Plymouth Growth closes its fifth fund with $125 million

ANN ARBOR–The private equity firm Plymouth Growth announced the successful closing of Plymouth Growth V, LP, with approximately $125MM in committed capital.

Officials with the company said Plymouth Fund V is exclusively focused on investing in high-growth, B2B software and tech-enabled services companies throughout the North American mid-continent.

The fund, led by partners Jeff Barry, Brook Critchfield, Kevin Terrasi, and Evan Ufer, is the firm’s largest to date with commitments nearly double its prior fund. With a focus on business-to-business technology, Plymouth Growth has a long history of identifying promising companies and working with management teams to help them achieve successful outcomes.

Said Ufer: “Having successfully achieved our target for Fund V in a challenging environment, we are truly grateful for the trust and support our investors have in our firm and its vision.”

And Critchfield added: “We are proud of our track record and the role we have played in helping to build some of the region’s most successful tech companies. Our expanding investment team is excited to build on this momentum in Fund V and continue joining forces with exceptional leadership teams.”

With this new capital, Kathleen Kaulins recently joined the firm as a senior member of the investment team. Kaulins, a Michigan native, came to Plymouth from Vistara Growth, where she served as investment director. Prior to working as an investor, she spent more than 10 years at two New York City-based technology startups where she led several different functions including finance, strategy, operations, and product. Kaulins began her career as an investment banker at UBS.

In addition to Kaulins, the firm has doubled its investment team in the past two years–adding Michelle Erikson, senior associate, Alison Todak, director of platform, and Caroline Wolanin, analyst–to support its accelerated investment activities.

Fund V has already invested in six growth-stage technology companies, including most recently Forj and CloseSimple, and will continue to make $5 million to $10 million investments in the next wave of B2B businesses looking to scale.

For more information about Plymouth Growth and its investments, visit

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