We look for some or all of these key business model attributes in the companies in which we invest:
- Recurring or re-occurring revenue from a diverse customer base
- Attractive go-to-market fundamentals that can be accelerated to achieve double-digit annual revenue growth during our investment period
- Highly scalable business models, often evidenced by attractive customer acquisition cost, high retention, and compelling gross margins
- Capital efficiency with low annual maintenance capex needs
How We’re Different
Dynamics around an investment are as important as the business model. We look to partner with founders who share our values and want to retain meaningful economic interests.
We’re business builders.
Our focus has been, and will always be, on helping our partner companies grow, not on growing our assets under management.
In the lower middle-market, we believe the ability to be patient is both valuable and a differentiator. Sustainable, long-term value creation often comes at the expense of near-term profits.
Capital alone can’t accelerate growth, which is why our goal is to empower our partner companies with real-world advice and practical support. We don’t look to put our hands on the wheel, but we’re more than happy to help navigate.
We’re stewards of our investors’ capital first and foremost, but we’re also stewards of the companies – and legacies – in which we are privileged to invest. We feel tremendous responsibility to leave our partner companies, and their people, better than we found them.
Our focus on enterprise software and tech-enabled business services helps us be the value-added partners we strive to be. We don’t swing at many pitches, but when we do, we swing hard.