Popular Searches:
Recommended Posts
Search Results
Inverness Graham, a Philadelphia-based buyout firm focused on acquiring innovative, high-growth companies where technology is transforming traditional industry, has announced the final closing of Inverness Graham Investments V (“Fund V”) at $400 million. The final close was announced on May 13, 2026. The closing brings the firm’s total assets under management to more than $1.8 billion, with over $825 million in capital commitments raised across all vehicles and fund strategies over the past three years — reflecting a dynamic period of growth and institutional expansion at the firm.
With more than two decades of investment and operational expertise in control buyout investments across the North American lower middle market, Fund V will continue Inverness Graham’s strategy of partnering with founder-owned and founder-led businesses. The fund primarily targets opportunities in three core sectors: Healthcare, Tech-Enabled Services and Software, and Advanced Manufacturing.
Fund V’s approach is anchored in Inverness Graham’s proprietary Strategic Platform Build framework — a methodology for building businesses of enduring value through operational enhancements and transformative M&A. The firm’s track record in executing this approach across multiple market cycles has become a key differentiator in the highly competitive lower middle market landscape.
Fund V received strong support from both existing and new institutional investors, reflecting sustained confidence in Inverness Graham’s investment thesis and operational capabilities. To date, Fund V has completed two investments, both performing well and closely aligned with the Strategic Platform Build approach.
The first investment, Cognito Forms, is a provider of low-code/no-code workflow automation solutions serving compliance-driven sectors including healthcare, education, and legal. The second, Axcel Learning, is an online professional education, certification, and test preparation platform serving end-markets where industry certification exams are critical for employment and career progression — a structurally attractive niche with strong recurring demand characteristics.
The Fund V close marks a significant milestone in a broader period of organisational growth at Inverness Graham. The firm today manages two distinct fund strategies and continues to expand its institutional capabilities across deal sourcing, transformative M&A, portfolio value creation, and AI enablement. Recent additions include promotions of longstanding investment professionals to the Partner and Principal levels, as well as new Senior Operating Partners and a dedicated AI-focused executive joining the Value Creation Group — each bringing 25 or more years of relevant experience.
Ken Graham, Co-Founder and Chairman of Inverness Graham, described the successful closing of Fund V and the broader $825 million capital raise as a testament to the trust and confidence that investors place in the firm’s Strategic Platform Build approach and its broader lower middle market investment capabilities. He framed Fund V as the culmination of more than two decades of productive partnership with founder-owners, expressing renewed energy to identify and build the next generation of market-leading lower middle market businesses in North America.
Rede Partners served as global fundraising advisor, and Latham & Watkins LLP served as legal counsel for the Fund.
Inverness Graham is a Philadelphia-based buyout firm with more than two decades of investment and operational expertise in control buyout investments across the North American lower middle market. The firm focuses on acquiring innovative, high-growth companies where technology is transforming traditional industry, partnering with founder-owned and founder-led businesses in Healthcare, Tech-Enabled Services and Software, and Advanced Manufacturing. Inverness Graham manages more than $1.8 billion in total assets under management across two distinct fund strategies and is known for its proprietary Strategic Platform Build approach to building businesses of enduring value through operational enhancement and transformative M&A.
