Plutus Capital Partners has closed a $50 million fund to provide financing for small and mid-sized businesses and real estate developers.
The Tampa-based private investment firm launched its second fund in November 2024, in response to growing demand for private credit. The fund aims to provide capital to borrowers seeking between $2 million and $7 million per transaction, with investment terms ranging from one to three years.
Plutus was founded in 2021, amid tightening lending restrictions from traditional banks making it more difficult for borrowers to secure customized financing. The firm focuses on providing alternative capital solutions with faster turnaround times than conventional lenders. In 2021, Plutus raised $25 million for its first fund, which has since been fully deployed.
The fund is backed by the family offices of the DeBartolo, Lasher, Mallitz and Shah families. Its advisory board includes business and community leaders such as Hillsborough County Sheriff Chad Chronister, former professional football player Derrick Brooks and executives from DeBartolo Development, Liberty Group and Quantum Capital Partners.
Plutus Capital Partners is led by Chief Executive Officer Matt Gough, Chief Financial Officer Derek Craig, Senior Vice President Andre Kirwan and Vice President LJ Pennachio.