We study moduli spaces of Ulrich bundles of rank r >= 2 on the Fano 3-fold V-5 of Picard number 1, degree 5 and index 2. We prove that the moduli space of stable Ulrich bundles of rank ron V-5 can be identified with a smooth (r(2) + 1)-dimensional open subset of the moduli space of stable quiver representations with dimension vector (r, r) of the Kronecker quiver with 2 vertices and 3 arrows. (C) 2021 Elsevier Inc. All rights reserved.