Companies you will want to buy, ready before you meet them.
For lower-middle-market and mid-market growth and buyout firms. How we prepare vertical SaaS companies for a private equity exit, the companies and founders we back, and how you can refer or follow one.
The best software companies spend years below your mandate.
Most PE platforms start at $20M+ in ARR, and more than 80% of lower-middle-market software deals are roll-ups and add-ons. Venture has moved on from non-AI software at this size. The bootstrapped founders who built through it come to you with unaudited books, a founder at the center of every deal and a cap table nobody has cleaned. We close that gap on purpose, years before you meet them.
We back them early
Growth equity and lending for capital-efficient B2B vertical software, alongside operators who have been CEOs, CTOs and CFOs of the same kind of company.
We prepare them for diligence
Audit-ready financials, a technical scan, a bench beyond the founder, a clean cap table and a complete data room, scored quarterly on nine readiness levels.
We introduce you when ready
We meet with a network of 100+ PE firms every quarter. By the time a company reaches the Exit Era, you already know it.
The companies and founders we look for.
If you meet a company like this and it is too early for your mandate, send it to us.
Vertical B2B software
A workflow that daily operations depend on, with proprietary data and real switching costs.
Profitable, or close
A demonstrated path to profit within six months. Bootstrapped or lightly funded.
Proven survivors
Five or more years in business, growing, with strong net revenue retention.
Revenue below your floor
Our investment profile is on the equity page. Companies in that range are the ones we can build for you.
A coachable founder
A recognized domain expert, disciplined and partnership-oriented, who wants a meaningful exit rather than an IPO.
A cap table seeking liquidity
Founders or early holders ready for partial liquidity.
We pass on turnarounds and rescue financings, businesses with no path to profit, and founders who need to sell within months at any price.
A simple test for the founder in front of you.
Below your floor, otherwise excellent
Recurring revenue, profitable or close, growing, with a founder open to a partner.
You cannot buy it yet. We can build it for you.
Near your floor, not ready
Short on financials, product, a bench beyond the founder or a clean cap table.
Tell us. We will say honestly whether we can help or whether it is yours.
At your threshold and ready
Audit-ready financials, documented product, management depth and a founder ready to run a process.
It is yours. Run your own process.
Nine levels show you where every company stands.
Exit Readiness Levels score each company from 0 to 9 across financial, product, demand, strategy, risk and talent dimensions, from evidence and not opinion. Each level has explicit criteria and none can be skipped.
Discovery, language-product-market fit and proof of market. Clean books, entity, ICP and first case studies.
Repeatable acquisition, dashboards, price optimization and Data Room 2.0. The business becomes a system.
Banker engagement, CIM, competitive process and negotiation. The business proves it runs without the founder.
Three ways to work with us, in any combination.
Refer a founder
Send us a company that fits and is too early for you. We respond with our view and keep you informed.
Share your buy-box
Tell us your revenue range, verticals, growth and profitability criteria. We map every portfolio company against it.
Follow one or more companies
At our quarterly meetings you see where each company stands on the nine levels and when it approaches the Exit Era.
Tell us what you buy. We will show you who to follow.
Share your buy-box, name a company you would like to track, or introduce a founder. We will send the full exit partner briefing on request.