices and high net worth individuals.
“The overwhelming continued support from our existing investors is a key indicator of our differentiated strategy, team depth and expertise, and consistent approach to value creation as economic cycles have shifted over the years,” said Alex Bean, a partner at Plexus. “We are also pleased to welcome several new institutional investors to Fund V. We are fortunate to partner with exceptional management teams and like-minded investors to help small businesses achieve their growth plans.”
In February 2020, Plexus acquired Freezing Point (DBA Frazil), a Salt Lake City-based manufacturer of frozen beverage products dispensed by convenience stores located across the US.
Plexus’s earlier fund closed with $400 million in November 2016. Since its founding in 2005, Plexus has invested more than $1.1 billion in over 115 small businesses.
Plexus has 32 professionals on staff and offices in both Raleigh and Charlotte, North Carolina.
Private Equity Professional | October 9, 2020