08.27.26
Awards
GrowthCap is pleased to announce The Top Private Equity Firms of 2026. Over the past twelve months, the private equity industry has entered a more demanding period. Capital is more discerning, exit timing fluctuates, and buyers are taking a harder look at the businesses they acquire. At the same time, artificial intelligence is changing how companies operate and, in some cases, reshaping what makes a business valuable.
After more than two decades of watching the industry evolve, we continue to be most impressed by firms that see their role as more than providing capital. The firms that stand out are true partners to their portfolio companies, bringing strong leadership, deep sector expertise, and a willingness to do the hard work of building better businesses.
That work happens alongside management. It means making thoughtful investments, building strong teams, improving operations, pursuing growth with discipline, and making difficult decisions when circumstances change. The firms that excel are not waiting for the market to create value for them. They are helping their portfolio companies create it.
Our selections reflect what we have seen and heard throughout the year in conversations with investors, founders, CEOs, and other professionals across the private market ecosystem, as well as through our ongoing review of firm activity, investments, leadership, and performance. Our evaluation also considered nomination materials, direct firm communications, online submissions, proprietary research, and feedback from portfolio company CEOs, industry peers, and other private capital professionals.
We are grateful to all of the firms that participated in this year’s process, including those not featured in this year’s list, whose continued contributions and achievements reflect the strength of the private equity industry.
Please join us in recognizing and celebrating The Top Private Equity Firms of 2026.
Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in over 500 technology companies, making it one of the most active and longstanding investors in the technology industry. With over $75 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential.
FP has invested in over 60 founder-led businesses over the last 25+ years and has a deep understanding of both the personal dynamics of these companies and the passion behind their founders. The firm has also established itself as a partner and buyer of choice for corporates as they evaluate divestitures and partnerships due to FP’s domain knowledge, operational experience, core values and equity returns. FP operates creatively and is adept at identifying opportunities in untapped markets. The firm values transparency, collaboration and an orientation to action and believes that its employees’ diversity of thought and experience makes for a stronger, outperforming team. Many of FP’s portfolio companies rank as best places to work in their local communities and demonstrate a commitment to diversity, equity, and inclusion.
FP is highly focused on continuously learning and improving. That mission, along with the firm’s relentless pursuit of excellence, has driven the firm to consistently generate top returns.
“At FP, deep sector expertise in technology end markets positions us to partner with founders and corporates to support their growth and strengthen their competitive position. We’re grateful to the management teams and employees across our portfolio who work alongside us.” — Dipanjan “DJ” Deb, Co-Founder and CEO
TA Associates
TAis a leading global private equity firm focused on investing in growing companies with high-quality business models across its four target industries: technology, healthcare, financial services, and business services. Since its founding in 1968, the firm has raised $65 billion in capital and invested in more than 560 companies worldwide. As an active investor, TA is committed to building long-term partnerships with founders, entrepreneurs and management teams to help scale portfolio company growth and deliver lasting value. TA has over 160 investment professionals across its global offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. The firm’s dedicated Strategic Resource Group and Capital Markets Group provide further growth-orientated resources and support, including strategic counsel, operational guidance and assistance structuring and financing transactions.
“We are honored to receive this recognition from GrowthCap. Our approach has always centered on partnering with ambitious founders and management teams to help build stronger, more valuable businesses. Leveraging the experience of our global team and the breadth of our strategic resources, we remain focused on identifying high-quality companies and supporting their continued growth and success.” — Ajit Nedungadi, CEO and Co-Managing Partner
Thoma Bravo
Thoma Bravo is the world’s largest software-focused investment firm, with a 40+ year history and over $172 billion in assets under management as of March 31, 2026. Through its private equity and credit strategies, the firm invests in innovative companies operating in the software and technology sectors. The firm has acquired or invested in approximately 590 software and technology companies representing approximately $320 billion of aggregate value (including control and non-control investments, as well as add-on acquisitions). Its investment philosophy is centered around working collaboratively with existing management teams to help drive operating results and innovation. Leveraging its deep sector knowledge and strategic and operational expertise, the firm executes through a collaborative approach supported by a set of management principles, operating metrics, and business processes. Thoma Bravo supports its portfolio companies by seeking to invest in growth initiatives and strategic acquisitions designed to drive long-term value.
“We’re proud to be recognized as one of GrowthCap’s Top Private Equity Firms of the Year for the fifth year in a row. This award is a testament to the trust placed in us by the management teams and founders we’ve had the privilege of working with. We remain committed to building and maintaining the close relationships that drive outstanding outcomes.” — Holden Spaht, Managing Partner
General Atlantic
General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support to over 830 companies throughout its history. Established in 1980, General Atlantic remains a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment strategy spanning growth equity, infrastructure, and strategic solutions. General Atlantic manages approximately $126 billion in assets under management, inclusive of all strategies, as of March 31, 2026, with more than 900 professionals in 20 countries across five regions.
Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. The firm is committed to creating lasting impact for its investors, portfolio companies, and the communities in which it operates. As a private partnership, Bain Capital leads with conviction and a culture of collaboration, advantages that enable the firm to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Bain Capital’s global platform invests across five focus areas: private equity, growth & venture, capital solutions, credit & capital markets, and real assets. The firm has 24 offices on four continents, more than 2,000 employees, and approximately $225 billion in assets under management.
“At Bain Capital, partnership is at our core. Over our 40-plus-year history, we’ve had the privilege of building enduring relationships with innovative founders, entrepreneurs, and management teams around the world. By working collaboratively and drawing on deep, diverse expertise across our global network, we help unlock breakthrough insights that turn vision into transformational growth. With conviction, tenacity, and a shared focus on impact, we strive to catalyze potential and are proud to be a trusted partner in that journey.” — The Partners of Bain Capital
Summit Partners
Summit Partners is a leading growth-focused alternative investment firm. Since 1984, Summit has partnered with profitable, category-leading companies and leadership teams seeking to build best-in-class businesses. Summit brings deep industry expertise to each partnership, complemented by the operating support of its Peak Performance Group value enhancement platform. With over 75 investment professionals across its offices in North America and Europe, Summit Partners has invested in more than 550 companies in technology, healthcare, financial services, business services and other growth sectors.
“We are honored to be recognized again as a Top Private Equity Firm by GrowthCap. For more than four decades, it has been our privilege to partner with accomplished executives who are building category-leading, profitable companies. We’ve long believed that profitable growth is the most reliable path to building intrinsic value. Our investment strategy is built on this belief, and our global team seeks to serve our investors through the disciplined execution of this strategy, one we believe is both timeless and time-tested.” — Peter Chung, Managing Director and CEO
Insight Partners
Insight Partners is a global investor partnering with high-growth technology, software, AI and internet startup and ScaleUp companies that are driving transformative change in their industries. Insight is the most trusted partner in a company’s journey — from earliest institutional check to life as a public company and beyond, Insight meets great software leaders where they are and supports them with what they need to succeed.
As of December 31, 2025, the firm has over $90B in regulatory assets under management, with investments in more than 900 companies worldwide and 55+ portfolio companies achieving an IPO. Over 31 years, Insight has maintained a belief that great software companies can originate from anywhere and, with the right partner, expand rapidly into new markets. Central to this is Onsite, Insight’s growth engine with 110+ dedicated professionals delivering operational expertise and targeted solutions to help ScaleUps scale faster and more effectively.
