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ParkerGale launches $200m debut fund

The Chicago Growth Partners spinoff firm will invest in technology companies in North America.

ParkerGale has launched its debut fund, ParkerGale Capital, with a target of $200 million, according to the firm’s filing with the US Securities and Exchange Commission.

The fund has yet to raise any capital, according to the filing.

One of ParkerGale’s founding partners, Devin Matthews, declined to comment.

ParkerGale launched last year as a spinout from Chicago Growth Partners, which halted fundraising for its third fund in May 2014, according to PEI’s Research & Analytics division. It was founded by Devin Mathews, Jim Milbery, Ryan Milligan, Kristina Heinze and Dave Chandler. Its chief financial officer is Corey Dossett.

ParkerGale is based in Chicago and focused on investing in technology companies with subscription or transaction-based revenue models and EBITDA between $2 million and $6 million. It invests only in North America, the firm’s website said.