GrowthCap is pleased to announce The Top Growth Equity Firms of 2025. In a market that’s more competitive and complex than ever, we believe that growth equity is, at its core, defined by superior judgment. The best firms have the ability to make high-stakes decisions well: knowing when momentum is real versus hype, recognizing when a company is ready to scale, and helping founders, portfolio companies, and investors build something that lasts.
This year’s honorees are the firms that leading founders and CEOs seek out and trust as long-term partners. Beyond capital and financial performance, they possess the ability to consistently identify investment opportunities, create value across their portfolio companies, retain top talent, and optimize outcomes for all stakeholders involved.
Beginning with a field of several hundred, this year’s Top Growth Equity Firms distinguished themselves through a thorough evaluation of their unique attributes, including sector expertise, analytical rigor, operational capabilities, professional networks, leadership depth, organizational composition, and enduring firm reputation, among others. Insights were gathered through nomination materials, direct firm communications, online submissions, peer and CEO feedback, as well as our additional proprietary research.
We also want to thank and acknowledge the many firms considered this year whose work continues to shape and influence the growth equity landscape. Many of these firms will become the next generation of industry leaders, and we look forward to watching it unfold.
Please join us in recognizing and celebrating The Top Growth Equity Firms of 2025.
PSG is a growth equity firm that partners with software and technology-enabled services companies globally. Founded in 2014 by Mark Hastings and Peter Wilde, PSG brings deep investment and operational expertise, working closely with management teams to support value creation initiatives.
To date, PSG has backed over 160 portfolio companies and completed over 530 add-on acquisitions. In February 2025, PSG closed two milestone fundraises totaling $8 billion, underscoring the firm’s strong market reputation and disciplined investment strategy.
“We are honored to be recognized on GrowthCap’s list of Top Growth Equity Firms. This recognition reflects PSG’s consistent, disciplined approach grounded in partnering with software and technology-enabled businesses at critical stages of growth. We believe this consistency has been central to how we help management teams navigate complexity and scale effectively.” — Mark Hastings, Co-Founder and CEO, and Peter Wilde, Co-Founder and Chairman
Summit Partners is a leading growth-focused alternative investment firm. For over 40 years, Summit has partnered with profitable, category-leading companies and their leadership teams. Together, the firm seeks to build best-in-class businesses, leveraging its extensive sector knowledge and the operating insights of its Peak Performance Group value enhancement platform. With over 80 investment professionals across its offices in North America and Europe, Summit has invested in more than 550 companies in the technology, healthcare, financial services, business services, and consumer sectors.
General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 830 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning growth equity, credit, climate, and sustainable infrastructure strategies. General Atlantic manages approximately $123 billion in assets under management, inclusive of all strategies, as of December 31, 2025, with more than 900 professionals in 20 countries across five regions.
“We are proud to have partnered with and helped over 540 growth businesses since our founding in 1980. We believe the growth equity opportunity is stronger than ever driven by acceleration of innovation cycles, the globalization of entrepreneurship, and the rise of the digital economy.” — Martín Escobari, Co-President and Head of Global Growth Equity
Sixth Street Growth invests in mid- and late-stage growth companies, providing growth equity and bespoke capital solutions with the potential to scale alongside companies as they grow, with a focus on technology and B2B software. The Sixth Street Growth team partners with founders and management teams to provide differentiated capital solutions to accelerate organic and inorganic growth. Through its More than Capital platform, Sixth Street Growth provides specialized expertise and resources to help portfolio companies drive operational excellence. Sixth Street Growth is currently investing out of its second growth fund—a $4.4 billion vehicle targeting both late- and mid-stage investments.
As the dedicated growth investing platform of Sixth Street, a leading global investment firm with over $125 billion in assets under management and committed capital, Sixth Street Growth has invested over $10 billion in more than 70 companies. Select Sixth Street Growth investments include Airbnb, atVenu, AvidXchange, Bloomreach, Clio, Contentsquare, Datavant, Gainsight, Gravitee, Kiteworks, Keyfactor, Luma Financial Technologies, MasterControl, MDLIVE, Seeq, SEON, Spotify, Sprinklr, and SumUp.
