Troutman Pepper Locke advised Petra Capital Partners, a private equity firm engaged in providing growth capital for companies located throughout the U.S., in its completion of fundraising on Petra Growth Fund V (PGF V) with $270 million of capital available to invest. The fund was oversubscribed and reached its hard cap.
Consistent with prior funds, PGF V will target health care, 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). The fund has already made its first platform investment in a leading primary market research and analytics firm serving the pharmaceutical, health care, and consumer industries.
The team advising Petra Capital Partners was led by Michael Temple and included Patrick Bianchi, Duma Ali, Jennifer Prushan, and Saba Ashraf.