“At Insight, we’ve spent more than 30 years developing the pattern recognition, operational depth, and global perspective needed to help management teams navigate pivotal moments in their growth. But recognition like this really belongs to the founders and operators we work alongside — we measure our success by theirs. As AI reshapes the landscape, we believe the most important chapter in software is still ahead.” — Deven Parekh, Managing Director
Hg is an investor in European and transatlantic technology and services businesses. The firm is an AI leader in private equity, helping to build sector-leading enterprises that supply critical applications or workflow services to deliver intelligent automation for its customers.
Hg takes an active approach to value creation, combining deep end-market knowledge with world-class operational resources to support entrepreneurial leaders looking to scale and drive AI transformation.
With a vast European network and strong presence across North America, Hg has over $110 billion in assets under management and more than 420 employees. The firm’s portfolio spans 60+ businesses worth over $195 billion in aggregate enterprise value, employing more than 140,000 people and consistently growing revenues at more than 16% annually.
“There’s real momentum across the firm. We raised $30 billion across our flagship funds, giving us the firepower to take advantage of the AI opportunity in front of us. For specialist investors like us, this is a rare moment and we intend to make the most of it. But the real proof of strategy is returning cash to our investors, and we’ve also seen a series of strong exits, such as GTreasury, Intelerad, and Quantios. In each of these cases, our focus on AI-led product innovation directly contributed to the outcome, which further vindicates the significant investment we’ve made in our AI value creation capabilities over the last decade.” — Steven Batchelor, Co-CEO and Managing Partner
“Hg Catalyst, our AI product incubator, is a great example of the operational support we can provide. Catalyst embeds small tiger teams of top-tier AI engineers and product leads directly inside portfolio companies to help them build and launch agentic products at much greater velocity. The feedback we get is always effusive. In total, we now have more than 1,600 AI projects live across the portfolio, well over 100 agentic products and features shipped, and a budgeted impact of around $260 million. The proof points are building, and the next year promises to be another big one.” — JB Brian, Co-CEO and Managing Partner
Patient Square Capital
Patient Square Capital is a dedicated health care investment firm with $19 billion in assets under management. The firm aims to achieve strong investment returns by partnering with growth-oriented companies and top-tier management teams whose products, services, and technologies improve health. Patient Square utilizes deep industry expertise, a broad network of relationships, and a partnership approach to make investments in companies grow and thrive. Patient Square invests in businesses that strive to improve patient lives, strengthen communities, and create a healthier world.
“Patient Square Capital is honored to be recognized by GrowthCap as a Top Private Equity Firm for the third consecutive year. Since Patient Square’s founding, our vision has been that investing in a market as large, complex, and impactful as health care demands both scale and specialization. Our name is derived both from our patient approach to investing, signifying the years of hard work that lead to successful investments, and the centricity of patients to everything we do. Patient Square’s deep industry expertise, proprietary in-house capabilities, and differentiated network of trusted relationships enable us to partner with companies that are expected to drive greater innovation and efficiency in health care.” — Jim Momtazee, Managing Partner
Accel-KKR
Accel-KKR is a technology-focused investment firm with $23 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses well-positioned for both top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and building value alongside management by leveraging the significant resources available through the Accel-KKR network. The firm focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs, and going-private transactions. The firm is headquartered in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City.
“At Accel-KKR, we believe that great software companies aren’t born—they’re built through relentless focus, partnership, and execution. For more than 25 years, we’ve dedicated ourselves exclusively to software investing, helping founders and management teams advance their journey from promising innovators to enduring market leaders. Our track record of success is rooted in a deep understanding of the software ecosystem and a hands-on approach that empowers companies to scale with purpose. We’re honored to support visionary teams as they scale toward greatness.” — Accel-KKR
THL Partners
THL Partners is a premier private equity firm investing in middle-market growth companies exclusively within healthcare, financial technology & services, and technology & business solutions. THL couples deep sector expertise with dedicated operating resources to build great companies of lasting value in partnership with management teams. The firm’s team has managed or deployed $50 billion of equity capital, worked with over 180 partner companies around the world and fueled more than 700 add-on acquisitions representing an aggregate enterprise value of over $270 billion. The firm recently raised its tenth flagship fund with $6.35 billion in investable capital.
“We are honored to be recognized by GrowthCap and proud to partner with exceptional middle-market companies. It is a privilege to work alongside their talented management teams and help them accelerate growth, strengthen their market positions, and build lasting value.” — Todd Abbrecht and Scott Sperling, Co-CEOs
Founded in 1978, CD&R is a leading private investment firm with a strategy of generating strong investment returns by building more robust and sustainable businesses through the combination of skilled investment experience and deep operating capabilities. In partnership with the management teams of its portfolio companies, CD&R takes a long-term view of value creation and emphasizes positive stewardship and impact. The firm invests in businesses that span a broad range of industries, including industrial, healthcare, consumer, technology, and financial services end markets. CD&R is privately owned by its partners and has offices in New York and London.
“At CD&R, we believe the surest path to strong returns is to build stronger businesses. Our operating and investment teams work as one to make those companies better, more durable, and fit for the future. The discipline of this approach is how we deliver lasting value across cycles. We are pleased to be recognized again by GrowthCap and we credit the management teams we back and the many colleagues across our portfolio who make it possible.” — Nate Sleeper, CEO
Adams Street Partners
Adams Street Partners is a global investment firm managing a comprehensive suite of private markets investment solutions. The firm provides private equity and private credit strategies to institutional investors, growth capital to innovative companies, and evergreen funds that offer access to multiple strategies through a single, investor-friendly commitment. The firm also supports wealth advisors with private markets solutions structured to be more flexible and accessible than traditional closed-end funds. With over 50 years of experience, Adams Street leverages deep market insights, global relationships, and proprietary data as it seeks to help investors achieve long-term investment goals. The firm is 100% employee-owned, manages $73 billion in assets, and operates out of 15 offices globally.
“We are honored to be recognized by GrowthCap as a Top Private Equity Firm for the second year in a row. Private equity has high levels of dispersion in manager returns. Superior returns are generated by accessing companies that compound revenue growth at high rates over an extended period by delivering superior ROI to their customers. For 54 years, we have strived to provide investors with this exposure. This recognition belongs to our global team, our investors who place their confidence in us, and the terrific leaders of private companies and funds who work tirelessly to build superior businesses and returns.” — Jeff Diehl, Managing Partner & Head of Investments
Vista Equity Partners
Vista is a preeminent investor in enterprise software and AI, with more than $100 billion in assets under management. For more than 25 years and across multiple technology cycles, Vista has pioneered a systematic approach to software investing that has delivered consistent, compelling results at scale, while establishing one of the deepest teams of investors, operators, and experts in the industry. Vista’s platform spans private equity and credit strategies, and its ecosystem includes 85+ portfolio companies, 2.5 million enterprise customers, and 450 million users around the world.
Today, Vista is applying that expertise to enterprise software’s next evolution, as software moves from a tool people use to one that acts on a customer’s behalf. Vista works alongside the founders and management teams building that future, putting engineers, operators, and AI experts to work inside their businesses to help them transform their platforms and deliver more value to the customers they serve.