“At Sixth Street Growth, we are focused on providing growth equity and bespoke, scalable solutions to mid- and late-stage growth companies, combining our deep sector expertise with an acceleration mindset to serve as true partners in growth. We’re incredibly proud of the companies we’ve partnered with and are grateful for their trust and collaboration as we work together to enable long-term growth and innovation.” – Michael McGinn and Bo Stanley, Partners and Co-Heads of Sixth Street Growth
Insight Partners is a global software investor partnering with high-growth technology, software, and internet startup and scale-up companies that are driving transformative change in their industries. As of June 30, 2025, the firm has over $90 billion in regulatory assets under management. Insight Partners has invested in more than 875 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has a global presence with leadership in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO.
“At Insight, we forge partnerships with visionary entrepreneurs across all stages and deal archetypes, arming executive teams with the advantages that come with our firm’s scale and track record. Providing hands-on support through strategic guidance, operational expertise, and a shared vision, we’re proud to work alongside our portfolio companies to drive transformative industry change at every stage of their growth journey.” — Thomas Krane, Managing Director
Spectrum Equity has a uniquely collaborative, hands-on approach to partnership – for more than three decades, founders and leadership teams have benefited from the firm’s collective experience, curated network of experts, and committed support. The firm has invested in 180+ companies across multiple sectors, focusing on category-leading software, data, and consumer internet businesses.
With offices in Boston, San Francisco, and London, the firm is currently investing its tenth fund. Representative investments include AllTrails, Ancestry, Definitive Healthcare, GoodRx, Lucid Software, Teachers Pay Teachers, Origami Risk, and Verafin.
“Great companies aren’t built by investors — they’re built by exceptional founders and teams. Our role is to support their vision, help to confront challenges, and stay committed through the pivotal moments that define a company’s journey. We’re grateful to be part of their story.” — Chris Mitchell, Managing Director
B Capital invests globally in extraordinary founders and businesses shaping the future through technology. With more than $9 billion in assets under management and dedicated stage-based funds, the firm focuses on seed to early- and late-stage venture growth investments, primarily in the technology, healthcare, and energy tech sectors. Founded in 2015, B Capital has an integrated, global team across nine locations in the U.S. and Asia. The firm’s value-add platform, together with the consulting expertise of its strategic partner, The Boston Consulting Group, provides entrepreneurs with the tools and resources to scale quickly and efficiently, expand into new markets, and build market-leading businesses.
“We’re excited to be named one of GrowthCap’s Top Growth Equity Firms of 2025. This recognition reflects our commitment to partnering with exceptional founders who are scaling transformative companies and solving some of the world’s biggest challenges. We’re proud to support bold entrepreneurs building lasting businesses across technology and AI, healthcare, and energy tech.” — Raj Ganguly, Co-Founder and Co-CEO
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 25 years ago, Francisco Partners has invested in more than 500 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $50 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 is an expert in divisional carve-outs and has established itself as a partner and buyer of choice for corporates as they evaluate divestitures and partnerships. The firm’s proven reputation for delivering exceptional returns through a distinctly flexible approach, deep domain knowledge, and strong operational expertise has allowed FP to help its portfolio companies tactically navigate challenging ecosystems and inflection points. 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 as a product of FP’s prioritization of transparency, collaboration, and an orientation to action.
