Fifth Turn Capital Launches to Invest in Established AI Companies, Led by CEO Paul Lundmark

RICHMOND, Va. — March 4, 2026 — Fifth Turn Capital, a private equity firm specializing in artificial intelligence that partners with management teams to acquire and grow established agentic AI companies serving small and midsize businesses, today announced its launch. Based in Richmond, Virginia, Paul Lundmark serves as chief executive officer of the firm.

Fifth Turn Capital partners with the leadership of established, lower middle-market companies — the moment when conviction, speed, and a genuine understanding of the technology matter most to durable growth. The firm invests behind a single thesis: that artificial intelligence is a rare, foundational platform shift, and that the companies defining it will be built AI-native at the core rather than bolting intelligence onto existing products.

Lundmark brings more than two decades of experience in investment and portfolio management to the firm. A CFA charterholder, he spent his career in traditional asset management, most recently at Richmond Capital Management. He left that world to pursue AI-focused private equity full-time after concluding that artificial intelligence represented a generational opportunity best captured by acquiring and growing the established companies creating it.

"After more than twenty years managing portfolios, I became convinced that AI is the most significant shift I will see in my career. I did not want to watch it from the sidelines. Fifth Turn Capital is my commitment to partnering with the management teams who are actually building it — and helping their companies grow."

— Paul Lundmark, CEO, Fifth Turn Capital

The firm focuses on companies where intelligence is the product itself, led by capable management teams running durable businesses in real markets. Rather than spreading capital across a large portfolio, Fifth Turn Capital keeps its focus deliberately narrow so that management teams receive real attention, honest counsel, and a partner who has sat in the operator's chair.

That operator's perspective is more than theoretical for Lundmark. Alongside his role at Fifth Turn Capital, he serves as chief executive officer of Flowlinx, an AI company building AI-native software for real business workflows. Leading a company that builds AI products gives him a dual vantage point that few investors share — an investor partnering with AI management teams who is, at the same time, building an AI company himself.

"I want to be the investor I would have wanted as an operator — someone who has shipped product, understands the technology, and gives you a straight answer fast. Building Flowlinx keeps me close to the same problems the management teams we partner with face every day."

— Paul Lundmark, CEO, Fifth Turn Capital

Management teams and owners of established AI-native companies can learn more about the firm at fifthturncap.com, and can read more about Paul Lundmark on his profile or connect with him on LinkedIn.