Petra Capital Closes Fifth Growth Fund at $270M Hard Cap

Petra Capital Partners announced on January 29 that it closed its fifth growth fund, Petra Growth Fund V, oversubscribed and at its hard cap of $270M.

The fund had an initial target of $95M, according to an October 2024 filing with the SEC. At the time of filing, Fund V had already raised $71.3M from 16 investors since opening sales earlier in the month. The minimum investment was set at $250K.

The lower middle market private equity firm said the fund has a license to operate as a small business investment company. On its website, Petra Capital indicated that Fund V is already in deployment, targeting healthcare, business and technology-enabled services companies. It marked its first platform investment with the deployment of capital to a primary market research and analytics firm that provides services to the pharmaceutical, healthcare, and consumer industries.

Under its strategy, Petra Capital invests in US companies with enterprise value of $10M to $75M and with EBITDA greater than $1M. It earmarks $10M to $25M for every investment in mezzanine debt, preferred equity, or for every purchase of minority or controlling interests in companies.

Written By: Dakota

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