Plexus Capital
At a Glance
Belongs on the call list when the deal is big enough for institutional structured capital; the published ranges tell you in one read whether yours is.
- Pricing
- Custom Pricing, Investment terms, not fees: publishes check sizes of $5M to $25M initially, with capacity beyond $50M through delayed draw facilities.
- Best For
- Searchers at the larger end of the band whose acquisition needs institutional structured capital alongside or instead of a single equity lead
- Lane
- Traditional
- Funds
- The deal only
- Based
- Raleigh and Charlotte, North Carolina.
- Invests
- Publishes no investing scope; worth asking directly.
- Published Terms
- Initial checks of $5M to $25M into companies with $2M to $15M of EBITDA, beyond $50M through delayed draws.
- Roadmap Stages
- 3. Set Up & Fund the Search
Pros and Cons
Pros
- Names search funds in its own fund mandate, in writing
- Publishes both its check range and its target EBITDA range
- Scale a searcher can verify: $3.5B raised and 214 companies funded by its own count
Cons
- The $5M minimum check sits above most first-time searcher deals
- Search funds are one lane of four in a generalist mandate, not a dedicated practice
- No searcher-specific economics or terms are published
What Searchers Say
A generalist lower-middle-market firm with Raleigh and Charlotte offices; the search-fund language appears in Fund VII's own description, and how many searcher deals it has closed is not published, so ask for searcher references.
How to Approach
Firms do not publish a term sheet you can prepare against, so this is how traditional (investor-backed) search capital comes in, what it weighs, and how to arrive ready.
The Typical Arc
- A first conversation on your background and why search, before any deal.
- A deep dive on your plan: industries, criteria, and how you will source.
- Backing for the search itself, then a fresh underwrite when you bring a live deal.
- A board seat and governance once you close.
What It Weighs
- Whether you will finish a two-year search, not only start one.
- The quality of your thesis and target criteria.
- How you will behave on a cap table over a long hold.
How to Prepare
- Bring a sourcing thesis, not a blank slate. Search Thesis Builder
- Know which firms lead versus follow, and on what terms. Investors
- Make your operator case on one page. Buyer Profile Builder
Put It to Work
Investors puts this firm beside every other verified source of search capital.