Plexus Capital disclosed on Friday that it just completed putting up US$150 million in private capital from its existing limited partners. Pending its acceptance, the amount will be combined with an equal counterpart coming from the Small Business Administration to establish Plexus Fund III. The total capital funding available will be US$300 million, as disclosed by the firm.
The North Carolina based Plexus Capital is into providing investment to lower middle market business across the United States. It had been named as the U.S. Small Business Investment Company of Year for 2013.
At the announcement, Administrator of Small Business Administration, Karen Mills said "Plexus Capital's hard work, innovative ideas and dedication." Plexus will receive the award in the 21st of June at the celebration of National Small Business Weeks' 50th Anniversary.
Bob Anders, Managing Partner of Plexus said, "Being named the nation's Small Business Investment Company of 2013 speaks to the value we are providing to our investors and small businesses across the country. Plexus is distinguished by our focus on relationships, our determination to create access to growth capital for U.S. middle market businesses, and our proven ability to continue to earn the confidence of our investors. With investments in more than 50 businesses, and experience managing through all economic cycles, we have proven ourselves to be patient investors with the experience it takes to succeed."
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