Buyout PE
The Conversion Fund
The Conversion Fund acquires controlling stakes in established, profitable businesses, from Wilmington, United States. It states a focus on software & internet and consumer & retail.
Stated investment criteria
What The Conversion Fund says it buys
Read from The Conversion Fund’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 The Conversion Fund to consider any particular business, and nothing on this page 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.
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.