“We believe software is entering its most significant evolution yet, and the opportunity for the companies that lead it is enormous. Vista partners with the teams that are building that future. We put engineers, operators and AI experts to work inside their businesses, helping them transform their platforms and deliver more value to the customers they serve. We have guided software companies through every major transition of the last 25 years, and believe none has carried a bigger opportunity than this one. We are honored to be recognized again among GrowthCap’s Top Private Equity Firms.” — Robert F. Smith, Founder, Chairman, and CEO
Providence Equity Partners
Providence Equity Partners is a leading middle-market private equity firm with deep sector expertise in media, communications, and education, focused on North America and Europe. Providence looks to invest in businesses that are benefiting from the long-term growth trends around experiences, learning, and connectivity by partnering with exceptional management teams to build enduring, scaled companies. Founded in 1989 in Providence, Rhode Island, the firm has invested over $40 billion across more than 180 portfolio companies with a transatlantic investment team based primarily in London, New York, and Boston. Through disciplined portfolio construction, prudent risk management, and a collaborative culture, the firm seeks to deliver strong results across market cycles.
“We are honored to be recognized by GrowthCap as a Top Private Equity Firm. We believe our success has always been rooted in deep sector specialization and a commitment to partnership. By focusing on industries where we have decades of experience, we believe we are well-positioned to help management teams drive innovation, navigate complexity, and create long-term value. As technology and digital transformation continue to reshape markets globally, we remain committed to supporting businesses that are defining the future of their industries.” — The Senior Managing Directors of Providence Equity Partners
Gryphon Investors
Gryphon Investors is a leading middle-market private investment firm focused on growing competitively-advantaged companies in the business services, consumer, healthcare, industrial growth, and technology solutions & services sectors. With more than $10 billion of assets under management, Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital Funds. Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and management teams and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group led by full-time senior operating executives and functional experts in artificial intelligence, capital markets, finance & accounting, human capital and information technology.
“At Gryphon, our goal has always been to identify compelling middle-market businesses and help them reach their full potential through deep sector knowledge, active partnership and hands-on operational support. Being named to GrowthCap’s Top Private Equity Firms list reinforces the value of that approach and the results our teams are working to deliver across our portfolio. I am especially proud of the collaboration between our investment professionals, operating executives and management teams, which is central to how Gryphon creates lasting value.” — David Andrews, Founder and Co-CEO
Charlesbank Capital Partners
Founded in 1998, Charlesbank Capital Partners is an established private investment firm with more than $21.5 billion of assets under management as of March 31, 2026. Based in Boston and New York, the team has a long history of working together, a deep specialization in the middle-market and experience investing over multiple business cycles. Known for its consistent, disciplined approach dating back to the firm’s Harvard endowment heritage, Charlesbank focuses on several core sectors where it has extensive industry expertise: business and consumer services, healthcare, industrials, and technology and technology infrastructure.
Drawing on decades of pattern recognition and a data-driven thematic approach, Charlesbank seeks out attractive opportunities across its complementary private equity and credit strategies, which collaborate closely. This rigorous, analytical approach to investing is deeply embedded in the firm’s DNA, as Charlesbank has been actively investing for over 28 years and continually draws on its insights and experience to generate informed perspectives around investable industry trends. With its robust industry knowledge and operational resources, the firm helps proven management teams accelerate growth, with a particular focus on founder-led companies, corporate carve-outs, transformational opportunities and M&A platforms.
“We’re honored to again be recognized among GrowthCap’s Top Private Equity Firms. This distinction reflects the strength of our partnerships with management teams, the trust of our limited partners and our shared commitment to building enduring, high-quality businesses. It’s also a testament to our team’s rigorous, disciplined and collaborative culture.” — Brandon White, Managing Partner
The Vistria Group
The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and societal impact. It invests in essential industries like healthcare, knowledge & learning solutions, financial services and housing that deliver value for investors as well as communities, employees, and consumers. With $17 billion in assets under management, The Vistria Group looks deeper by working as a true partner, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth.
“Vistria was built around the belief that the best investment opportunities emerge from deep sector expertise and alignment with management teams. We are honored to be recognized by GrowthCap as one of the top private equity firms, an honor that reflects the differentiated approach we have built over the past decade. This recognition also reflects the talent and dedication of our colleagues, operating partners, advisors, management teams, and portfolio company leaders who bring that approach to life every day.” — Philip Alphonse and David Schuppan, Senior Partners and Co-Presidents of Vistria’s Flagship Funds
American Securities
Founded in 1994, American Securities is a leading U.S. private equity firm that invests in North American companies, primarily in the industrial and B2B services sectors. With $23 billion under management, American Securities partners with businesses generating $200 million to $2 billion in annual revenues. The firm combines deep sector expertise, differentiated insights and proven internal capabilities to serve as transformational partners that drive growth and build enduring value. American Securities’ investment philosophy emphasizes capital preservation through disciplined investing and hands-on engagement, paired with repeatable value creation processes and operational excellence. American Securities is based in New York with an office in Shanghai.
“We are honored to be recognized by GrowthCap as a Top Private Equity Firm for the fourth consecutive year. This acknowledgment reflects over 30 years of American Securities’ renewed commitment to building trusted, collaborative partnerships with management teams and helping companies realize their full potential. As we look ahead, we remain focused on delivering meaningful value and are excited about the opportunities we see in the industrials and business services sectors.” — Scott Wolff, President and Partner
Trilantic North America
Trilantic North America is a growth-focused middle-market private equity firm specializing in control and significant minority investments in North American consumer and business services companies. Since 2004, the firm has been investing in founder-, family-, and entrepreneur-led companies, committing $8 billion in capital in the middle- and upper-middle-markets.
The firm has raised $11.6 billion across 7 private equity fund families and completed more than 80 investments over the past 22 years.
Trilantic North America aims to be a value-added partner to its portfolio company management teams. By working collaboratively with senior management to enhance boards of directors or add new C-level positions, Trilantic North America provides the right resources at the right time to help its companies scale their operations. The firm also leverages its extensive network of advisors and operating executives to provide management teams with practical insights, industry expertise, and peer perspectives.
“We’re proud to once again be recognized as one of GrowthCap’s Top Private Equity Firms. This recognition reflects our disciplined investment approach, the strong partnerships we’ve built with our investors and portfolio companies, and our team’s commitment to creating long-term value in an evolving market.” — Danny James, CEO and Partner
Audax Private Equity
Headquartered in Boston, with offices in San Francisco, New York, London and Hong Kong, Audax Private Equity is a leading private equity platform focused on investing across the North American middle-market. The firm’s objective is to accelerate value creation through its Buy & Build strategy and the Audax Value Agenda™, a holistic framework that seeks to create, enable, and protect value across every stage of the investment lifecycle. As of July 2026, Audax Private Equity had approximately $20.1 billion of assets under management and, since inception in 1999, has invested in more than 180 platforms and more than 1,500 add-on acquisitions.
