Small business investment company (SBIC) Plexus Capital has raised $150 million in capital, which it plans to combine with leverage from the Small Business Association (SBA), to create a $300 million fund that will invest in U.S. lower middle market businesses.

Plexus, based in Charlotte, N.C., has $550 million under management, and invests in middle market companies in the U.S. The firm launched in 2005.

Through the SBA program, specialty financial companies can access capital at a reduced cost to make investments in companies that generally have a net book value of less than $18 million. The program was started in 1958 so small companies could have access to growth capital.

For more on SBICs, see “Finance Finesse: SBIC Lenders Grow in Small Bank Space.” 

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.