Plexus closes first buyout fund

Plexus Capital raised $204 million for its inaugural private equity fund with a focus on the lower middle market.

Based in Raleigh, N.C., Plexus has a long history of providing capital to U.S. small businesses since 2005. The team in charge of Plexus Equity Fund I has invested in a variety of industries across multiple economic cycles. Since inception, the firm has raised $1.7 billion across five credit-led funds (all SBICs) and one private equity fund (non-SBIC). The 36-strong investment team has invested $1.5 billion in more than 140 lower middle market companies.

“This is an important milestone for Plexus,” said Plexus Partner Jay Jester. “We are grateful to have the support of our longstanding limited partners and are pleased to welcome several new institutional investors to the Plexus family.”

The fund is slated to make equity investments in U.S.-based lower middle market companies with up to $100 million in revenue and up to $12 million in EBITDA. Typically, the firm is the first institutional capital to invest in these small businesses, as the firm partners with management teams and experience operators to help small companies grow and thrive.

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