“Every day, we aspire to build better companies. We do this through our longstanding and intent focus on the middle-market; deep investments in our team and resources to fuel our Buy & Build strategy; and the disciplined execution of the Audax Value Agenda™ to try to create, enable and protect value in a systematic and repeatable way. Underpinning all of this is our sense of partnership with our investors, deal sources, management teams, and other key stakeholders, each built on trust, collaboration, and consistency over the past 25-plus years.” — Young Lee, Partner and Co-President
Lee Equity Partners
Lee Equity Partners is a middle-market private equity firm that partners with entrepreneurs, founders and management teams primarily in the financial and healthcare services sectors. Over nearly two decades the firm has utilized its thematic-based investment strategy and deep sector expertise to identify and partner with talented management teams to accelerate growth and build market-leading businesses.
The team’s combination of investing and strategic advisory expertise offers a differentiated approach to control investing in middle-market private equity: (i) growth investing heritage gained through decades of growth investing experience, (ii) deep sector expertise and operating experience and (iii) strategy consulting capability to support significant in-house strategic due diligence and post-closing value creation.
“Lee Equity Partners is honored to be recognized by GrowthCap as a Top Private Equity Firm of 2026. We believe the strongest partnerships are built on a shared vision, deep sector expertise, and close collaboration with management teams. Across financial services and healthcare services, we work with exceptional leaders to help businesses scale with purpose, strengthen their competitive position, and create market leaders. This recognition reflects the dedication of our team and the trust our management teams and partners place in us.” — Mark Gormley, Partner
Alpine Investors
Alpine Investors is a people-driven private equity firm that has committed to building enduring companies by working with and developing exceptional people for 25 years. The firm has over $18.5 billion in assets under management, has completed more than 1000 investments throughout its lifetime, and has nine flagship funds. Alpine specializes in investments in companies within the software and services industries and is transforming private equity with its PeopleFirst philosophy and strategy. Through its talent initiatives, Alpine hires and supports exceptional leadership when additional or new management is needed. Alpine has multiple executive talent programs, including the flagship CEO-in-Training (“CIT”) program that hires MBA graduates directly out of business school. By hiring for attributes over experience and providing the right tools for these leaders to grow and develop, Alpine fosters incredible talent. The firm has also developed a proprietary strategy to identify and work with high-potential companies, integrating a framework that aims to accelerate growth and drive long-term scalability. By weaving PeopleFirst principles through every decision and launching the philosophy within its portfolio companies, Alpine protects founder culture, amplifies growth, and proves that putting humans at the center is still the smartest investment of all.
“Being recognized by GrowthCap as one of the Top Private Equity Firms of 2026 is a meaningful honor and a reflection of our team’s unwavering commitment to our mission. We are proud to share this recognition with the portfolio company leaders, investors and employees who have helped build Alpine into what it is today. As we look ahead, we remain committed to building exceptional companies and using our platform as a force for good.” — Graham Weaver, Founder and CEO
Valor Equity Partners
Valor Equity Partners seeks to serve exceptional founders, entrepreneurs, and portfolio companies making the world a better place. The firm focuses on equity investments in companies that align with its operational growth investment strategy and return objectives. In evaluating potential companies, Valor seeks to identify and select high-growth, pro-entropic companies where the transition to a technology-enabled economy is an important growth driver. Valor defines a “pro-entropic” company as a business demonstrating the ability to perform and grow across economic and market cycles, unexpected developments, and uncertainty. As part of its investment strategy, Valor seeks to build value from tangible operating improvements, not financial engineering, which it believes allows it to construct portfolios with attractive asymmetric risk profiles. Founders and management teams often choose Valor for its proven track record in adding operational value and entrepreneurial experience. This operational experience is a core element of the firm’s culture, in which portfolio companies are viewed as its “customers,” which Valor serves as it seeks to achieve compelling returns for its limited partners.
Motive Partners
Motive Partners is a private investment firm exclusively focused on financial technology and technology-enabled business services companies, ranging from early-stage ventures to growth equity and buyout, primarily based in North America and Europe. The firm invests across five primary subsectors: banking & payments; capital markets; AI, data & analytics; insurance; and wealth and asset management; and Motive Partners portfolio companies benefit from the firm’s fully integrated, proven Investor, Operator, Innovator (“IOI”) model, which brings together world-class fintech leaders and capabilities with deep industry knowledge, insight and experience. With offices in New York City, London, and Berlin, Motive Partners delivers differentiated expertise, connectivity, and capabilities to create long-term value in financial technology companies.
“We are honored to be recognized by GrowthCap as one of the Top Private Equity Firms. This recognition is a testament to the dedication of our team and the strength of our Investor–Operator–Innovator model, which brings together deep sector expertise, operational capabilities and an extensive fintech ecosystem. We are grateful to the founders, management teams and investors who place their trust in Motive as we work together to build the next generation of enduring financial technology businesses.” — Rob Heyvaert, Founder and Managing Partner
FFL Partners
FFL Partners is a leading middle-market private equity firm that has been investing in high-quality companies since 1997. Based in San Francisco, FFL is a hyperspecialized, thematic investor focused on targeted areas where the firm has deep expertise and broad networks. FFL employs a proprietary sourcing and value creation strategy called the Sector Exploration and Expertise Development (“SEED”) process. The firm aims to partner with exceptional management teams and employs a high-engagement approach to accelerate growth at its businesses. FFL currently has $7 billion of cumulative capital commitments.
“We are honored to be named one of GrowthCap’s Top Private Equity Firms, in recognition of our talented team and partnership-first strategy. At FFL, our strategy is about specialization and hands-on value creation, and we constantly strive for marginal gains. We call this getting ‘1% better’ in everything we do, every day. We do this in partnership with our management teams, colleagues, and investors. Shared wins are the best wins!” — Chris Harris and Cas Schneller, Managing Partners
Turn/River Capital
Turn/River Capital is a middle-market private equity firm that applies a proprietary growth engineering strategy to investing, partnering with software businesses to accelerate growth and build enduring value. The firm’s team of equal parts investors and operators provides hands-on operational support and the flexible capital to systematically scale product, marketing, sales and customer success at its portfolio companies. Founded in 2012 and based in San Francisco, Turn/River invests globally with a focus on North America and Europe.
“The next generation of software leaders will be defined by how quickly and effectively they transition from recurring revenue to AI-driven revenue. That shift requires systematic changes to both product and go-to-market. Turn/River was purpose-built to drive business transformations in software companies, and we’re excited to help lead transformation in the AI era.” — Matt Amico, Partner and Co-Head of Investments
AE Industrial Partners
AE Industrial Partners is a private investment firm with approximately $9.4 billion of assets under management as of June 30, 2026, focused on investing in technologies and services considered critical to national & economic security. Since 2015, AE Industrial has completed more than 155 investments in market-leading companies that benefit from its deep industry knowledge, operating experience and network of relationships across the sectors where the firm invests (national security, aerospace and industrial services). With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial invests across private equity, venture capital and aerospace leasing. AE Industrial is headquartered in Boca Raton, FL and has an office in Washington, D.C.
“We are honored to be named by GrowthCap as a Top Private Equity Firm for the third consecutive year. This recognition is a testament to our team’s dedication and expertise in working alongside the next generation of middle-market companies that are strengthening our national and economic security. We look forward to continuing to build on these partnerships and supporting the long-term growth and success of our portfolio.” — Michael Greene and David Rowe, Co-CEOs and Managing Partners
PSG Equity
PSG partners with software and technology-enabled services companies to help them navigate transformational growth and capitalize on strategic opportunities.
