Top Internet Software & Services Private Equity Funds with Recent Private M&A Activity

341

Active Firms

17,787

TTM Deal Inquiries

$3M-$19M

Core Revenue Range

$800K-$4M

Core EBITDA Range

Top States by Activity

Florida 14%

California 11%

Texas 10%

New York 7%

New Jersey 4%

Key Attributes

Focus: Control Investments | Capital Source: Committed Capital | Operating Approach: Scale & Exit

CAI Capital Partners

16 Total Closed Deals Actively Sourcing Deals

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Having invested $1.6 billion in private equity over three decades, CAI has partnered with companies across North America. We are focused on Canada, a region where our connectivity offers a definitive edge.Our longstanding Canadian roots make us alive to the possibilities in the Canadian lower middle market and a phone call away from the experts and partners who can accelerate growth for each of our portfolio companies.

Recent Transactions

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Jul 2026 Acquired ATS Scientific
Nov 2024 Acquired Kintera
Sep 2022 Acquired LineStar Utility Supply
Nov 2021 Acquired GreenArrow

Council Capital

16 Total Closed Deals Actively Sourcing Deals

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Our goal is to ensure every investment we make is on the right side of change in healthcare – supporting companies that improve the healthcare system and who will help accelerate the shift from volume of service to value. While change is often slow and unpredictable, we seek investments that perform well in the current environment and will thrive as the pace of change accelerates.We invest in companies positioned for rapid growth that operate in excellent markets within healthcare. Our focused approach targets companies that will benefit most from our relationships and expertise.Within the…

Recent Transactions

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Aug 2025 Invested in GeoH
Aug 2024 Invested in StrataPT
Mar 2024 Invested in Opus Medical (fka OccMD, Allegiant Managed Care, and Corporate Remedies)
Nov 2022 Invested in Alivia Analytics

May River Capital

15 Total Closed Deals Actively Sourcing Deals

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May River Capital is a private equity investment firm based in Chicago and founded by three partners who seek to help lower middle-market, high-caliber industrial businesses grow and thrive. We take pride in our culture of partnership and collaboration—a characteristic rooted in the fundamental appreciation of the human element in business. Since 2012, we have completed 33 acquisitions across 15 industrial growth platforms. We are currently investing out of our third Fund of $530M.

Recent Transactions

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Apr 2025 Acquired Tusk Industrial
Oct 2024 Acquired NDSL
Oct 2024 Acquired Cashco
Nov 2023 Acquired RLE Technologies

Terminus Capital Partners

15 Total Closed Deals Actively Sourcing Deals

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OverviewTCP is a software private equity firm with an operational focus.Investment CriteriaB2B softwareUS Only$10-$50m revenue (for platforms)$1m+ revenue (for add-ons)No growth or EBITDA requirementsMajority investmentsHungry/humble mgmt teamsFor CompaniesWe are a true working partner who lightens the load and shares the wealth.For M&A AdvisorsExpert, high-conviction buyer: unmatched speed and certainty.

Recent Transactions

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Nov 2025 Acquired Discuss.io
Dec 2024 Acquired Acribe
Aug 2023 Acquired National Quality Review
Aug 2023 Invested in Simplicity Collect

Traction Capital

15 Total Closed Deals Actively Sourcing Deals

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Traction Capital is a Minnesota-based private equity firm focused on acquiring and scaling businesses located in the Upper Midwest.Traction seeks buyouts in essential industries with strong, defensible market positions, target control investments in lower middle market companies with $1–3.5M of EBITDA, Traction is also very interested in ecommerce, product, and SaaS opportunities.Traction prioritizes industries with recurring demand, low cyclicality, and meaningful barriers to entry, enabling sustainable value creation and attractive exit optionality.

