Buyout PE
L Capital
L Capital acquires controlling stakes in established, profitable businesses, from San Francisco, United States. It states a focus on software & internet, business & professional services and industrials & manufacturing.
Stated investment criteria
What L Capital says it buys
Read from L 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.
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. 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 L Capital to consider any particular business, and nothing on this page is represented as being for sale.
Regulatory record
How L Capital is registered
From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.
| Adviser status | SEC registered |
| Regulatory assets under management | $197m |
| Employees | 3 |
| Private funds advised | 6 · $164m gross |
| SEC adviser number | CRD 277098 |
Recorded transactions
Buying and selling
Deals in which L Capital is named as buyer or seller in the transaction archive. 1 recorded exit, most recently in 2015.
| Company | Side | Counterparty | Year | Consideration |
|---|---|---|---|---|
| Cigierre | Sold | BC Partners | 2015 | $338m |
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.
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.