Ann Arbor-based Plymouth Growth, an equity firm that invests in business-to-business (B2B) software and technology companies, has closed the Plymouth Growth V, LP, with approximately $125 million in committed capital.
The Plymouth Fund V is exclusively focused on investing in high-growth, B2B software and tech-enabled services companies throughout the North American mid-continent.
Plymouth’s fifth fund — led by partners Jeff Barry, Brook Critchfield, Kevin Terrasi, and Evan Ufer — is the firm’s largest to date with commitments nearly double its prior fund.
With a focus on B2B technology, Plymouth Growth has a history of identifying promising companies and working with management teams to help them succeed.
“We are thrilled to close Plymouth Fund V and continue our mission of partnering with exceptional software and technology companies,” says Ufer, a partner at Plymouth Growth. “Having successfully achieved our target for Fund V in a challenging environment, we are truly grateful for the trust and support our investors have in our firm and its vision.”
In addition, the new capital will allow Plymouth Growth to expand its talent base. Kathleen Kaulins has joined the firm as a senior member of the investment team. Kaulins, a Michigan native, came to Plymouth from Vistara Growth, where she served as investment director.
In addition to Kaulins, the firm has doubled its investment team in the past two years, also adding Michelle Erikson, senior associate; Alison Todak, director of platform; and analyst Caroline Wolanin to help support its accelerated investment activities.
Fund V already has invested in six growth-stage technology companies, including most recently Forj and CloseSimple, and will continue to make $5 million to $15 million investments in the next wave of B2B businesses looking to scale.
