Investment Criteria

Target Company Profile
  • Industry: Healthcare, SaaS and tech-enabled business services.
  • Geography: Entire U.S., with a particular focus on the Southeast, Midwest and Rockies regions.
  • Stage of Business: Growth-stage companies, with north of $2M of revenue. We invest in companies that are either already experiencing significant growth or we believe are at an inflection point in their growth cycle.
  • Business Model: Tech-enabled services or SaaS. Recurring or re-occurring revenue with predictable cash flow and low capital intensity.
  • Other Characteristics: Defensible market position with essential product/service offering.
  • Markets: Companies that compete in sectors with an addressable market size of $500M+.
  • Ownership: Founder-owned, primarily. We are generally the first institutional capital invested into our portfolio companies.
  • Management Team: Critical investment criteria on every investment. We have a history of backing management teams capable of dramatically altering the trajectory of their businesses.
Investment Characteristics
  • Investment Size: $4M+ per investment.
  • Use of Proceeds: Growth capital and/or shareholder recapitalization.
  • Management: Significant equity ownership and meaningful equity incentive upside.