SAN FRANCISCO — Mainsail Partners, a growth equity firm that invests in bootstrapped companies, said it has successfully raised $384 million for its fourth fund, Mainsail Partners IV, L.P. The oversubscribed fund closed in December and took just over two months to complete. The firm will use the fund to continue its strategy of investing in bootstrapped companies and driving accelerated growth through operational expertise and management support.
“The high caliber of investors who participated and speed with which we raised our fourth fund are further validation that our strategy continues to resonate,” said Gavin Turner, managing partner at Mainsail. “We are honored by the quality of new and returning investors who have chosen to partner with us in this latest fund.”
A core component of Mainsail’s strategy is to provide operational support in specific areas to help companies sustain high growth rates. Inherently, bootstrapped companies have strong products and are typically well managed, but they are often under-invested in infrastructure, have gaps in key management positions, and have limited time to keep up with the latest best practices. To help companies address these challenges, Mainsail has built a dedicated operations team with functional expertise in sales, digital marketing, recruiting, product management, customer success and finance.
“Our team of outstanding men and women is purpose-built to help bootstrapped companies achieve their potential,” said Jason Payne, managing partner at Mainsail. “We deliver capital, resources and expertise with the goal of helping entrepreneurs achieve faster growth with less risk than they would have been able to achieve on their own.”
Mainsail invests in three core industry sectors: software, technology-enabled services and healthcare. The firm has made more than 20 investments in bootstrapped companies over the past 13 years and has developed specific expertise to help these companies scale and succeed.
Recent investments include 3PL Central, Brilliant Earth, Ncontracts, nCourt, Netchemia, PlayMaker CRM, SQL Sentry and Zen Planner. The firm has raised over $750 million in committed capital.