Founded in 2014 by Mark Hastings and Peter Wilde, PSG works closely with management teams to scale businesses through operational value creation, strategic M&A and product innovation. PSG brings a collaborative approach to each partnership, drawing on its investment expertise and operations resources to support teams through critical stages of growth. To date, PSG has backed more than 170 portfolio companies and completed more than 550 add-on acquisitions.
“We’re honored to be named one of GrowthCap’s Top Private Equity Firms. We’ve remained consistent in our strategy while continuing to evolve the resources and capabilities we bring to our portfolio companies as they grow and scale. We’re proud to see that approach recognized and grateful to everyone who has contributed to PSG’s continued growth.” — Mark Hastings and Peter Wilde, Co-Founders
Bregal Sagemount
Bregal Sagemount is a leading growth-focused private capital firm with $11 billion of cumulative capital raised. Currently investing out of a $3.7 billion Fund V, the firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount has invested in over 90 companies in a variety of sectors, including software, data & information services, financial technology & services, digital infrastructure, healthcare IT, and business & consumer services. The firm has offices in New York and Palo Alto.
“At Sagemount, we collaborate with founders and entrepreneurs to help accelerate growth and create value. We take a custom approach to every investment, combining flexible capital and value-creation solutions to address the unique needs of successful entrepreneurs. We believe our partnership helps deliver outsized outcomes for our companies.” — Gene Yoon, Managing Partner and Founder
Lead Edge Capital
Lead Edge Capital is a $9 billion growth equity firm backing software, internet, and tech-enabled businesses around the world. Since 2011, the firm has partnered with over 100 companies, including Alibaba Group, Asana, Duo Security, Grafana Labs, Live View Technologies (“LVT”), Toast, and Wise, and has seen more than 60 successful exits. Lead Edge looks for companies where its network of investors can make a meaningful difference, and where speed, access, and execution matter. The firm is powered by a global investor network of more than 700 operators, executives, and entrepreneurs who do more than commit capital. They help connect its portfolio companies with the customers, talent, and advisors needed to accelerate growth. Lead Edge has offices in New York, London, and Santa Barbara.
“Capital alone doesn’t build great companies anymore. What moves the needle is a network of people who actually pick up the phone for you. That’s what we’ve built over the last two decades, 700+ LPs who open doors, make introductions, and show up for our portfolio companies when it really matters. Right now these types of connections matter more than they ever have and our portfolio companies see it in action every day.” — Mitchell Green, Founder and Managing Partner
JMI Equity
Founded in 1992, JMI Equity has focused on investing in exceptional software and AI-driven companies from scaling stages through later growth. For more than three decades, JMI has partnered with founder-owners and management teams across market cycles to accelerate growth and build their companies into industry leaders. With offices in San Diego, Washington, D.C., and Baltimore, JMI has invested in nearly 200 businesses in its target markets. As of December 2025, the firm’s portfolio represents over $11 billion in combined revenue, $90 billion in aggregate enterprise value, and 40,000 jobs.
“We’re proud to be recognized as a Top Private Equity Firm. For 35 years, JMI Equity has stayed true to a single focus: partnering with exceptional growth-stage software and AI-driven companies and supporting them as they scale. Looking ahead, JMI remains dedicated to bringing deep, sector-specific expertise to each investment we make, helping the next wave of technology companies on their journey to becoming industry leaders.” — Peter Arrowsmith, Managing Partner
Serent Capital
Serent Capital is a private equity firm that invests in founder-led software and technology-enabled services companies. Founded in 2008, the firm combines deep sector specialization with a dedicated Growth Team that helps portfolio companies scale go-to-market engines, develop and recruit world-class executive teams, and deliver AI and product innovation.
Serent manages more than $7 billion in assets and has invested in more than 100 companies across software and technology-enabled services markets.
“This recognition comes at an important moment as AI creates new possibilities for software and technology-enabled services companies. We remain committed to investing in the people and the capabilities that help Founders evaluate those opportunities thoughtfully, execute with confidence, and build category-leading businesses.” — Stewart Lynn, Partner
Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with over $5 billion in capital under management. Silversmith seeks to partner with founders and entrepreneurs building enduring technology and healthcare businesses. The firm brings deep domain expertise, strategic perspective, and a long-term partnership approach to help management teams accelerate growth. The firm has served as the first institutional partner to some of the most dynamic and successful companies in its core verticals, including Appfire, Apryse, DistroKid, Iodine Software, and LifeStance Health.
“Silversmith being named a Top Private Equity Firm is an honor that ultimately belongs to the founders, entrepreneurs, and management teams we partner with. They’re the ones doing the hard work of building enduring technology and healthcare companies. Our aim is simple: to be the partner we’d want if we were in their seat, supporting them with consistency, candor, and humility at every stage of growth.”—Jim Quagliaroli, Co-Founder and Managing Partner
Level Equity
Level Equity is a middle-market private investment firm focused on providing growth capital to rapidly growing software and technology-enabled businesses. Level invests thematically, with broad flexibility to pursue a variety of transaction types and structures — from control buyouts to minority growth and credit investments – and utilizes its full stack value team of operating experts, NextLevel Operations, to help its companies enhance and sustain growth, innovation and efficiency. Level Equity currently manages over $6.4 billion, has made over 125 investments since its inception, and has offices in New York, NY, and Greenwich, CT.
“We are excited and flattered to have been selected as one of GrowthCap’s Top Private Equity Firms again this year. There has never been a more exciting or dynamic time to be software investors with the immense opportunities and risks presented by advances in artificial intelligence. We are–as we have been since inception–laser-focused on finding and being great partners to the best software companies and their founders and managers, helping them get bigger, stronger and faster as they seek to dominate their end markets.” — Ben Levin Co-Founder and CEO
Mainsail Partners
Mainsail Partners is a growth equity firm that invests in bootstrapped B2B software companies to help them grow into market leaders. The firm’s team is purpose-built to include experienced investors and software operators who help founders build great teams, develop industry-leading products, design data-driven and scalable infrastructure, harness the power of AI to drive productivity and innovation, and grow market share. Mainsail’s hands-on support and best practices are delivered through a collaborative approach that respects founder-led cultures and helps build on each company’s commitment to its people and customers. With offices in Austin and San Francisco, Mainsail Partners has raised nearly $4 billion in committed capital and partnered with 100+ companies over the last 23 years.
“For 23 years, we have been trusted by bootstrapped software founders to help them build category-leading companies while preserving the same discipline and customer obsession that fueled their success from day one. As we continue to invest in resources like AI Labs and our Growth Team, we believe companies that lean into the advantages of vertical market software through proprietary data, mission-critical workflows, deep customer relationships, and AI-driven innovation will build durable enterprises. We are grateful for the opportunity to partner with the founders and teams we work alongside, and we’re honored to be recognized by GrowthCap as a Top Private Equity Firm again this year.” — Gavin Turner, Managing Partner
K1 Investment Management
K1 Investment Management is one of the largest investors in small-cap AI-enabled technology. Headquartered in Manhattan Beach, California, the firm partners early with founders and management teams to build AI-powered, mission-critical systems of record for enterprise clients globally. Through its affiliate, K1 Operations LLC, the firm supports portfolio companies in accelerating growth – both organically and inorganically – by focusing on leadership development, technological innovation, and operational excellence. Dedicated to transforming lives and industries by building category leaders in technology, K1 has invested in over 275 companies since inception.
