2020 was a year unlike any other. We have all had to embrace the new normal. The Patriot Capital team navigated a tough environment and added real value to our portfolio companies, offering needed strategic advice, creative capital, government assistance, and other solutions to help them through the pandemic. As the saying goes, “Change is the only constant in life” and the Patriot Capital team leaned into the uncertain environment to meet these challenges head on. We have added more people and perspectives to our team to keep driving Patriot Capital forward.
Despite the challenges we faced in 2020, Patriot Capital and our portfolio companies persevered to end the year with several achievements. We invested in five new platform companies in the last 12 months, reaching 16 platform investments and over $220 million of invested capital in Patriot Capital IV. We also supported our existing platform investments through a number of “add-on” investments. In total, six Patriot portfolio companies made add-on investments in 2020. The Funds also benefited from five portfolio company exits across the platform.
We are thankful for our employees, our portfolio management teams, our advisory board, our investors, and our partners for their hard work, grit, resilience, and advice. We value your relationship and hope 2021 brings you fresh optimism and renewed success.