Mainsail Partners has raised $915 million for its sixth growth equity fund. Mainsail Partners VI is seeking to make investments between $30 million to $60 million apiece. Mainsail backs bootstrapped software companies.
AUSTIN, Texas & SAN FRANCISCO–(BUSINESS WIRE)–Mainsail Partners, a growth equity firm that seeks to invest in rapidly growing, bootstrapped software companies, announced it has raised $915 million in limited partner capital commitments for its sixth fund, the largest in the firm’s 19-year history. The new fund, Mainsail Partners VI, L.P., was oversubscribed and closed in less than three months, bringing the total capital commitments raised by the firm to more than $2.2 billion.
Mainsail seeks to continue its strategy of targeting $30 million to $60 million investments in rapidly growing, founder-led software companies and providing significant operational support to help them scale.
“We are grateful for the support of our existing investors and excited to welcome new investors into the Mainsail family,” said Gavin Turner, Managing Partner and co-founder of Mainsail Partners. “Last year was the most active in Mainsail’s history in terms of the number of new investments and portfolio companies that were acquired or went public. We believe this momentum is validation of our approach to partnering with bootstrapped founders and providing hands-on operational support to help their companies scale fast and efficiently.”
Since 2003, Mainsail has invested in more than 60 bootstrapped companies and has built an in-house team intended to help software companies efficiently accelerate growth. Mainsail’s Operations Team is comprised of experienced technology operators who work closely with management teams to help them recruit executive talent, optimize go-to-market strategies, launch new products, enhance customer experience organizations and establish strong data systems.
Mainsail has extensive experience investing in software companies that we believe have the potential to be category leaders. Recent investments include Apptega, ServiceCore, Inspect Point, Boostlingo, JobNimbus, PlanHub, Syncro and SourceScrub. Two previously announced investments are the first of the firm’s sixth fund: Centerbase, a software platform for law firms, and Flight Schedule Pro, a software provider for the aviation industry.
“The primary reason we chose Mainsail as our partner was for their experience investing in and scaling software companies like Boostlingo,” said Bryan Forrester, co-founder and CEO of Boostlingo. “In a short period of time, they’ve exceeded our expectations, helping us to hire key executives, completing multiple add-on acquisitions and supporting our team in optimizing go-to-market operations.”
Since completing its last fundraise in 2020, the firm has promoted three new Partners, opened an office in Austin and bolstered its Operations Team with six new hires, including a CTO and COO.
About Mainsail Partners
Mainsail Partners is a growth equity firm with offices in Austin and San Francisco that seeks to invest in rapidly growing, bootstrapped software companies. The firm has raised over $2.2 billion and invested in more than 60 bootstrapped companies since 2003. Mainsail has extensive experience investing in B2B software companies that the firm believes have the potential to be category leaders. Mainsail’s approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.