Partnering with the teams building the AI economy.
Fifth Turn Capital is a private equity firm partnering with exceptional management teams at the intersection of artificial intelligence and technology.
Fifth Turn Capital is a private equity firm that partners with management teams to acquire and grow established agentic AI companies serving SMBs. We work alongside owners and operators — where conviction, operating discipline, and a real understanding of the technology matter most.
The name reflects our belief that AI represents another turn of the wheel in how technology reshapes the economy — the kind of platform shift that comes along rarely and rewards those who invest with conviction and build with discipline. We back that thesis with capital, operating experience, and a genuine partnership mindset.
AI at the core
Companies where intelligence is the product, not a feature — built AI-native from the start.
Exceptional teams
Technical, resourceful management teams with a sharp view of the problem and the resolve to build.
Durable businesses
Real markets and business models, not just impressive demos — technology in service of value.
We invest with conviction and stay close. Having built companies ourselves, we know that the most valuable thing an investor can offer isn't just capital — it's honest counsel, fast answers, and a partner who has shipped product and sat in the operator's chair. We keep our portfolio focused so management teams get real attention, not a name on a cap table.
CEO
Paul Lundmark
Chief Executive Officer
Paul Lundmark leads Fifth Turn Capital as CEO. After more than two decades in investment and portfolio management — most recently at Richmond Capital Management — he saw the opportunity that artificial intelligence represented and left traditional asset management to pursue AI-focused private equity.
He is also CEO of Flowlinx, an AI software company, giving him a rare dual perspective as both an operator building AI products and an investor backing AI companies.
Building an AI-native company?
If you lead an AI-native company, we would like to hear from you. Reach us at team@fifthturncap.com.