Mainsail Partners, a growth equity firm, raised $915 million in limited partner capital commitments in its sixth fund. The new fund, Mainsail Partners VI, LP was oversubscribed and closed in less than three months. The total capital commitments raised by the firm total more than $2.2 billion.
Mainsail aims to continue investing in software companies in the amounts of $30 million to $60 million. Recent software company investments include Apptega, ServiceCore, and Inspect Point. The two first investments of the firm’s sixth fund are Centerbase, a software platform for law firms, and Flight Schedule Pro, an aviation software provider.
Gavin Turner, managing partner and co-founder of Mainsail Partners said, “The past twelve months have been the most active in Mainsail’s history in terms of the number of new investments and portfolio companies that were acquired or went public. We believe this momentum is validation of our approach to partnering with bootstrapped founders and providing hands-on operational support to help their companies scale fast and efficiently.”
Kirkland advised Mainsail Partners on the fund.