Mainsail Partners has held a final closing of its oversubscribed fourth fund, Mainsail Partners IV, LP, at $384 million. Fundraising took just over two months to complete and the final close occurred in December 2015.
“The high caliber of investors who participated and speed with which we raised our fourth fund are further validation that our strategy continues to resonate,” said Gavin Turner, a managing partner at Mainsail. “We are honored by the quality of new and returning investors who have chosen to partner with us in this latest fund.”
Mainsail Partners invests from $5 million to $25 million in US and Canadian companies that have revenues of $4 million to $50 million. Sectors of interest include software and software as a service (SaaS); technology-enabled business services; E-commerce and Internet; financial technology and services; healthcare IT and services; and franchising business models.
An important component of Mainsail’s strategy is to provide operational support to help companies sustain high growth rates. Smaller bootstrapped companies are often under-invested in infrastructure, have gaps in key management positions, and have limited time to keep up with the latest best practices. To help companies address these challenges, Mainsail has built an operations team with functional expertise in sales, digital marketing, recruiting, product management, customer success and finance.
“Our team of outstanding men and women is purpose-built to help bootstrapped companies achieve their potential,” said Jason Payne, a managing partner at Mainsail. “We deliver capital, resources and expertise with the goal of helping entrepreneurs achieve faster growth with less risk than they would have been able to achieve on their own.”
Mainsail was founded by Mr. Turner and Mr. Payne in 2003 and is based in San Francisco (www.mainsailpartners.com). Recent Mainsail investments include 3PL Central, Brilliant Earth, Ncontracts, nCourt, Netchemia, PlayMaker CRM, SQL Sentry and Zen Planner.
© 2016 PEPD • Private Equity’s Leading News Magazine • 2-29-16