Recent Transactions

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Jun 2025 Invested in PARQA
Jun 2025 Invested in Blank Metal
Feb 2025 Acquired Superior Decks and Railings
Dec 2024 Invested in Atlasticity

Hadley Capital

15 Total Closed Deals Actively Sourcing Deals

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We work with founders/owners, families and management teams in need of ownership transition, management succession, and / or growth support. We primarily focus on companies with revenue between $5 million and $80 million, and a cash flow between $1 million and $10 million. We consider a wide range of industries and look for companies with potential to build on past successes and open to new ideas.

Recent Transactions

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Sep 2014 Acquired Brushy Mountain Bee Farm
Sep 2013 Acquired Centare
Dec 2012 Acquired Bluff Manufacturing
Sep 2012 Acquired W.C. Rouse

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Blue Sage Capital

15 Total Closed Deals Actively Sourcing Deals

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Blue Sage Capital is an Austin, Texas-based private equity firm that has been investing in profitable, growing, lower middle-market companies since 2002. Blue Sage currently has over $400 million of assets under management and seeks to partner with founders, families, and management teams as the first round of institutional capital for businesses that enjoy leadership positions in niche manufacturing, environmental solutions, or specialty services industries. Blue Sage typically invests $20 million to $40 million in control buyout investments and recapitalizations of companies with $20…

Recent Transactions

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Apr 2023 Invested in NexGen Financial
Jan 2023 Invested in Clearly Clean
Jul 2022 Invested in Baker Manufacturing Company LLC
Apr 2021 Acquired Purpose Legal

Third Century Management, LLC

14 Total Closed Deals Actively Sourcing Deals

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Third Century Investment Associates, LP ("TCIA") manages private equity capital for significant investments in small businesses. We invest actively in partnership with operating companies and carefully selected management teams located in the United States. Our team targets proven businesses in specialized sectors where we work to become advantaged investors through existing or acquired expertise. We are a disciplined, process-driven partnership, focused on long-term fundamentals. Our mission is to build sustainable business value, earn a superior return and develop a best-in-class reputation…

Recent Transactions

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Apr 2026 Acquired Mobile IV Medics
Sep 2025 Acquired BlackJet Marketing
Jul 2025 Acquired Local Web Leads
Oct 2024 Acquired Mobile RN Management

Agellus Capital

13 Total Closed Deals Actively Sourcing Deals

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Agellus Capital partners alongside management teams of essential, non-discretionary services businesses across the United States and Canada. We focus on a combined organic and buy-and-build strategy, scaling our companies through add-on acquisitions within large, fragmented markets. Post-M&A integration, commercial and operational improvements, and investments in technology and people are key to our value creation playbook helping to accelerate organic growth.

Recent Transactions

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Jul 2026 Acquired The Logic Group
May 2026 Acquired Lawn Enforcement Agency
Apr 2026 Acquired Synergy Landscapes
Mar 2026 Acquired Titan Restoration

Ironbridge Equity Partners

12 Total Closed Deals Actively Sourcing Deals

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Ironbridge is a Toronto-based private equity firm with more than $750 million of assets under management focused exclusively on investing in companies in the Canadian lower middle-market. We focus on traditional industry businesses in the manufacturing, distribution, consumer products and services, and business products and services spaces. We have completed over 55 transactions since 2005 and are currently deploying from our $383M Fund IV. We are looking for new platform acquisitions in Canada fitting the following parameters:Lower middle-market focus:• Deal Sizes generally between $25 and…

Recent Transactions

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Oct 2018 Invested in Canada Metal (Pacific) Limited
Dec 2017 Invested in Midland Appliance
Jun 2017 Invested in Avena Foods
Jun 2017 Invested in Brooklin Concrete Products

Metalmark Capital

12 Total Closed Deals Actively Sourcing Deals

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Metalmark targets middle-market companies, seeking to build long-term value through active and collaborative partnerships with business owners, founders and executives.We invest primarily in privately held companies with a significant strategic footprint and growth objective in the North American market.Metalmark is a patient and diligent partner intent on building long-term enterprises.