“At Francisco Partners, we believe the most compelling opportunities in technology are often found where complexity obscures true growth potential. Our success comes from pairing deep sector expertise with hands-on operational engagement to help companies scale, strengthen execution, and become strategically essential over the long term. We’re grateful to the investors, management teams, and employees who share this conviction and continue to execute against it alongside us.” — Dipanjan “DJ” Deb, Co-Founder and CEO
Apax Digital is a global growth investment platform dedicated to partnering with high-growth technology companies worldwide. The platform focuses on SaaS, data and analytics, tech-enabled services, and digital marketplaces, investing through both minority growth equity and growth buyout structures. Apax Digital works closely with exceptional founders and leadership teams to help unlock their full potential and accelerate expansion. The team leverages deep subsector expertise, extensive global insights, and operational support to address strategic priorities such as go-to-market effectiveness, product innovation, pricing optimization, and international growth. Backed by the broader Apax platform with decades of technology investing experience, Apax Digital aims to bring clarity to the complexity of scaling transformative businesses and deliver strong long-term outcomes. Its value-creation model combines disciplined investment selection with hands-on operational impact to help portfolio companies achieve accelerated growth and lasting success.
“We are proud to be named to GrowthCap’s Top Growth Equity Firms list for the third consecutive year. This recognition reflects our continued focus on partnering with exceptional founders and management teams, our disciplined approach to investing, and the strength of the Apax Digital platform. We are grateful to our portfolio partners, team, and advisors who make this work possible.” — Marcelo Gigliani, Managing Partner
Founded in 1998, Charlesbank Capital Partners is a leading middle-market private investment firm with approximately $20 billion of assets under management as of September 30, 2025. Based in Boston and New York, the firm brings a long-standing team, deep middle-market specialization, and experience investing across multiple business cycles.
Charlesbank takes a thematic approach to investing across its core sectors: business and consumer services, healthcare, industrials, and technology and technology infrastructure. The firm draws on sector expertise and long-term perspective to identify opportunities and partner with strong management teams to unlock value and drive sustainable growth.
Through its complementary private equity and credit strategies, Charlesbank provides flexible capital solutions tailored to the needs of its portfolio companies. These strategies work closely together, leveraging the firm’s shared insights, resources, and network.
Charlesbank is guided by a mission to deliver strong risk-adjusted returns through a collaborative, high-performing team and a culture rooted in its core values of Team, Impact, Excellence, and Respect.
“This recognition reflects the focus we bring to every partnership. We work closely with management teams to help them scale thoughtfully, improve how their businesses operate, and position them for long-term success. Being named a Top Growth Equity Firm by GrowthCap is a meaningful acknowledgment of that approach.” — Michael Choe, Managing Partner, CEO, and Co-Head, Flagship, at Charlesbank
Norwest is a global venture and growth equity investment firm managing more than $15.5 billion in capital. Since its inception, the firm has invested in more than 700 companies and currently partners with more than 250 companies in its venture and growth equity portfolio. Norwest’s growth equity team has a long track record of working with the most innovative companies in the following key sectors: technology (cloud & IT infrastructure, internet, and SaaS), business services, financial services, healthcare, as well as growth products and services. The Norwest team offers a deep network of connections, extensive operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses.
“We are honored to be recognized by GrowthCap as one of the Top Growth Equity Firms of 2025. Since 2009, Norwest’s Growth Equity team has had the privilege of partnering with founder-led, profitable businesses in technology, financial services, healthcare, as well as growth products and services. This award reflects the dedication, deep domain expertise, and collaborative culture of the Norwest team that I am lucky to work with every day.” — Jon Kossow, Managing Partner
Founded in 1992, JMI Equity is a premier growth equity firm focused on investing in leading software and AI-driven businesses. 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 October 2025, the firm’s portfolio represents approximately $10 billion in combined revenue, $85 billion in aggregate enterprise value, and 40,000 jobs.
“For over 30 years, JMI Equity has had the privilege of partnering with exceptional founders and management teams of leading software companies to help accelerate growth and build enduring market leaders. We’re proud to be recognized by GrowthCap as one of the Top Growth Equity Firms of 2025.” — Peter Arrowsmith, Managing Partner
Turn/River Capital is a 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 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.
“Our growth engineering approach brings investors and operators together to work hands-on with leadership teams to systematically scale marketing, sales, and customer success. By pairing flexible capital with deep operational support, we help software businesses accelerate growth while building durable, long-term value.” — Joanne Yuan, Partner and Co-Head of Investments
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.
