# Plexus Capital

Plexus Capital is an Asset Manager based in Raleigh, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Raleigh, United States
- **Region:** North America
- **Address:** 4242 Six Forks Road, Suite 950 Raleigh, NC 27609, United States
- **Founded:** 2005
- **Assets under management:** Undisclosed
- **Website:** www.plexuscap.com
- **LinkedIn:** https://www.linkedin.com/company/plexus-capital-llc

## Regulatory record

- **CRD number:** 310241
- **SEC file number:** 801-126297
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/310241

## About

Plexus Capital is an SEC-registered investment adviser in Raleigh, NC, registered since 2022. The firm manages approximately $3.8 billion in regulatory assets. It has 50 employees and 33 investment advisers.

## Sectors

- Industrial Tech
- Healthcare Services
- Enterprise Software
- Business Services
- Real Estate
- Energy Transition & Renewables
- Media & Entertainment
- Consumer

## Offices

- Charlotte, NC

## People

- Michael Painter — Managing Partner, Owner
- Bob Anders — Co-Founder, Partner, Owner
- Mike Becker — Co-Founder, Partner, Owner
- Kel Landis — Co-Founder, Partner (deceased 2021)

## Questions

### Who runs investment decisions at Plexus Capital?

Michael Painter serves as Managing Partner and leads the firm day-to-day alongside the co-founder group and a set of next-generation partners who became owners in 2021. Investment committees draw from a broad partner group that includes Bob Anders, Mike Becker, Jay Jester, Will Anders, Alex Bean, Brad Pence, and Barrett Biringer, among others.

### How does Plexus Capital source proprietary deal flow?

Plexus routes structured capital referrals through principals Cameron Coley and Kevin Speight, while buyout sourcing runs through Madelaine Thomas, Director of Business Development and Data Operations. The firm leans on a network of independent sponsors, search funds, and management teams within the lower middle market — a segment where its 200+ portfolio company relationships provide repeat origination and warm introductions.

### Does Plexus participate in fund commitments or only direct deals?

Plexus deploys capital directly into companies, not as a fund-of-funds. Its structured capital arm provides debt with equity co-investment alongside independent sponsors and management teams, while its buyout fund acquires majority stakes in founder- and family-owned businesses. The firm does not market itself as a limited partner in other managers' pooled vehicles.

### What investment stages does Plexus Capital target?

Plexus targets profitable lower-middle-market companies with $2 million to $15 million in EBITDA. The structured capital strategy supports recapitalizations, growth investments, and management buyouts. The buyout strategy focuses on change-of-control transactions in founder- and family-owned businesses at the same scale. The firm explicitly stays within sub-$150 million revenue enterprises.

### How is Plexus Capital structured differently from a typical private credit or buyout firm?

Plexus houses a structured capital fund and a buyout fund inside a single partnership, letting the same team execute non-control debt-plus-equity deals and full majority acquisitions in the identical EBITDA band. This dual-fund architecture means a founder or independent sponsor can start with a structured capital relationship and transition to a control sale without switching counterparties.

### Which sectors does Plexus Capital explicitly avoid?

Plexus does not publish formal sector exclusions. Its portfolio ranges from industrial services and manufacturing to healthcare, software, and business services — reflecting a generalist lower-middle-market mandate rather than industry concentration. The firm does not flag any specific industry as off-limits in public materials.

## Related profiles

- [Plexo Capital](https://altss.com/profile/plexo-capital)
- [PLG Ventures](https://altss.com/profile/plg-ventures)

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Last updated: 2026-06-03T20:00:00.000Z

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