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A profitable software business where the founder wants to take twenty to forty per cent off the table and keep running it.
INDUSTRIES
Technology & Software
Most founders we work with have built something valuable and can touch almost none of it. The company is profitable or close to it, the equity is real, and it is entirely on paper. The instinct in that position is to raise capital or sell the business outright. Both are often the wrong move, and both are usually made without anyone at the table whose only interest is the principal's.
We work with founders before that decision is made. The question is rarely whether the business has value. It is how to convert some of that value into capital without surrendering control, taking the wrong partner, or selling a company that is still compounding.
We back founder-led software with revenue behind it, not narrative. We are most active where a founder wants liquidity without an exit, and where fragmented operators are worth more assembled than apart.
We back founder-led software with revenue behind it, not narrative. We are most active where a founder wants liquidity without an exit, and where fragmented operators are worth more assembled than apart.
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01
Where we engage
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Minority recapitalisations that release liquidity while the founder keeps control
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Secondaries for founders, early employees, and angels ahead of a company-level event
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Roll-ups of sub-scale vertical software into a single platform, with the firm co-investing
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Growth capital for businesses past proof of model but short of institutional scale
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Direct positions for post-exit technology wealth that wants the deal, not a blind pool
Typical situations
Typical Situations
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Several sub-scale operators in one vertical that would be priced very differently as one platform.
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A founder with significant paper wealth and no liquidity until a distant company-level exit.
If you are at this point, or advising someone who is, it is worth a conversation.