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Pennybacker

Private equity

Austin · 20 people tracked

Also known as Pennybacker Capital Management, Llc

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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.

HQ
Austin, TX, US
Instruments
Equity · Debt
Founded
2006
AUM
$4.9B
Tracked investments
1

Team · 20 people

from the firm's website

What they invest in

from 1 of 1 portfolio companies

Cleantech ×1

HQs:United States×1

Investments · 1 tracked

founders shown can be your intro path
Cambrian InnovationNov 2023

CleantechBoston, 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 companies

Fund performance · per public LP disclosures · 3

as of Dec 2025
FundVintageCommittedNet IRRTVPIDPI
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 Company1.9%1.07x0.16x
PENNYBACKER VI LPLPs: Texas Municipal Retirement System, Kern Family Foundation, University of Texas Investment Management Company5.5%1.07x0.00x

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.

Images

Pennybacker photo

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