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We do not rely on financial engineering. What works now is operational value creation, and that has been our approach from the beginning.

Commercial optimization

Pricing, packaging, and go-to-market, sharpened by an investor who has sold to superintendents, plant managers, and station owners because he has been their counterpart.

Product acceleration

Prioritizing the features that deepen workflow integration and raise switching costs, informed by an engineer who designed the very processes this software digitizes.

Operational efficiency

A diagnostic that begins with the financials, then walks the operation, then becomes the customer. Most operational problems are systems problems, not people problems.

Platform growth

Selectively acquiring complementary tools within the same vertical to deepen the software’s position as the operating layer of the industry.

The median buyout fund returned 5.7% IRR from 2022 to 2025, and generalist private equity has underperformed public equities for three consecutive years.

When multiple expansion and cheap leverage disappear, only what is under the hood matters. We were built for these conditions.

What we look for, stated plainly. The thresholds are floors, not aspirations.

Control acquisitionsMajority or full buyout of founder-built vertical software.Stage
Mission-critical softwareThe product is the system of record. The business cannot run without it.Profile
$500K – $5M ARRReal revenue, loyal customers, room to scale with an operating partner.Size
90%+ logo retentionA hard floor. Customers stay because switching is genuinely hard.Retention
70%+ gross marginA hard floor. Durable software economics, not services dressed as software.Margin
A domain-expert founderA strong leader of people who thinks at scale and is aligned on long-term value creation.Founder