Strong Traction
Proven demand, renewing enterprise customers, recurring or repeatable revenue, and technology that is integral to how value is delivered.
We invest where we have operated - in founder-led, tech-enabled services businesses. Our edge is the ability to diagnose what holds a good business back, install institutional discipline, and execute from inside the company.
Founder-led companies between $10M - $25M in revenue are often too large for venture capital but too operationally immature for traditional private equity. The result is a deep, fragmented market of strong businesses with proven demand, but incomplete institutional infrastructure - with few partners equipped to provide it.
This is a buyer-friendly market for those who can do the work. Outcomes in the lower middle-market are driven by operator capability, not financial engineering. We underwrite value creation through leadership upgrades, operating discipline, margin expansion and institutional readiness - not market beta, leverage or assumed multiple expansion.
We invest in AI-driven, tech-enabled businesses with genuine traction and identifiable execution gaps - companies where active, hands-on operating partnership can materially change the growth trajectory.
Proven demand, renewing enterprise customers, recurring or repeatable revenue, and technology that is integral to how value is delivered.
Underdeveloped financial controls, pricing, unit economics, go-to-market discipline, customer success, and leadership infrastructure - gaps our operating system is designed to close.
Revenue $10M - $25M with EBITDA from breakeven to $5M+. Control-oriented investments or structured minority positions with governance and protective rights.
A platform where AI can be deployed quickly to improve throughput, quality, margin and delivery capacity without rebuilding the business from zero.
Our approach turns operator judgment into a repeatable, measurable system: a diagnostic before every investment, an operating model installed inside every company, and a portfolio-wide flywheel that compounds the results.
A quantitative diligence framework that evaluates eight core drivers of enterprise value: board execution, operations and reporting, financial controls, marketing, go-to-market, customer success, product and human capital. Each company is scored before investment and re-scored annually to measure value creation and set operating priorities.
Knowledge, talent, technology, vendor leverage and commercial relationships shared across the portfolio. Solutions developed in one company are codified and redeployed across others to expand market access, reduce costs and accelerate execution.