Petra Capital Partners announced it completed fundraising on Petra Growth Fund V (PGF V) with $270 million of capital available to invest. And the fund was oversubscribed and reached its hard cap.
Consistent with the prior funds, PGF V will target healthcare, business, and technology-enabled services companies and is structured as a small business investment company (SBIC) licensed by the U.S. Small Business Administration (SBA).
Petra also announced that the fund has already made its first platform investment in a leading primary market research and analytics firm serving the pharmaceutical, healthcare, and consumer industries.
With the raising of this new fund, Petra also revealed that Matt Sotelo has been promoted to Partner. Petra will continue expanding its investment team and is currently recruiting qualified candidates for associate-level positions.
KEY QUOTES:
“We are very pleased with the response from our existing investors and several important new investors for PGF V and the strong support we received from the SBIC program.”
- Mike Blackburn, Founding Managing Partner at Petra
“We are excited to begin deploying PGF V and with increased capacity to invest per deal, Petra can support its companies longer in their life cycles with a combination of flexible debt and equity solutions”.
- Doug Owen, Managing Partner at Petra
“This new investment fits squarely into one of our core investment sectors of healthcare and pharma services and represents a compelling opportunity for the fund.”
“We are pleased to add Matt as a Partner in the firm. His promotion reflects his hard work, talent and significant contributions to Petra over the last 12 years.”
- David Fitzgerald, Managing Partner at Petra
