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Growth Equity

Activant Capital

Activant Capital takes minority stakes in growing companies, usually without full control, from New York, USA. It states a focus on software & internet, financial services, healthcare & life sciences and transportation & logistics.

Capital raised$582macross 7 SEC-filed vehicles
Most recent fund2026filing since 2020
HeadquartersNew York, USA
Largest single fund$377m

Stated investment criteria

What Activant Capital says it buys

Read from Activant Capital’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

OfficesNew York1

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. Nothing here is a commitment by Activant Capital to consider any particular business, and nothing on this page is represented as being for sale.

SEC filings

What Activant Capital has raised

From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.

Vehicles filed7
Total capital raised$582m
Largest single vehicle$377m
Filing history2020 to 2026
Smallest accepted commitmentNone stated
Filed fromCONNECTICUT

Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.

Regulatory record

How Activant Capital is registered

From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.

Adviser statusSEC registered
Regulatory assets under management$1.6bn
Employees18
Private funds advised19 · $1.5bn gross
SEC adviser numberCRD 173856

Portfolio

Disclosed holdings

Companies Activant Capital lists on its own website. No investment years are published.

CompanyInvestedYears heldRecorded transaction
/dev/agents
10x Banking
11x
98point6
Activant
Adapt
Agentic Intelligence for Global Payments Growth
Airwallex
Anchor
Arkestro
Atlas
Bardeen
Baselane
Baton
Benson Hill
Better
Bolt
Boxed
Brew
Briefcase
Cardless
Caspian
Celect
Celonis
Charles
Checkr
Claira
Cofia
Condor
Current
Dedalus Labs
Deliverr
District Labs
Eco
Ekho
Emerja
Evercurrent
Fintech Today
FirstWork
Flexnode
Forage
Forter
Gr4vy
Harness Wealth
HeyDaily
Hive
Hydrow
Indigo
Jokr
Kargo
Laiye
LanzaTech
Ledger
Limetax
Micro1
Muro
Nautical
Neuron Factory
NewStand
Newstore
Outpost
Owner
Pallet
Paloma
Papaya
PartlyAI Parts Infrastructure
PaySway
Pesto
PlusDental
Popcorn
Recommind
RetailNext
Righthand
Sardine
Section
Sentify
Settle
Sherpa
Sherpa Labs
Shuttle
Simbe
Snapsheet
Socotra
Strise
Stuut
Taulia
Telepathic
Thinkline
Thirstie
Tinybird
Tridge
Trinio
Truework
Upland
Vartana
Velocity
Wags Family
Wander
Welcome Homes
WellAware
WorkMotion
XOPS
Yave
Zalos
Ziina
iCapital

Compiled from Activant Capital’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

The full software & internet picture - most active acquirers, recent transactions and every investor in the sector.

For owners

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Comparable investors

Similar mandates

Other growth equity investors active in software & internet.