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Strategies Growth equity

Growth · Pelham Growth Fund III

Growth equity

Minority checks for software and climate technology companies past product-market fit.

Pelham leads Series A through C rounds in vertical software and climate technology. We invest primary capital to fund expansion, provide liquidity to early shareholders, and help founders turn a working product into a working company.

Fund
Pelham Growth Fund III
Fund size
$0.85B
Vintage
2023
Check size
$5–40M
Holding period
4–7 years
Target IRR
22–28%

Sectors

  • Vertical software
  • Climate technology
  • Applied industrial software

Geography

  • United States
  • Canada
  • United Kingdom

Value creation playbook

Four operating levers we pull across every company in this strategy.

  1. 01

    Build a repeatable sales motion from founder-led sales

  2. 02

    Hire and onboard the first VP of Sales, VP of Product, and CFO

  3. 03

    Install operating dashboards and a quarterly planning rhythm

  4. 04

    Open the first European go-to-market office

Read the full value creation playbook

Track record

Fund vintages — illustrative

Fund vintages for Growth equity. Illustrative figures.
Fund Vintage Size ($M) Called ($M) Distributed ($M) NAV ($M) TVPI DPI IRR Status
Pelham Growth Fund I 2015 320 318 612 18 1.98× 1.92× 24.1% realized
Pelham Growth Fund II 2019 540 510 460 540 1.96× 0.90× 26.3% active
Pelham Growth Fund III 2023 850 212 0 224 1.06× 0.00× 8.4% active

Figures are illustrative and not a guarantee of future results. TVPI = Total Value to Paid-In. DPI = Distributions to Paid-In. IRR = Internal Rate of Return.

Active portfolio

9 companies in this strategy

All companies
  • active

    Quartzfield

    Vertical software

    Operations software for landscape and grounds maintenance contractors.

    Company detail
  • active

    Lattice Claims

    Vertical software

    Claims handling software for property and casualty insurers.

    Company detail
  • active

    Membrane Bio Separations

    Climate technology

    Membrane-based separations for industrial wastewater.

    Company detail
  • active

    Cardinal Charging

    Climate technology

    Charging hardware and software for commercial fleet depots.

    Company detail
  • active

    Brightline Automation

    Applied industrial software

    Scheduling software for automated warehouse robotics.

    Company detail
  • active

    Ashgrove AgTech

    Climate technology

    Variable-rate input software for row-crop farms.

    Company detail

Talk to the team

Working on something that fits?

We respond to founders and limited partners within five business days.

Contact the Growth team Meet the team