Pamlico Capital
Founded in 1988, Charlotte-based Pamlico Capital seeks growth and buyout investments of up to $200 million alongside founders and proven leaders across its five target sectors: business services, communications, healthcare, information services, and software. The firm closed its most recent fund in 2025 at the hard cap of $1.75 billion and has over $5.0 billion in assets under management.
Over the past 35+ years, Pamlico has built a reputation as a founder-friendly, long-term-focused investor that prioritizes partnership with its management teams. The firm takes a comprehensive and collaborative approach with each of its portfolio companies, assisting with initiatives such as strategic planning, portfolio best practice sharing, go-to-market strategy, human capital, and M&A advisory. Pamlico’s culture is rooted in a people-first mentality, which has contributed to its longstanding team and an average partner tenure of nearly 20 years.
“Being named to GrowthCap’s Top Private Equity Firms list again is an honor we don’t take for granted. Our job is to be a great partner when it matters most, to be honest, engaged, and to bring the right resources at the right time. Any success we’ve had traces back to the caliber of people we build with. We’re thankful for this recognition, and even more thankful to the executives who’ve trusted us with their next chapter.” — Art Roselle, Partner
Five Elms Capital
Five Elms Capital is a growth investor in software businesses that users love, providing capital and resources to help companies accelerate growth and further cement their role as industry leaders. With over $3 billion in assets under management and a team of over 80 professionals, Five Elms has invested in more than 70 software platforms worldwide. Beyond providing capital, Five Elms delivers strategic and operational expertise, focused on executing initiatives that move the needle on growth, retention, product, and AI to set companies up for long-term success.
“At Five Elms, we partner with founders building businesses with multi-decade durability. A big part of our support comes from our team 20+ operators focused on AI & Value Creation, purpose-built to accelerate AI deployment in both product roadmaps and internal operations, improve retention, strengthen sales execution, and drive continued growth. We’re grateful to GrowthCap for this recognition.” — Fred Coulson, Founder and Managing Partner
Bregal Milestone
Bregal Milestone is a leading software private equity firm with approximately €2.3 billion of capital raised since inception. The firm provides growth capital and operational support to build market-leading companies in B2B software, AI and cybersecurity. Bregal Milestone is part of Bregal Investments, a leading global investment platform with assets under management of over €24 billion.
“We are proud to be one of GrowthCap’s global Top Private Equity Firms of the year. Being recognized now in the fourth consecutive year reflects the dedication and excellence of our team. Since our founding in 2018, Bregal Milestone has partnered with an exceptional group of European entrepreneurs in the areas of software, AI and cybersecurity and we are committed to supporting them both strategically and operationally to achieve lasting success together.” — Jan Bruennler, Managing Partner and Co-Founder
Long Ridge Equity Partners
Founded in 2007, Long Ridge Equity Partners is a specialized growth equity firm focused on financial technology, business technology, and innovative services companies. Leveraging deep sector knowledge and an extensive network of industry resources, the firm serves as a value-added partner to high-growth businesses. Since its founding, Long Ridge has sponsored some of the most successful growth companies in the financial technology, business technology, and innovative services sectors, providing leading management teams with partnership, strategic resources, and capital to drive profitable expansion. The firm manages $1.7 billion of committed capital as of March 2026.
“Long Ridge is honored to have been selected by GrowthCap as a Top Private Equity Firm. This recognition is a testament to the exceptional founders and management teams who choose to partner with us in executing their vision. Long Ridge understands the unique challenges and opportunities that emerging leaders face in scaling their businesses, and takes an active, board-level approach to facilitate growth, profitability, and professionalization. We look forward to the continued privilege of supporting world-class companies as they grow and scale.” — Jim Brown, Founder and Managing Partner, and Kevin Bhatt, Managing Partner
Strattam Capital
Strattam Capital is a private equity firm with over $1 billion in assets under management, investing in founder-led, B2B software and technology companies that are poised to become AI-powered vertical market leaders.
Strattam’s values of transparency, continuous improvement, and carrying forward the ownership mindset of founders led to the firm’s creation of “The Five Point Plan,” an investment process that emphasizes aligning with founders before signing. Strattam supports portfolio company leaders in building their teams, extending their reach, and adapting new technologies—today, AI—to solve the customer problems they understand so well.
Founded in 2014, Strattam is based in Austin and San Francisco. Since inception, the firm has completed more than 50 partnerships with founder-led businesses.
“We’re honored to be recognized once again on GrowthCap’s Top Private Equity Firms list. This recognition reflects our team’s commitment to partnering with exceptional founders through a transparent, aligned approach—agreeing on a Five Point Plan before signing and working together to build lasting value. As AI continues to reshape B2B software, we believe the greatest opportunities lie with entrepreneurs who are embedding AI into customer workflows to solve real-world problems and deliver measurable outcomes. We’re grateful for the trust our founders place in us and excited to continue investing alongside them.” — Bob Morse, Co-Founder and Managing Partner
Washington Harbour Partners
Washington Harbour Partners (“WHP”) is a mission-first investment firm managing more than $5 billion in assets. The firm invests private capital in technologies, platforms, and industrial capabilities critical to America’s competitiveness and national security, with a focus spanning artificial intelligence, cybersecurity, advanced manufacturing, enterprise software, space, and other strategic priorities.
WHP’s private equity strategy is focused on building and scaling platforms that support mission-critical sectors such as government technology, defense, cybersecurity, and space. Its portfolio includes six active platforms, formed through the combination of 11 strategic acquisitions. The firm combines private equity investing with deep experience across government and the defense ecosystem, helping portfolio companies pursue expanded opportunities across federal markets and allowing WHP to serve as a long-term strategic partner to its portfolio.
WHP also has a stage-agnostic venture strategy backing emerging and established technology companies. This broader investing platform gives WHP visibility to commercial innovation while creating opportunities to connect new capabilities with its private equity portfolio and government customers. In 2026, the Silicon Valley Defense Group’s NatSec100 ranked WHP sixth among defense technology investors and the highest-ranked non-government-affiliated firm that also makes private equity investments, with investments in 16 companies named to the list.
“We’re honored to be recognized by GrowthCap among the Top Private Equity Firms in the country. This recognition reflects Washington Harbour Partners’ commitment to supporting innovative defense and technology companies and leveraging our deep understanding of government missions to help build the capabilities our country needs most.” — Mina Faltas, Founder and CEO, Washington Harbour Partners
HealthQuest Capital
HealthQuest Capital is a private equity firm that provides capital to transformative healthcare companies. HealthQuest Capital focuses on commercial prospects that drive enhanced patient outcomes and elevate the efficiency of healthcare delivery. With approximately $2 billion in capital under management, the firm focuses on fostering innovation across the healthcare spectrum, including medical technologies, diagnostics and tools, digital health, and innovative services. The HealthQuest Capital team combines decades of investing experience with domain expertise in the various aspects of the healthcare industry.
