Foley Advises on Five Elms Capital’s New B2B Software Fund

July 26, 2021, 10:55 AM

Foley & Lardner advised Kansas City, Mo.-based private equity firm Five Elms Capital on a new fund that closed with $780 million in capital commitments.

The new Five Elms V fund will target investments of between $5 million and $75 million in growth-stage business-to-business software companies with “industry-leading value propositions and amazing company cultures,” according to a statement.

The fund, which received strong support from a diverse global base of new and existing institutional investors, brings Five Elms’ total assets under management to more than $1.5 billion, the statement said.

Five Elms said it has since 2006 partnered with 50 software companies with operations across 16 countries. Its website lists portfolio investments including St. Louis-based Sherpa, a provider of customer relationship management software for the senior living industry, Kansas-based Smart Warehousing, and Austin, Texas-based ActiveProspect, which provides lead-optimization solutions.

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com

To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com John Hughes in Washington at jhughes@bloombergindustry.com Rebekah Mintzer in New York at rmintzer@bloomberglaw.com

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