Five Elms Capital announced the final close of its Fund VI in October 2024 with $1.1 billion in total commitments, marking the firm’s largest fund to date. The oversubscribed fund attracted strong participation from both existing and new limited partners, expanding the firm’s investor base and increasing assets under management to over $3 billion. Fund VI will continue the firm’s strategy of partnering with founder-led software companies that have established products, strong customer loyalty, and clear opportunities for scale. “Since 2006, we've partnered with founders who have built strong products and distinct company cultures to help them scale into category leaders,” said Fred Coulson, Founder and CEO of Five Elms Capital.
The firm’s value creation team, comprising 17 experienced software operators, works closely with portfolio companies to support executive hiring, AI enablement, sales growth, and operational scaling. Fund VI has already invested in four software platforms: Magma Math, RoomPriceGenie, Pathify, and Motivity. Henrik Appert, CEO of Magma Math, highlighted, “With Five Elms, we found a team that shares our values, brings meaningful operating experience, and is willing to engage on the things that actually move the business forward. They've been thoughtful, collaborative, and focused on helping us scale the right way.” Evercore Private Funds Group served as the exclusive global placement agent for the fund, and Foley & Lardner LLP acted as legal counsel for its formation.