“We’re very proud to have HealthQuest recognized as a Top Private Equity Firm for 2026. What we’ve built is the result of a tremendous team that brings deep healthcare experience, different perspectives, and a shared drive to help our companies succeed. Just as importantly, we’ve been fortunate to work with outstanding founders and management teams across our portfolio who are tackling some of healthcare’s most important challenges. We’re grateful to be part of their journeys and excited to keep building on what we’ve accomplished together.” — Garheng Kong, Managing Partner
Guidepost Growth Equity
Guidepost is a leading growth equity firm based in Boston that manages approximately $2.1 billion of capital commitments across four funds. Guidepost partners with entrepreneur-led technology businesses, focusing on application software and data services, as well as infrastructure software and tech-enabled services. Guidepost invests between $20 and $80 million of equity as a minority or majority partner and provides the flexible capital, operational support, and strategic guidance necessary to enhance the continued growth of its companies.
Guidepost’s investment team includes professionals with deep software and tech-enabled services sector expertise led by general partners who have been working together for over a decade. The investment team is supported by Guidepost’s operating group and highly integrated Value Creation Group (“VCG”), which works directly with entrepreneurs to maximize Guidepost’s years of industry and functional experience, deep advisor network, and strategic resources to accelerate growth while building for additional scale. The VCG is focused on five critical areas for growth-stage companies: product & technology, strategic HR, sales & marketing, generative AI, and strategy & operational finance. Guidepost has developed best practices, maturity models, and an operating advisor network available to its investment partnerships across these functional areas. The firm is exclusively focused on partnering with entrepreneur-led companies utilizing technology to transform dynamic markets. As a trusted partner to its companies, Guidepost works closely with these entrepreneurs to build strong independent boards of directors, augment management teams for scalable functional capabilities, evaluate strategic options, and provide critical operational and financial support.
“Guidepost partners with capital-efficient, entrepreneur-led enterprise software and tech-enabled businesses growing organically and profitably with $10–$50 million of revenue. We develop trusted minority or slight majority partnerships from our thematic, partner-led outreach to management and drive value creation from significant strategic, financial, and operational assistance. The functional expertise of our operating group and VCG is an accelerant at this stage of growth, where Guidepost’s relationships with executives in our core verticals provide crucial assistance across sales and marketing, product and engineering, GenAI, strategic HR, strategy, and operational finance to build to $100+ million of revenue scale.” — Gene Nogi, General Partner
BayPine
BayPine is a private equity firm purpose-built for the digital age. The firm partners with leading middle-market businesses in traditional sectors of the economy and helps transform them into digital-first enterprises through the thoughtful deployment of technology, including AI.
Founded in 2020 by seasoned investors and operators, BayPine is headquartered in Boston with an office in New York. The firm has completed seven platform investments since inception and manages approximately $5 billion in assets on behalf of institutions globally.
“We are proud to be recognized again by GrowthCap as a Top Private Equity Firm. BayPine was purpose-built, not retrofitted, to deliver digital reinvention to companies outside the technology sector. In today’s era of ‘ambient AI’ — where artificial intelligence is reshaping businesses across the economy – our integrated team of investors, operators, and technologists is well-positioned to help companies in traditional sectors seize the digital opportunities ahead and become the next generation of category leaders.” — Anjan Mukherjee, Managing Partner
Ampersand Capital Partners
Founded in 1988, Ampersand Capital Partners is a middle-market private equity firm dedicated to growth-oriented investments in the life sciences and healthcare sectors, with $4 billion in assets under management. The firm invests in companies that support the life sciences ecosystem, including laboratory products and services, contract manufacturing, pharma services, and specialty products. With offices in Boston, London and Amsterdam, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside portfolio company management teams. The firm specializes in the “picks and shovels” of healthcare, partnering with companies that provide mission-critical tools and services to life sciences innovators developing breakthrough medicines and medical devices. Ampersand’s core investment sectors are interrelated, and portfolio companies in one sector often interact with participants in adjacent sectors, providing differentiated insights and value-creation opportunities. Ampersand transcends a traditional investment role, leveraging its unique industry experience to collaborate closely with portfolio company founders and leadership teams on both a scientific and growth strategy level. This fully integrated approach has been the foundation of many success stories, working with founders to build companies into industry leaders.
“Being named a Top Private Equity Firm for the third year running reflects the work our teams and portfolio companies do together, not just this year but over decades. We remain committed to the strategy that’s guided Ampersand from the start: partnering closely with founders in sectors we know deeply.” — Herb Hooper, Managing Partner
Fengate Asset Management
Fengate Private Equity partners with founder-led, growth-oriented North American businesses in the lower-middle-market across the business services, consumer staples, and healthcare sectors. Backed by Fengate Asset Management—a leading alternative investment manager with more than $27 billion in assets under management and a 50+ year track record—the firm brings institutional-caliber resources not often accessible to companies in the lower lower-middle-market. Through flexible capital, operating support, and access to the broader Fengate platform, the team helps portfolio companies scale and build durable, long-term value.
“This recognition is a reflection of the founders who trust us with their businesses at a pivotal moment in their journey, and a team that shows up for them every day with a partnership-first mindset. Our goal has always been to bring institutional-quality resources and strategic support to the lower-middle-market and seeing that approach resonate is deeply rewarding. 2025 was a defining year for us—but we’re even more excited about what comes next.” — Jennifer Pereira, Head of Private Equity, Fengate Asset Management
Battery Ventures
Founded in 1983, Battery is an experienced, global, technology-focused investment firm with offices in the U.S., Europe, and Israel. The firm practices a collaborative, research-focused style of investing and makes early, growth-equity, and buyout investments. Its buyout practice has been active since the early 2000s. Battery is now investing its 15th family of funds, capitalized at $3.25 billion, and has raised more than $16 billion since inception. The firm’s core areas of focus are business software and AI, including health-tech, fin-tech, defense-tech and vertical AI software; infrastructure technology, including data/AI, developer tools and cybersecurity; and industrial technology/life-science tools. As of late 2025, Battery has invested in more than 530 companies globally, excluding seed-stage deals; its portfolio has staged 73 initial-public offerings and seen more than 225 M&A events. The investment staff works together as a single, global unit to evaluate and support potential investments. Additionally, portfolio companies work with a dedicated team of in-house experts to fuel growth in areas such as go-to-market, talent and recruiting, business development, finance and analytics, and marketing/communications.
“Supporting great leaders to build companies of lasting value has been Battery’s focus for more than 40 years. We help companies scale and grow both organically and through acquisitions, bringing the best of Battery’s venture heritage to help more-mature companies leverage new technologies and scale into global leaders. We provide deep domain expertise in the software, AI and industrial technology markets in North America and Europe. We like to think our experience speaks for itself, and we’re extremely honored when companies choose to partner with us.” — Jesse Feldman, Battery General Partner
Sverica Capital Management
Sverica Capital Management is a leading, growth-oriented private equity firm with committed capital of $2 billion across six funds. The firm acquires, invests in, and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a “business builder” approach to investing and takes an active, supporting role in its portfolio companies. The firm devotes significant internal time and resources to help management teams develop and execute growth strategies, proactively seeking levers to accelerate growth by reinvesting in those companies. Sverica is committed to building businesses collaboratively that can endure for the long term, starting with a strong foundation and bringing the right people and playbook to drive reinvestment and, ultimately, deliver strong returns for its investors.
