Fulcrum Equity Partners has closed Fulcrum Growth Fund IV LP with an oversubscribed $275 million in committed capital.
Fund IV is Fulcrum’s largest fund to date and follows its third fund which closed in July 2017 with $203 million in committed capital.
According to Fulcrum, Fund IV had nearly a 100% participation rate from institutional investors in prior funds and many investors increased their allocations over previous commitments. Limited partners in Fund IV include several new institutional investors and family offices, as well as over 100 current or former business owners and CEOs who are a key element of the firm’s strategic value-add investment strategy.
“As a team of seasoned entrepreneurs ourselves, we started the firm’s first fund by gaining the financial and operational support of like-minded executives who continue to invest and serve as a rich resource in diligence, market knowledge, connections, and board composition for our portfolio companies,” said Tom Greer, a founding partner of Fulcrum.
Fulcrum invests from $4 million to $25 million in companies with $3 million to $50 million in revenue that are active in healthcare services, healthcare IT, software, and technology-enabled services sectors. In 2020, two Fulcrum portfolio companies made the Inc. 500 and eight in total were listed on the Inc. 5000.
Fund IV has already closed three investments to date – Kobiton, a Georgia-based provider of manual and automated testing for mobile apps (November 2020); Proxsys Rx, an Alabama-based provider of technology-enabled hospital administrative systems and pharmacy programs (December 2020); and Kevel, a North Carolina-based provider of infrastructure APIs (Application Programming Interface) used by publishers to build custom ad platforms for sponsored listings and native advertising.
“The innovation emerging across the country promises an exciting path for Fund IV. Our team is looking for strong businesses with leadership teams who are ready for the next phase of growth with partners who can offer much more than capital,” said Jeff Muir, a founding partner of Fulcrum.
Atlanta-based Fulcrum was founded in 2006 by Jeff Muir, Thomas Greer, and Frank Dalton.
© 2021 Private Equity Professional | March 25, 2021