“This recognition from GrowthCap is especially meaningful because it reflects what we value most at Silversmith: long-term partnerships, deep alignment with founders, and doing the work the right way. We’re fortunate to work with founders and CEOs who are building enduring companies in healthcare and technology, and with a team that brings focus, consistency, and humility to supporting their growth every day.” — Jeff Crisan, Co-Founder and Managing Partner
Bregal Sagemount is a leading growth-focused private capital firm with more than $7.5 billion of cumulative capital raised. 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, information/data services, financial technology & financial services, digital infrastructure, healthcare IT, and business & consumer services.
“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
Bregal Milestone is a leading software private equity firm with approximately €1.7 billion of capital raised since inception. The firm provides growth capital and operational support to build market-leading software companies. Bregal Milestone is part of Bregal Investments, a leading global investment platform with assets under management of over €19 billion.
“At Bregal Milestone, we work alongside European founders and management teams to provide growth equity and valuable hands-on operational expertise to help scale businesses into global leaders. With the use of our AI-driven data science team and an unwavering focus on responsible investing practices, our dedicated investment and ‘Milestone Performance Partners’ teams help to support companies as they take the next steps on their journey.” — Cyrus Shey, Co-Founder and Managing Partner
Sageview Capital, LP is a growth equity firm founded in 2006 that focuses on partnering with ambitious entrepreneurs building category-defining software and tech-enabled businesses. Sageview collaborates with management teams on a tailored value creation approach, leveraging its sector focus, network, and resources. Sageview has over 140 years of combined investing and operating experience and has deployed $1.8 billion across more than 40 growth investments across various market cycles.
The Sageview team has been the single largest investor in every fund, making up over 20% of its invested capital. This significant commitment aligns the firm’s interests with those of its investors and portfolio companies. Sageview’s success truly depends on the portfolio’s success. Every investment matters.
“At Sageview Capital, we partner with proven growth companies at inflection points where capital and hands-on operating expertise can meaningfully accelerate scale. Our approach is focused and collaborative—with a concentrated portfolio and significant personal capital invested alongside our LPs, alignment and long-term value creation sit at the center of everything we do.” – Sasank Chary and Jeff Klemens, Partners
Mainsail Partners is a growth equity firm that invests in bootstrapped B2B software companies to help them grow into market leaders. The 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 more than 100 companies over the last 22 years.
“This recognition underscores the strength of the founders we partner with and our approach to durable growth. As AI reshapes the software landscape, we launched Mainsail AI Labs to serve as a dedicated center of excellence, helping management teams translate AI innovation into real operational and customer impact. By pairing deep vertical market software experience with AI capabilities, we can support our partner companies in scaling efficiently while staying true to the founder culture and customer obsession that drives enduring value to the businesses they serve.” — Vinay Kashyap, Partner
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 roles as industry leaders. With over $3 billion in assets under management and a team of over 80 professionals, Five Elms has invested in 79 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 believe that combining extraordinary products with exceptional people is a remarkable way to drive sustainable outcomes. We remain committed to partnering with some of the industry’s most ambitious founders to accelerate growth, deploy AI, and de-risk the path to long-term value. We are honored that GrowthCap has once again recognized our team’s discipline and our firm’s culture of excellence.” — Fred Coulson, Founder and Managing Partner
Serent Capital is a growth-focused private equity firm partnering with founder-led B2B software and technology companies. Serent takes a differentiated approach, combining flexible growth capital with hands-on operational support through its in-house Growth Team of more than 25 professionals. By partnering with Serent, founders gain access to practical strategic and operational resources to accelerate growth, including go-to-market execution, executive hiring, strategic M&A support, and a curated network of more than 400 founders and operating executives. With more than $6 billion in assets under management, Serent has partnered with more than 70 industry-leading companies, helping them scale efficiently and sustainably while preserving founder vision.
“It’s humbling for our values and work to be recognized by firms like GrowthCap. This is a wonderful reflection of the partnerships we’re fortunate to have and the trust we build with founders and leadership teams as they scale their businesses.” — Prital Kadakia, Partner
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.
