Crux Closes Inaugural Fund at $340 Million

Crux Capital, a Dallas-based private equity firm targeting the lower-middle market, has closed its debut institutional fund, Crux Capital Fund I LP (Fund I), with over $340 million in commitments. Fund I closed above its hard cap following a nine-month fundraising cycle.

Limited partners in Fund I include university endowments, charitable foundations, family offices, funds of funds, and industry executives.

Crux Capital makes majority or significant minority investments in consumer and commercial services companies with revenues between $5 million and $100 million and EBITDA between $1 million and $15 million. The firm focuses on founder- and family-owned businesses in the Sunbelt region, with an emphasis on franchise, multi-unit, route-based, membership-based, and tech-enabled business models. Crux is often the first institutional investor in its acquisitions. Dallas-headquartered Crux Capital was founded in 2019 by Managing Partner Wayne Moore.

“We are incredibly grateful for the conviction and trust shown by our new and existing partners,” said Mr. Moore. “We believe this fundraise is a powerful endorsement of our specialized strategy of partnering with talented founders and management teams in the consumer and commercial services sectors. The firm has deep roots in the Sunbelt, and we are excited to deploy capital to help high-quality businesses in this vibrant region achieve their full potential.”

“The enthusiastic response to our first fund speaks to the compelling opportunities we see in the lower-middle market,” said James Kay, a partner at Crux Capital. “For many entrepreneurs, we are the first institutional partner they’ve had, and we don’t take that responsibility lightly. Our collaborative, hands-on approach is designed to provide not just capital, but the strategic and operational resources necessary to help these companies build lasting value for all stakeholders.”

The placement agent for this fundraise was Lazard, and Weil, Gotshal & Manges LLP provided legal services.

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