Recent Transactions

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Aug 2023 Acquired CP Power
Aug 2019 Acquired Collagen Matrix
Oct 2018 Acquired T Parker Host
Oct 2016 Acquired Premier Research

Platform Partners LLC

12 Total Closed Deals Actively Sourcing Deals

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Founded in 2006, Platform Partners is a Houston-based investment firm that as of September 2025 manages approximately $800M of assets in a perpetual holding company structure, which allows for a long-term, patient approach. We have invested in over 30 companies, and we typically are the first institutional investor. We invest $25-$100M of equity in profitable, growing companies, and like a private equity firm invest from a pool of committed capital. We invest across industries and have significant experience in business services, financial services and industrial…

Recent Transactions

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Oct 2025 Acquired Champion Contractors & Services
Dec 2024 Acquired Basin Creek
Oct 2024 Acquired Progressive Pipeline Management, LLC
May 2024 Acquired Alliance Strategies Inc

LDR Growth Partners

12 Total Closed Deals Actively Sourcing Deals

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LDR Growth Partners (LDR) is a people-focused private equity firm.Our vision centers on maximizing the potential of people, communities, and businesses through teamwork and the infusion of human and capital resources.Our mission is to create a new standard for successful North American businesses by aligning growth and infrastructure with optimism and opportunity.Our values are trust, service, creativity, and discipline.

Recent Transactions

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Oct 2025 Acquired Confidential Company
Oct 2025 Acquired Confidential Company
Jul 2025 Acquired Confidential Company
May 2025 Acquired Confidential Company

Centerfield Equity

11 Total Closed Deals Actively Sourcing Deals

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Centerfield Equity collaborates with like-minded owners and management teams seeking a change of control transaction to accelerate business transformation. We focus on lower middle market businesses generating greater than $1.5M in EBITDA that are based in the Midwest. Centerfield Equity invests across a variety of industry verticals, including business services, healthcare, consumer, niche manufacturing, and distribution. We do not invest in oil & gas, financial services, real estate, retail, early stage, or distressed situations.

Recent Transactions

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Nov 2024 Acquired Dental Alliance Group
Jun 2024 Acquired ASAP Garage Door Repair
Mar 2018 Acquired TriplePoint
Jul 2017 Acquired Rice's Honey

Catalus Capital

11 Total Closed Deals Actively Sourcing Deals

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Catalus Capital is a multi-strategy private equity firm founded in early 2011. The flexibility of the firm’s investment mandates sets it apart from its peers. The firm invests out of two strategies: Catalus Growth Partners, a buyout fund focused on acquiring majority stakes in growing middle market companies, and Catalus Special Opportunities, a fund focused on finding deep value in corporate, real estate, and esoteric assets.

Recent Transactions

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Sep 2023 Acquired Big Apple Auto Leasing
Jun 2023 Acquired Forge Nano
Feb 2023 Acquired XL-batteries
Dec 2022 Acquired CC Wellness

Cyprium Investment Partners

11 Total Closed Deals Actively Sourcing Deals

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Cyprium Partners (Cyprium) is a private investment firm that makes non-control investments in profitable middle-market companies, allowing company owners and their management teams to retain controlling interest in their business after we invest. Cyprium can provide any combination of equity or subordinated debt giving us non-traditional flexibility in structuring transactions as well as increasing our certainty of close.Cyprium, through the experience of its partners as well as through its Advisory Council members, strives to be a value-added investor that supports the growth, acquisition,…

Recent Transactions

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Mar 2025 Invested in Willamette Valley Meat
Aug 2024 Invested in Washington Metal Fabricators
Dec 2023 Invested in Apollo
Dec 2023 Invested in Kustom

Peterson Partners

11 Total Closed Deals Actively Sourcing Deals

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Peterson Partners is an independent private investment firm based in Salt Lake City, Utah with funds dedicated to private equity, venture capital, and search. Our private equity team invests in lower middle market companies and seeks to back entrepreneurs with a growth focus. We have invested in over 200 companies, primarily in the US. Our typical transactions include both minority and majority investments with businesses that have $10M - $100M of revenue and $2M - $20M of EBITDA.We were founded by Joel Peterson, a teacher of entrepreneurs, a long-time backer of entrepreneurs, and an…

