Foley-Led Five Elms Nabs $780M For Software-Focused Fund

By Benjamin Horney (July 22, 2021, 6:00 PM EDT) -- Five Elms Capital, led by Foley & Lardner, said Thursday it has wrapped up its fifth flagship fund after securing $780 million from limited partners, with plans to target investments in growth-stage software companies.

The fund, called Five Elms V, received capital contributions from a global base of new and existing LPs, including founders of existing Five Elms portfolio companies, according to a statement. It increases the firm's total assets under management to more than $1.5 billion. The new fund will make individual equity investments of between $5 million to $75 million, with an emphasis on business-to-business software companies.

Fred Coulson,...

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