Plexus Capital, the North Carolina-based private equity firm, has has completed its final closing of Plexus Fund II. This is the firm’s second fund to make loans and equity investments in small and mid-sized businesses in North Carolina and the eastern half of the US.
Despite a difficult economic environment, Plexus exceeded its private capital fundraising target of USD150 million by raising USD165 million from a limited partner group consisting of individual investors, banks, institutions, family offices and money managers.
Plexus received its second SBIC license from the Small Business Administration (SBA) in January of 2010, giving it access to two tiers of attractive borrowing capacity from the SBA. This leverage, coupled with the USD56M private capital raised, will give Plexus Fund II a USD165 million pool of capital to invest. The combined investment assets comprising Plexus Capital’s two funds now approach USD250 million.
Plexus makes investments in small and medium-sized businesses needing capital for growth, acquisitions, recapitalisations and transfers of ownership. Plexus is now harvesting the portfolio of Fund I and has made capital investments exceeding USD40 million from Fund II.