“It is flattering and exciting to be recognized by GrowthCap again this year. We’re very grateful to all those who allow us to keep chasing great outcomes—the entire Level team, our growing portfolio of software businesses, and our amazing investors!” — Ben Levin, Co-Founder and CEO
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.
Lead Edge Capital is a growth equity firm with $5 billion in assets under management, investing in software, internet, and tech-enabled businesses globally. Since 2011, the firm has partnered with over 100 companies—including Alibaba, Asana, Toast, Duo Security, Wise, and Benchling—and supported more than 60 successful exits. Lead Edge is backed by a network of over 700 individual investors, including operators, executives, and entrepreneurs, who actively help portfolio companies scale by providing access to talent, customers, and strategic insights. The firm has offices in New York City, London, and Santa Barbara.
“Growth doesn’t happen in isolation. It happens when the right people are around the table. Our LP network brings decades of operating experience into every investment, turning insights and access into tangible outcomes for our portfolio companies. This recognition reflects the strength of our LP network and the real value it delivers to our partners and entrepreneurs every day.” — Mitchell Green, Founder and Managing Partner
WestView Capital Partners was founded in 2004 to focus on partnering with outstanding founders and entrepreneurs to help them grow their firms through technology, innovation, opportunism, hard work, and grit. Since inception, WestView has executed on its vision of being helpful yet unintrusive to its management team partners. WestView has raised five funds totaling $2.7 billion and has invested in 66 companies. The firm prides itself on being a complementary partner to passionate entrepreneurs with domain expertise so deep, it’s effectively “in their blood.” WestView focuses on helping entrepreneurs grow and evolve their organizations as they navigate the many opportunities and challenges that come with growth. The firm has significant experience with high-growth companies, having helped many more than double in size during the investment period. Approximately half of WestView’s investments have been in minority positions, and across all investments, management ownership has averaged approximately 39%, allowing owner-operators to meaningfully benefit from the growth achieved together.
WestView believes culture defines great organizations. As such, the firm does not seek to change the cultures of the companies in which it invests. Instead, the firm looks to expand upon the attributes that entrepreneurs have successfully instilled in their organizations. WestView differentiates itself through its ownership flexibility, longstanding track record of working with growth companies, and being a true value-added partner to its entrepreneurs. The firm has also continued as an investor in multiple companies where it was the first institutional capital, as a testament to its commitment to being a longstanding growth company investor.
“We’re proud to once again be recognized by GrowthCap as a Top Growth Equity firm. This recognition highlights the strength of our team and the long-term partnerships we’ve built with founders and investors alike. Having more than 40 founders invest in our funds is a strong testament to the trust and shared vision behind those relationships.” — Jonathan Hunnicutt, Managing Partner
Founded in 1988, Ampersand Capital Partners is a middle-market private equity firm dedicated to growth-oriented investments in the healthcare sector with $3 billion of assets under management. Ampersand invests in companies that support the life sciences ecosystem, including laboratory products and services, contract manufacturing, pharma services, and specialty pharma. With offices in Boston, MA, Amsterdam, Netherlands, and London, UK, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its 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 expertise to closely collaborate 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, forging both founders and companies into industry leaders.
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 invested in over 75 businesses, completed over 55 exits, and raised more than $1.5 billion of 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 Growth Equity Firm.” — Carter Griffin, General Partner
Founded in 2015, PeakSpan Capital is a leading growth equity firm investing exclusively in high-growth B2B software companies. With $2.5 billion in assets under management and a team of 28 across its San Mateo and New York City offices, PeakSpan has supported 58 software businesses and has realized 19 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 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 with the goal of delivering strong risk-adjusted outcomes. PeakSpan leverages its deep domain expertise (spanning 12 BluePrint Market Themes, or sectors), stage expertise, proprietary and patented technology platform, and consultative approach to drive strategic initiatives, along with an on-demand network of more than 450 operating advisors through the PeakSpan Expert Community (PEC) program, which provides superior operational support across key strategic initiatives such as go-to-market, product strategy, organizational model best practices, industry or practitioner perspectives, and more.
