Foley & Lardner LLP acted as fund formation counsel to Five Elms Capital, a leading global growth private equity firm focused on investing in world-class B2B software, in their closing of Five Elms V with $780 million in capital commitments.
Five Elms V will target equity investments between $5 and $75 million. The new 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 of 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.