Plexus Capital, a Charlotte and Raleigh, N.C.-based provider of capital to small businesses in the United States, closed its fourth fund, at $400m.
In addition to SBA capital and investments from the Plexus team, investors in Plexus Fund IV include 57 banks, 208 individuals and family offices and eight institutions. The fund will focus on the same strategy of investing in profitable businesses with $10 – 100m in revenue to support growth, recapitalizations and transitions of ownership.
With the closing, Plexus has raised more than $950m since inception in 2005, including capital accessed through SBA’s Small Business Investment Company program.
Led by Managing Partner Michael Painter, Plexus has invested $562 million in 77 companies across its four funds.
– Plexus Fund I, an $80m 2005 vintage fund, returned 10.5% net annualized returns to investors.
– Plexus Fund II, a $175m 2009 vintage fund, has returned 19.6% net annualized returns to investors to-date.
– Plexus Fund III, a $300m 2013 vintage fund, is now 96% deployed in 28 companies.