Pennybacker
Private equityAustin · 20 people tracked
Also known as Pennybacker Capital Management, Llc
Investment thesis
Pennybacker invests in real estate and infrastructure enhancement opportunities across the United States, aiming to produce strong returns by applying operational experience, near real-time insights, and predictive analytics to optimize property values and portfolio performance. The firm partners with management teams in underserved and lower-to-middle markets to grow contracted, real-asset intensive operating businesses and to capitalize on converging market tailwinds. It combines boots-on-the-ground experience with proprietary technology that predicts trends and optimizes portfolios, cultivating diverse perspectives and deep experience to spot opportunity, mitigate risk, and adapt across market cycles.
Source: firm website, verified Aug 25, 2026.
Team · 20 people
from the firm's websiteWhat they invest in
from 1 of 1 portfolio companiesCleantech ×1
HQs:United States×1
Investments · 1 tracked
founders shown can be your intro pathCleantechBoston, US
Matthew Silver(Executive Officer, Director)Bruce Smith(Executive Officer)Justin Buck(Executive Officer, Director)
BoardJoseph Caruso(Director)
Co-investorsSpring Lane Capital
Portfolio news
latest coverage across their companiesCambrian Innovation · prnewswire.com · Sep 17, 2025
Fund performance · per public LP disclosures · 3
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| PENNYBACKER EIVLPs: Texas Municipal Retirement System, University of Texas Investment Management Company | — | — | -0.7% | 0.98x | — |
| PENNYBACKER V LPLPs: Texas Municipal Retirement System, University of Texas Investment Management Company | — | — | 1.9% | 1.07x | 0.16x |
| PENNYBACKER VI LPLPs: Texas Municipal Retirement System, Kern Family Foundation, University of Texas Investment Management Company | — | — | 5.5% | 1.07x | 0.00x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What sectors does Pennybacker focus on?
- Pennybacker focuses on PropTech.
- Where is Pennybacker located?
- Pennybacker is headquartered in Austin, US.
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