Dallas-based lower-middle market private equity firm Crux Capital announced the final closing of its first institutional fund, Crux Capital Fund I LP.

“We’re incredibly grateful for the conviction and trust shown by our new and existing partners,” Crux Capital Managing Partner Wayne Moore said in a statement. “We believe this fundraise is a powerful endorsement of our specialized strategy of partnering with talented founders and management teams in the consumer and commercial services sectors. The firm has deep roots in the Sunbelt, and we’re excited to deploy capital to help high-quality businesses in this vibrant region achieve their full potential.”

Crux focuses on partnering with businesses in the consumer and commercial services industries with a strong presence in the Sunbelt region. Its five platform companies are HTeaO, Woody’s Brands, Uncommon Brands, Superscapes Landscape & Irrigation, and Buff City Soap.

In 2024, the firm expanded its investment team following “a killer year,” boosting its consumer and services expertise.

Crux Capital Partner James Kay [Photo: Crux]

The new fund was oversubscribed and closed at its hard cap with more than $340 million in capital commitments after a nine-month fundraising period. Crux said it secured commitments from a diverse and respected group of global investors, including university endowments, charitable foundations, family offices, funds of funds, and industry executives.

Crux said it will continue to execute its strategy of making control and significant minority investments in founder- and family-owned businesses, often as their first institutional capital partner. Crux’s deep industry networks and operational experience position it to partner with business owners seeking to accelerate growth and scale their enterprises.

“The enthusiastic response to our first fund speaks to the compelling opportunities we see in the lower-middle market,” Crux Capital Partner James Kay said. “For many entrepreneurs, we’re the first institutional partner they’ve had, and we don’t take that responsibility lightly. Our collaborative, hands-on approach is designed to provide not just capital, but the strategic and operational resources necessary to help these companies build lasting value for all stakeholders.” 

Lazard was the exclusive placement advisor to the fund and Weil, Gotshal & Manges LLP served as legal counsel.

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