It has landed just over $150m from 35 unnamed LPs according to a filing with the US Securities and Exchange Commission.
The commitments mean the fund is over halfway to its $225m total offering amount however, it is unclear if this is a target or a hard cap.
Back in October 2014, several Chicago Growth Partners executives left the firm to launch ParkerGale, which focuses on mid-market buyouts of tech-enabled services companies.
ParkerGale’s five founding partners are: Devin Mathews, Dave Chandler, Jim Milbery, Kristina Heinze and Ryan Milligan.
The firm says it only take majority control positions in profitable technology companies ‘where it can have a big impact on their future success’, according to is website.
It looks for companies with predictable revenue models, at least $2m in profits, and headquartered in North America.
ParkerGale’s current portfolio includes sensor and software business OnePlus, digital barcode ticketing and labeling provider FineLine, and men’s accessories designer and provider, among others.
The buyout house has previously sold recruitment and enrollment services provider Royall, global payment and risk management platform 2Checkout, and SaaS application SchoolMessenger.
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