BOSTON — Silversmith Capital Partners has closed its fifth fund, securing $1.7 billion in commitments and pushing the firm’s total capital raised to over $5 billion since its founding a decade ago. The new fund, launched in May 2025, hit its target and hard cap within three months, continuing the firm’s track record of rapid fundraising and strong backing from limited partners.
The fund includes $1.6 billion from external investors and $110 million from the Silversmith team. Over 50 senior executives also participated in the raise, which was oversubscribed.
“Since day one, we’ve stayed focused on what we do best – backing exceptional founders solving real problems,” said Todd MacLean, managing partner and co-founder. “That commitment has guided every fund we’ve raised and every partnership we’ve built.”
Silversmith, a growth equity firm focused on technology and healthcare, primarily invests as the first institutional partner in bootstrapped companies. Over 70% of its capital has gone to such investments, supporting founders through multiple stages of growth.
As part of this milestone, Sri Rao has been promoted to managing partner, joining founding partners MacLean, Jeff Crisan, Jim Quagliaroli, and Lori Whelan. Rao joined the firm in 2015 and has played a key role in shaping its strategy, team, and founder-first culture.
“Sri embodies what we’re trying to do at Silversmith,” said Quagliaroli. “He leads with humility, puts founders first, and builds lasting relationships based on trust and understanding.”
Fund V will continue Silversmith’s strategy of making both minority and majority investments in growth-stage companies across its core sectors. Kirkland & Ellis served as fund formation counsel.