“We’re honored to be recognized among GrowthCap’s Top Growth Equity Firms of 2025 for a third year in a row, alongside an outstanding group of peers whom we greatly respect. Over a decade ago, we founded PeakSpan with a clear mission: to be the partner of choice for exceptional emerging growth-stage software entrepreneurs and teams. This recognition is a testament to the dedication of our team, whose relentless pursuit of this mission continues to drive us forward. Most importantly, we’re deeply grateful to our incredible stakeholders for their trust and partnership—it’s their support that makes our work possible.” — Phil Dur, Co-Founder and Managing Partner
LLR Partners is a lower middle-market private equity firm focused on investing in software and tech-enabled companies within the knowledge economy. Founded in 1999 and headquartered in Philadelphia, LLR has raised over $7.5 billion across seven funds and has partnered with over 130 companies. LLR believes in creating value through partnership by providing flexible capital, strategic guidance, and sector insight to help companies grow every day.
K1 is one of the largest investors in small-cap enterprise software companies globally. Dedicated to transforming lives and industries, the firm partners with founders and strong management teams to build category-leading technology businesses that deploy AI-powered, mission-critical systems of record for enterprise clients worldwide.
Since inception, K1 has invested in over 275 enterprise software companies, working alongside visionary founders to help scale innovative platforms into enduring category leaders.
K1’s approach is built on deep operational experience, data-driven decision-making, and a relentless focus on execution. 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. This operationally focused partnership model helps founders scale with precision while remaining closely aligned to customer needs and long-term value creation.
K1’s exclusive focus – driven by its single team, single office, and single strategy – reinforces alignment and discipline across the firm and its portfolio. Guided by its core values of passion, persistence, humility, and excellence, K1 partners with ambitious teams to build category leaders that create meaningful, lasting impact across the industries they serve.
Founded in 1983, Battery is a 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. Battery is now investing its 14th family of funds, capitalized at more than $3.8 billion, and has raised more than $13 billion since inception. The firm’s core areas of focus are business software; infrastructure software—including data/AI, developer tools, and cybersecurity; and industrial technology/life-science tools. As of September 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. Battery is also committed to building a strong, diverse, and cohesive internal culture.
“We’re extremely honored to be recognized again as a Top Growth Equity Firm by GrowthCap. For more than four decades, Battery has sought to partner with the most disruptive founders and management teams globally across the stage spectrum—from early-stage to buyout—and growth partnerships remain a sweet spot for us. We know that in today’s market, investors must offer more than capital, so we extend all our portfolio companies critical resources to help them grow, ranging from go-to-market and talent assistance to counsel around adopting AI. We’re humbled every time a growth-stage firm chooses to partner with us on their journey.” — Chelsea Stoner and Morad Elhafed, General Partners
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: communications, healthcare IT, information services, software, and tech-enabled services. The firm closed its most recent fund in 2025 at the hard cap of $1.75 billion and has over $5 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.
“For almost four decades, Pamlico’s approach to investing has been rooted in the belief that lasting success is built through a trusted partnership with our management teams. Being named again by GrowthCap as a Top Growth Equity Firm is a meaningful recognition of the success we have achieved together. We are honored by the continued trust our executives and founders put in us each day as we support them through their next phase of growth.” — Eric Wilkins, Partner
HealthQuest Capital is a private equity firm that provides capital to transformative healthcare companies. The firm 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 fosters 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 various aspects of the healthcare industry.
“We’re grateful to GrowthCap for this recognition and proud of the work behind it. At HealthQuest, we focus on building transformational healthcare companies by being thoughtful partners to our portfolio companies navigating complexity and scale. We also congratulate the other firms recognized this year—each is contributing in meaningful ways to the evolution of growth investing.” — Garheng Kong, Managing Partner
Volition Capital is a Boston-based growth equity firm that principally invests in high-growth, founder-owned companies across the software, internet, and consumer sectors. Founded in 2010, Volition has over $1.7 billion in assets under management and has invested in and/or provided sub-advisory advice to more than 60 companies in the United States and Canada. The firm selectively partners with founders to help them achieve their fullest aspirations for their businesses.