Recent Transactions

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Aug 2023 Invested in Airin
Aug 2023 Invested in Aspire Home Health Care
Aug 2023 Invested in Banyan
Aug 2023 Invested in allbirds

ZS Fund

11 Total Closed Deals Actively Sourcing Deals

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We are a private equity firm engaged in making long-term investments in successful middle-market companies. Since 1985, we have focused on transactions that provide liquidity to business owners while enabling them to maintain a significant ownership stake and keep their company independent. Our strengths are understanding the objectives of business owners, structuring transactions that respond to those objectives, and being constructive partners to help increase the value of the businesses in which we invest.We look for a handful of important characteristics in a potential investment…

Recent Transactions

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Aug 2023 Acquired Research Horizons, LLC
Dec 2016 Acquired Juniper Landscaping Holdings, LLC
Jul 2016 Acquired Amerijet LLC
Dec 2012 Invested in SOS Security LLC

Tyree and D'Angelo Partners

11 Total Closed Deals Actively Sourcing Deals

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Tyree & D'Angelo Partners ("TDP") is a private equity investment firm that focuses on control investment opportunities in the lower middle market (companies with $1-$5M of EBITDA). We seek out investments in which we can establish true collaborative partnerships with business owners and management teams that will lead to a substantial creation of value over a long-term investment horizon. TDP relies on an extensive team comprised of Investment Partners, Executive Partners, and Advisory Partners to make investments, and focuses on opportunities in which our team of professionals can add…

Recent Transactions

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Aug 2023 Acquired Veterinarian Partners
Aug 2023 Acquired Thrive Physical Therapy Partners
Aug 2023 Acquired Superior Insurance Partners
Aug 2023 Acquired Star Dental Partners

Sole Source Capital

11 Total Closed Deals Actively Sourcing Deals

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Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas with an additional office in Santa Monica, California.

Recent Transactions

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Sep 2024 Acquired GrayMar Environmental Services, Inc.
Aug 2023 Invested in Cantium
Feb 2023 Acquired Lee Fish
Oct 2022 Acquired Westwood Laboratories

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Firms in the Internet Software & Services Private Equity Funds directory are ordered based on recent deal activity on Axial. The default order reflects observed market signals rather than a subjective ranking of firm quality.

Each profile provides information about the firm’s areas of focus, transaction criteria, and relevant activity on Axial’s M&A platform. Together, these details provide a clearer view of where a firm is active and the types of companies and opportunities most relevant for it.

Based on activity on Axial’s M&A platform, the core revenue range for Internet Software & Services Private Equity Funds is $3M-$19M, with a core EBITDA range of $800K-$4M. Company size can be an important indicator of fit, as firms often concentrate their experience, resources, and transaction activity within particular segments of the market.

Relevant Technology experience can be an important consideration when evaluating a firm. Familiarity with the sector can provide a stronger understanding of its business models, market dynamics, valuation considerations, and transaction environment. The 341 firms included in this directory provide a starting point for identifying firms with relevant experience and activity in Technology.

Not necessarily. Many firms are active across multiple industries, so inclusion in the Internet Software & Services Private Equity Funds directory reflects relevant experience or activity in Technology, rather than an exclusive sector focus. Individual profiles provide additional context on each firm’s areas of focus and activity within the sector.

When comparing Private Equity Funds with experience in Technology, consider factors such as size range, geographic reach, and recent transaction activity. These characteristics vary across the 341 firms included in the directory and can help identify firms that align with your needs.

Axial can help you identify and connect with firms based on your objectives and what you are looking to accomplish. The process varies depending on your role and transaction needs. If you are interested in connecting with firms in the Internet Software & Services Private Equity Funds directory, you can request information here.

Top Internet Software & Services Private Equity Funds

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