North Carolina-based Plexus Capital LLC has smashed its fundraising targets, closing two new private equity funds — Plexus Fund VII and Plexus Equity Fund II — with a combined total of more than $1.3 billion in capital commitments, the firm announced Tuesday.
Led by legal counsel from Kirkland & Ellis LLP, the twin fund closings mark one of the most successful capital-raising streaks in the firm’s two-decade history, underscoring investor confidence in Plexus’ disciplined middle-market strategy.
Fund VII and Equity Fund II Close Above Target
According to the announcement, Plexus Fund VII raised $977 million, far exceeding its initial $750 million target, while Plexus Equity Fund II brought in $345 million, surpassing its $250 million goal. Both funds closed ahead of schedule, with Fund VII wrapping up in just five months and Equity Fund II finalizing in a swift three months.
The firm said Fund VII will continue its hallmark strategy of providing debt and equity investments to companies generating between $10 million and $100 million in revenue, with earnings (EBITDA) ranging from $2 million to $12 million.
Meanwhile, Equity Fund II—part of Plexus’ control buyout strategy launched in 2021—targets businesses in the essential services and business sectors, deploying $15 million to $40 million of equity per investment.