“Being named a Top Growth Equity Firm again this year is meaningful because our success is inseparable from the success of the founders we partner with. From the beginning, we’ve focused on being thoughtful, consistent, and long-term partners, supporting entrepreneurs as they build durable businesses. This recognition reflects the trust our founders place in us, the strength of those relationships, and the caliber and dedication of the Volition team.” — Roger Hurwitz, Managing Partner
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 $18.8 billion in assets under management, has completed more than 850 investments, 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. To foster top talent, Alpine has four executive talent programs, including the flagship CEO-in-Training (CIT) program that hires MBA graduates directly out of business school, many of whom have never worked in private equity before. 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.
“Alpine was founded with the ambition to set the standard for private equity, to create an environment where outstanding leaders can do their best work, and to make a positive impact beyond our investments. Our approach has always been grounded in the belief that people are the driving force behind lasting success. Being recognized by GrowthCap as a Top Growth Equity Firm of 2025 is a meaningful acknowledgment of that philosophy and the commitment our team brings to building durable, high-quality companies. We are deeply thankful to our portfolio company leaders, our investors, and our employees who have partnered with us for the last 25 years.” — Graham Weaver, Founder and CEO
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 October 2025.
“Long Ridge is honored to have been selected by GrowthCap as a Top Growth 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
Centana Growth Partners is a specialized growth equity firm with deep, relevant sector expertise in financial services, fintech, and related enterprise software. Each partner brings decades of experience across these industries, enabling them to bring valuable insights and an informed approach to their investments.
With investments ranging from $10 million to $50 million or more, every partnership is tailored to meet the unique goals of each company. By maintaining a focused size of investment, Centana is positioned to provide each portfolio company with the dedicated attention, strategic guidance, and hands-on support needed to thrive.
“We’re honored to be recognized by GrowthCap as one of the Top Growth Equity Firms of 2025. This acknowledgment reflects Centana’s team’s focus on being thoughtful, consistent partners to founders and management teams as they scale complex businesses. At Centana, we invest with a long-term mindset and a deep respect for operating reality: supporting leaders as they navigate growth, product development, and market evolution. We’re grateful to work alongside companies tackling meaningful challenges, and this recognition is a credit to their execution, resilience, and ambition as much as our own.” — Sarah Kim, Partner
One Peak is a leading growth equity firm with $4 billion in assets under management that invests in high-growth software and AI scale-ups across Europe and Israel. Over the past decade, the firm has partnered with some of the most innovative entrepreneurs, helping them achieve ambitious goals, from global expansion to successful exits. Key investments include Akur8, Ardoq, Cymulate, Datarails, Deepki, Docplanner, emnify, iplicit, Keepit, Lucca, Neo4j, PandaDoc, and Sparta, among many others.
What differentiates One Peak is its team and technology. The firm combines a highly experienced investment team with a dedicated Value Creation Team, made up of former C-level executives from top software companies. These experts work alongside founders across critical growth areas: talent, sales, marketing, product, and strategy, to scale their businesses into category leaders.
One Peak’s portfolio companies also benefit from PULSE, the firm’s proprietary market intelligence platform. PULSE analyzes billions of private tech data points, providing entrepreneurs with real-time insights into talent trends, M&A opportunities, and competitive landscapes, enabling them to make informed, strategic decisions as they scale.
“This GrowthCap Award recognizes what matters most to us: backing exceptional software and AI entrepreneurs and helping them build enduring market leaders. At One Peak, we go beyond capital, working side-by-side with founders through the critical scaling moments that define long-term success.” — David Klein & Humbert de Liedekerke Beaufort, Co-Founders and Managing Partners
Portage is a leading investment platform focused on partnering with ambitious, best-in-class fintech and financial services companies around the world. The firm, with $5.7 billion under management and more than 25 investment professionals across North America, Europe, and the Middle East, has invested in over 100 companies globally since inception. Portage strives to be partners of choice to companies across all stages, through both its venture strategy, Portage Ventures, as well as its flagship growth strategy, Portage Capital Solutions. Through its flexible capital offerings as well as its global network of investors, commercial partners, advisors, and value creation experts, the firm is able to help companies navigate strategic decisions to maximize long-term success. With deep industry knowledge and entrepreneurial experience, Portage is committed to supporting the leaders who are reshaping financial services.
