Foley’s Role in Closing of Five Elms Capital’s New $780M Software-Focused Fund Detailed in Law360

22 July 2021 Law360 News

Foley’s role as fund formation counsel to Five Elms Capital in its closing of a new $780 million software-focused fund is detailed in a Law360 article, “Foley-Led Five Elms Nabs $780M For Software-Focused Fund.”

Five Elms Capital, a leading global growth private equity firm focused on investing in world-class B2B software, wrapped up its fifth flagship fund with $780 million in capital commitments and plans to target investments in growth-stage software companies.

The new fund, Five Elms V, will target equity investments between $5 and $75 million. The fund received strong support from a diverse global base of new and existing institutional investors, bringing Five Elms’ total assets under management to more than $1.5 billion.

Since the firm’s inception in 2006, Five Elms has successfully partnered with 50 software companies with operations across 16 countries. With the new fund, Five Elms will continue to invest in growth-stage software companies with industry-leading value propositions. With more than 60 professionals and $780 million in fresh capital, the firm is uniquely resourced to continue investing in and supporting category leaders across a wide variety of software verticals.

The Foley team, led by partner Stephen Meli, included partner Raj Tanden and associates Kenneth Nee, Ashley May, Adam Kleinfeld, Nolan Binney and Mike Donadio.