Five Elms Capital, a Kansas City, Mo.-based investor in founder-owned software businesses, held the first and final close of its fourth fund, at more than $300m.
The investor base of Five Elms IV includes an expanded group of global limited partners such as leading university endowments, foundations, pensions, family offices, and financial institutions.
With the new fund, the firm will continue its 12+ year strategy of investing in vertically focused software companies with industry-leading value propositions.
Led by Fred Coulson, Founder and Managing Partner, Five Elms has completed 39 investments and has had 14 liquidity events across previous funds to date. In the last 18 months, the firm has completed 8 new investments, 7 follow-on investments, and 5 exits.
Five Elms has 25 team members operating from a single office in Kansas City. Rather than dropping an operations team into portfolio companies, the firm helps founders hire new senior leaders, scale culture, and accelerate organic growth.