PeakEquity Partners closed its first fund at $137 million

Radnor, Pa.-based PeakEquity Partners, an equity firm looking to acquire software companies, has closed its first fund at $137 million.

The firm, founded by veteran investors Greg Case and Paul Winn, was launched in late 2013 as CaseWinn, taking on its current moniker in 2014.

As Philly.com’s Joe DiStefano reports, the firm has already made three investments in enterprise software companies:

• G5, a Bend, Ore.-based digital marketing platform for real estate companies.
• EnterpriseDB, a Bedford, Mass.-based PostgreSQL open-source platform.
• Valiant Solutions, a Woodbury, N.Y.-based payroll, worktime, labor management and HR software provider.

According to cofounder Greg Case, the firm will keep aiming to invest in lower middle-market enterprise software companies with $15-$50 million in revenues. The firm’s sweetspot lies in companies with “proven technologies and a large installed base of referenceable customers.”

“We anticipate that the number of companies that fit this profile with management teams that want an experienced financial/operating partner will continue to grow,” Case told Technical.ly in an email. “Our goal is to help management of these companies scale their businesses to $75-$150 million or more of revenues over time.”