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Growth Equity

Digital Fuel Capital

Digital Fuel Capital takes minority stakes in growing companies, usually without full control, from Boston, USA. It states a focus on software & internet, consumer & retail and food & beverage.

Disclosed holdings
Most recent fund2020
HeadquartersBoston, USA
Largest single fundNot stated

Stated investment criteria

What Digital Fuel Capital says it buys

Read from Digital Fuel 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.

People listed on its team page61

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. Digital Fuel Capital states that it takes minority stakes rather than control. 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 Digital Fuel Capital to consider any particular business, and nothing on this page is represented as being for sale.

SEC filings

What Digital Fuel 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 filed1
Total capital raisedNot disclosed in filings
Largest single vehicleNot disclosed in filings
Filing history2020
Smallest accepted commitmentNone stated
Filed fromMASSACHUSETTS

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.

Recorded transactions

Buying and selling

Deals in which Digital Fuel Capital is named as buyer or seller in the transaction archive. 1 recorded acquisition.

CompanySideCounterpartyYearConsideration
LogoSportswearBoughtCafePress2015$11m

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×

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Comparable investors

Similar mandates

Other growth equity investors active in software & internet.