Five Elms Capital raises $306.18m

The Kansas City-based private equity firm held a final close of its fourth US technology fund.

Five Elms Capital held a final closing of its fourth fund, Five Elms IV, at $306.18 million. The fund nearly doubled the size of its predecessor, Five Elms III, which held a final close in 2016 at $154 million. Capital raised will be used to invest in growth software companies throughout the United States.

The Kansas City firm has facilitated 39 investments and 14 liquidity events to date using committed capital from previous funds. Over the last year and a half, Five Elms Capital has completed eight investments and seven follow-on investments.

GCA Advisors was the placement agent for the fund.