ParkerGale, a Chicago, IL-based private equity firm, closed its second buyout fund, at $375m.
Exceeding its original target of $300m, the fund received Limited Partner commitments from a balanced mix of existing and new investors.
Formed in 2014 by Devin Mathews, Kristina Heinze, Jim Milbery, Ryan Milligan, Corey Dossett and Sharon Janowski, ParkerGale focuses on investing in middle-market tech companies.
Through the new fund, the firm will continue to focus on acquiring profitable, founder-owned technology companies and corporate carve-outs in the small end of the middle market.
ParkerGale generally commits $30 to $50 million of equity in companies with enterprise values below $100 million. It takes a hands-on approach to operations utilizing its in-house team of functional experts in talent, systems, growth and products.
Since its founding, the firm has acquired six technology companies as the first institutional investor.