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Boathouse Capital

Boathouse Capital acquires controlling stakes in established, profitable businesses, from Berwyn, Pennsylvania, USA. It states a focus on software & internet, healthcare & life sciences and business & professional services.

Capital raised$196macross 4 SEC-filed vehicles
Most recent fund2023filing since 2013
HeadquartersBerwyn, Pennsylvania, USA
Stated fund sizeFund II $230M final close (2015); AUM ~$2.0B reported (figures vary); Fund IV active

Stated investment criteria

What Boathouse Capital says it buys

Read from Boathouse 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.

Minimum revenue it states$10m1
Minimum EBITDA it states$2m1
Transaction typesRecapitalisation, Add-on1
People listed on its team page172

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. Boathouse Capital states that it takes majority or outright ownership. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Boathouse Capital to consider any particular business, and nothing on this page is represented as being for sale.

SEC filings

What Boathouse 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 filed4
Total capital raised$196m
Largest single vehicle$80m
Filing history2013 to 2023
Smallest accepted commitment$250k
Filed fromPENNSYLVANIA

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 Boathouse Capital is registered

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

Adviser statusExempt reporting adviser
Regulatory assets under managementNot reported by an ERA
Private funds advised1 · $63m gross
SEC adviser numberCRD 331815

An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.

Recorded transactions

Buying and selling

Deals in which Boathouse Capital is named as buyer or seller in the transaction archive. 1 recorded exit, most recently in 2017.

CompanySideCounterpartyYearConsideration
ConveneSoldBrookfield Private Equity2017$68m

Compiled from a transaction archive of 10,204 recorded deals. Most private transactions are never disclosed, so this is a sample of a firm’s activity rather than a complete record of it.

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.

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Comparable investors

Similar mandates

Other buyout pe investors active in software & internet.