Portage is a platform within Sagard, a global multi-strategy alternative asset management firm with over $33 billion under management.
“We are honored to be recognized by GrowthCap as a Top Growth Equity Firm. At Portage, we partner with founders and management teams building the next generation of financial services and fintech businesses. Our strategy is rooted in deep sector specialization, long-term partnership, and an operator-led approach that helps companies scale responsibly across growth stages. This recognition reflects the strength of our global platform and the exceptional entrepreneurs we have the privilege to support as they build durable, market-leading companies.” — Dan Ballen and Devon Kirk, General Partners and Co-Heads of Portage Capital Solutions
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 $100M+ of revenue scale.” — Gene Nogi, General Partner
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 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.
“Thank you to GrowthCap for this recognition. As the industry evolves from pure SaaS to AI-infused models, our job remains the same: helping founders build better businesses. We are proud to use our Five-Point Plan to create the alignment and clarity teams need to navigate this shift and drive measurable value.” — Robert Morse, Co-Founder and Managing Partner
Haveli is an Austin-based private equity firm that seeks to invest in the highest quality technology companies, with a focus on software and gaming. Through control, minority, or structured equity and debt investments, it has rapidly emerged as an influential and disciplined investor in the technology growth equity landscape. The firm seeks to work collaboratively with innovative entrepreneurs and management teams at strong, established companies with well-positioned products and transformational growth potential. With a demonstrated ability to raise substantial capital, deep investment and operational expertise, and a talented team with decades of hands-on experience across enterprise software, cybersecurity, infrastructure, and interactive entertainment, Haveli provides highly tailored operational and strategic support. Haveli raised the largest debut flagship private equity fund to date, which closed in March 2025 at $4.5 billion, closed a dedicated gaming fund at $834 million in March 2024, and has deployed capital across multiple investments in the software and gaming sectors.
“Haveli strives to be a collaborative, transparent, and accountable partner to investors, portfolio companies, and stakeholders, and we believe strong talent, discipline, and values generate outstanding results. Through differentiated investing in the technology industry, we leverage our expertise to provide operational and strategic support to software and gaming companies, helping them drive innovation and accelerate growth. We’re privileged to work alongside exceptional management teams across our portfolio.” — Brian Sheth, Founder and Chief Investment Officer
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.
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.
“Motive Partners is honored to be recognized by GrowthCap as one of the Top Growth Equity Firms. This recognition reflects the strength of our proven and repeatable Investors, Operators, Innovators (IOI) model and the exceptional fintech leaders we partner with across our ecosystem. Growth equity today is about deep operational engagement and long-term partnerships that build resilience and relevance – not just rapid scaling. We look forward to continuing to support companies forming the future of finance.” — Rob Heyvaert, Founder and Managing Partner
Optum Ventures is the independent venture fund of UnitedHealth Group. The firm invests in digital health companies that leverage data and insights to improve consumers’ access to healthcare services, enhance the delivery and payment of care, and make the healthcare system more reliable and easier to navigate.
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Copyright: The Top Growth Equity Firms of 2025 publication is copyrighted material, produced and published by GrowthCap, LLC. For information pertaining to content permissions, please refer to GrowthCap’s award usage regulations.
Disclaimer: The data provided in this publication is for informational purposes only and should not be construed as investment advice, endorsement, nor recommendation. GrowthCap believes the information in this publication to be accurate but does not verify its accuracy independently and does not warrant or guarantee that it is accurate or complete. GrowthCap has no obligation to provide any updates or changes to the information. No investment decisions should be made using this information.
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