Mainsail Partners, a growth equity firm investing in bootstrapped B2B software companies to help them grow into market leaders, announced the closing of its seventh flagship fund Mainsail Partners VII at the hard cap of $1.535 billion in limited partner capital commitments, which is the largest in the firm’s 22-year history. And support from existing and new investors allowed Mainsail to raise the oversubscribed fund in less than 100 days, bringing the total capital commitments raised by the firm to nearly $4 billion.
Since 2003, the team at Mainsail has been trusted by bootstrapped founders to help companies scale and grow. And with Fund VII, Mainsail will focus on the next generation of customer-obsessed software companies that have built successful products, and can utilize Mainsail’s experience and operational resources to help them achieve their visions for continued company, customer, and personal growth.
Since closing the last fund in 2022, Mainsail expanded its team by more than 20 professionals—including senior-level operators with deep experience spanning AI, customer experience, demand generation, pricing, product, and revenue operations to deliver the next level of strategic support to portfolio companies, which the firm believes gives them a competitive advantage.
Mainsail has already completed two growth equity investments out of Fund VII in SaaS companies:
1.) Inn-Flow raised $45 million from Mainsail to help accelerate innovation, enhance customer experience, and fuel growth for its all-in-one hotel management and accounting platform.
2.) ChiroHD, a cloud-based practice management system for chiropractors, closed $26 million from Mainsail to help advance AI-powered product innovation, enhance platform experience, and expand customer support.
Agent/Counsel: Lazard served as placement agent for Fund VII and Kirkland & Ellis served as fund counsel.
KEY QUOTES:
“We’re grateful for the continued trust of our existing investors and excited to welcome new investors into the Mainsail community. We have tremendous respect and admiration for the hard work, discipline and cultures that bootstrapped founders cultivate. The same way these founders obsess about delivering value to customers, we obsess about delivering support to our portfolio partners. We remain focused on partnering with them and rolling up our sleeves to help them scale efficiently, deliver outstanding customer outcomes, and grow to become the next generation of market leaders using AI to drive competitive advantages and sustained performance.”
Gavin Turner, Managing Partner and co-founder of Mainsail Partners
“As a founder, being customer-obsessed and culture-driven is core to how we operate and it’s why many of us started our companies—so it was critical to find an investor who shares those values. With Mainsail, we found collaborative, respectful partners who understand the mindset of bootstrapped founders and bring deep, hands-on operating experience to help us invest in our products and team, and ultimately serve our customers better. They’re supportive of our visions as founders, but they also constantly challenge us to expand the realm of what’s possible and be our best.”
Caleb Frankel, founder and CEO of Instinct Science