“Earning this accolade for the fourth straight year is an honor. Our success is anchored in empowering exceptional entrepreneurs and driven by the dedicated execution of our portfolio company management teams. We are deeply grateful to our team members whose collaboration fuels our collective momentum as we build high-impact, enduring businesses that compete to lead their respective categories.” — Dave Finley, Jordan Richards, and Frank Young, Managing Partners
PeakSpan Capital
Founded in 2015, PeakSpan Capital is a leading growth equity firm investing exclusively in high-growth applied AI B2B software companies. With $2.6 billion in assets under management and a team of 18 investment professionals (30 total) across its San Mateo and New York City offices, PeakSpan has supported ~60 software businesses and has realized 21 full and partial exits to date. PeakSpan is committed to its mission of being the partner of choice for best-in-class, emerging growth-stage applied AI software entrepreneurs and teams looking to scale sensibly and capitalize on strategic, high-quality market opportunities. Through a highly focused, proprietary, data-driven strategy, PeakSpan partners with scale-up software entrepreneurs to deliver the best risk-adjusted outcomes. PeakSpan leverages its deep domain (spanning 12 BluePrint Market Themes) and stage expertise, proprietary and patented technology platform and consultative approach to drive strategic initiatives, and an on-demand network of over ~500 operating advisors through their PeakSpan Expert Community (“PEC”) program, which provides for superior operational support across key strategic initiatives such as go-to-market, product strategy, organizational model best practices, industry or practitioners perspectives, and more.
“We’re honored to be named again among GrowthCap’s Top Private Equity Firms, alongside peers we greatly admire. Eleven years ago, we founded PeakSpan on a simple bet: entrepreneurs deserve to feel like their success is inevitable, not aspirational. That bet holds because of the people making it happen: a team of leaders (most of whom grew up in this firm) with exceptional discipline executing our mission, who know their sectors better than any generalist or model ever could. It also holds because our founders continue to trust us with their life’s work, and our LPs to be stewards of their capital and drive the best risk-adjusted outcomes, which matters more than ever.” — Phil Dur, Co-Founder and Managing Partner
Updata Partners
Updata Partners is a leading growth equity firm based in Washington, DC, investing in high-growth B2B software businesses where the combination of capital and operating experience will accelerate success. The firm is led by seasoned operators averaging more than 25 years of software experience. Updata has partnered with more than 75 entrepreneurs to date, and has raised more than $3.0 billion in committed capital.
“Updata has a long history of partnering with exceptional founders of capital-efficient businesses to accelerate growth and build lasting value. Updata is a firm built and run by software executives, and we take great pride in rolling up our sleeves to drive maximum impact. We are honored to be recognized by GrowthCap as a Top Private Equity Firm.” — Jon Seeber, General Partner
Resurgens Technology Partners
Resurgens Technology Partners is a tech-focused private equity firm investing in North American and select European lower middle-market software businesses. Resurgens’ growing team offers a diversity of investing, operating and talent management experience and applies an active and engaged value creation approach with each portfolio company.
Founded in 2016, Resurgens has assembled a large, dedicated operating team relative to its fund size and portfolio. By partnering with Resurgens, founders gain access to practical resources across go-to-market execution, executive hiring and talent, and strategic M&A.
With more than $1.5 billion in assets under management, Resurgens has partnered with a growing roster of category-leading software companies, helping them scale efficiently while preserving the culture and vision that made them successful in the first place.
“We’re proud to be recognized by GrowthCap as one of the industry’s Top Private Equity Firms. It reflects the strength of our long-term partnerships with founders and management teams, built on a culture at Resurgens rooted in integrity, humility, and transparency. That foundation is what we believe allows us to help build enduring, market-leading businesses together.” — Fred Sturgis, Co-Founder and Managing Director
M-One Capital
M-One Capital, founded in 1986, is a private investment firm focused on being a value-added partner for management teams, founders and families. Specializing in supporting management teams who retain operating control and meaningful ownership, the firm provides equity capital, guidance and strategic resources to the entrepreneurs and companies in which it invests. At M-One Capital, the firm is a partner to management—not just an owner—dedicated to supporting growth and adding value.
M-One Capital is a partnership of experienced professionals. The team has substantial investment experience in numerous industries and situations. The firm’s relationships with partner companies are built on trust, respect and a shared vision for success. M-One Capital’s core private equity focus is to grow businesses in partnership with management teams, pursuing a variety of strategies for creating long-term value. The firm makes majority or minority equity investments of $30 million–$125 million.
“M-One Capital is honored to be recognized as one of GrowthCap’s Top Private Equity Firms. We’ve found that approaching our investments as partnerships with management not only improves results due to alignment and stronger relationships, but it adds purpose to our work. This recognition is a testament to our team, investment strategy and partnerships that we have built with management teams.” — Patrick Duffy, President and Managing Partner
RC Capital
RC Capital (“RCC”) is a lower-middle-market private equity firm focused on building high-potential healthcare platforms that advance the triple aim. With over 30 years of experience, RCC takes a differentiated approach by acting as a business partner first and a capital provider second. The firm invests significant human capital alongside financial resources, partnering closely with founders and management teams to build and scale businesses. Through this partnership, RCC leverages deep domain expertise, a curated network of healthcare thought leaders, and longstanding relationships with leading health systems to drive operational value creation.
“For the last three decades, RC Capital has been supporting visionary entrepreneurs, dedicated to improving patient outcomes, enhancing care delivery, lowering cost of care and increasing access to quality healthcare services. It’s personally fulfilling to work alongside talented and prolific partners at RCC who are committed to nurturing long-term relationships with a deep network of seasoned operators and who have demonstrated a ‘roll-up-your-sleeves’ approach to supporting management teams fulfill their vision. Seeing our partners’ objective come to fruition through the eyes of patients and providers is the most gratifying element of this endeavor.” — Rob Heimann, Managing Partner
NewSpring
For more than 25 years, NewSpring Capital has worked alongside founders and management teams in the lower-middle market, providing capital, operational support, and strategic guidance to help businesses scale. With over $3.5 billion in assets under management and more than 250 investments completed, the firm brings operational experience and investment expertise to build market-leading companies across sectors such as technology, healthcare, business services, consumer, and industrials. Through five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt, NewSpring tailors its approach to each company’s stage and goals, always with a focus on sustainable growth. As specialists in the lower-middle market, the firm supports growth that leads to more predictable outcomes. At NewSpring, the firm is as invested in your outcome as you are.
“NewSpring’s team is made up of operators, not just investors. We might help recruit the senior executives a business needs, build out go-to-market plans, sharpen pricing strategy, or design compensation structures that motivate. Whatever the goal, we partner with the CEOs we back because we’re as invested in the outcome as they are. None of that works without the trust of the people who let us in the door. We appreciate GrowthCap including us this year, and the leaders who’ve let us be part of the work.” — Mike DiPiano, NewSpring Managing General Partner
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