Cohere Capital
Cohere Capital is a Boston-based growth-focused private equity firm founded in 2019 that invests in middle-market technology and tech-enabled services companies across the US and Canada, managing over $215M in Fund II.
- Company typePrivate
- Founded2019
- HeadquartersBoston, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Cohere Capital does
Cohere Capital is a Boston-based, growth-focused private equity firm founded in 2019 by Nik Shah and Daniel Gedney. The firm invests in leading middle-market technology and tech-enabled services companies across the United States and Canada, targeting majority or influential minority positions in businesses with enterprise values under $250 million and EBITDA up to $20 million. Cohere currently invests its second dedicated private equity fund, Cohere Capital Fund II, which closed in January 2025 with more than $215 million in commitments from an institutional investor base including pensions, insurance companies, family offices, and a strategic investment from TPG. The firm's debut fund, Cohere Capital Fund I, raised $200 million in May 2020.
Cohere's portfolio comprises 10+ wholly-owned platform companies spanning cloud services and consulting (ClearScale, acquired 2019), publisher-focused advertising technology (Sonobi, 2020), Google IT solutions (Promevo, 2021), SMB digital marketing (iPromote, 2021), eCommerce (CCS, 2021), SMB SEO services (Boostability, 2022), digital engagement and loyalty (Phaedon, acquired 2023 from ICF Next), Vision AI and IoT software (Leverege, 2025), and recovery audit SaaS (FlexTecs, 2026). Many portfolio companies operate proprietary technology platforms — Sonobi's JetStream SSP, Promevo's gPanel, Boostability's LaunchPad, Phaedon's Tally, FlexTecs' FlexTrap, and Leverege's Vision AI suite — generating recurring SaaS or tech-enabled services revenue.
The firm generates revenue through management fees and carried interest on its committed funds. It distributes capital through direct private equity investments sourced via proprietary deal flow, leveraging relationships built by founders with prior experience at H.I.G. Capital, Gauge Capital, and other middle-market PE firms. Cohere's customer base is institutional limited partners (pensions, insurance companies, family offices, TPG) and portfolio company management teams across the US and Canada. Its go-to-market emphasizes partnership with founders and management teams to build sustainable, non-linear growth plans. The firm employs nine investment and operations professionals at its Prudential Tower headquarters in Boston.
Cohere Capital firmographics
Firmographics- Name
- Cohere Capital
- Legal name
- Cohere Capital Partners
- Website
- https://coherecapital.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Cohere Capital is a Boston-based growth-focused private equity firm founded in 2019 that invests in middle-market technology and tech-enabled services companies across the US and Canada, managing over $215M in Fund II.
- Ownership category
- akta.pro rank
Where Cohere Capital is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Cohere Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Distribution channels1 record
Marketing channels2 records
Cohere Capital product offering
Product offeringCore offering
Cohere Capital is a growth-focused private equity firm that invests in leading middle-market technology and tech-enabled services businesses. The firm acquires majority or influential minority positions in companies with enterprise values under $250 million and EBITDA up to $20 million, providing capital and operational expertise to support sustainable growth plans. Currently investing its second dedicated fund of $215 million.
Product overview
Cohere Capital is a growth-focused private equity firm currently investing its second fund of $215 million in leading middle market technology and tech-enabled services companies. The firm does not offer its own proprietary products; instead, it invests in portfolio companies that offer distinct technology platforms. These include Sonobi's JetStream SSP for advertising technology, Promevo's gPanel for Google Workspace management, Boostability's LaunchPad for SEO services, FlexTecs' FlexTrap for recovery audit SaaS, Phaedon's Tally for loyalty technology, and Leverege's Vision AI software for physical operations. The investment strategy focuses on majority or influential minority positions in companies with enterprise values under $250 million and EBITDA up to $20 million.
Differentiator
Problem solved
Functional benefit
Products and services
- Cohere Capital Fund II Cohere Capital's second dedicated private equity fund with $215 million in commitments, investing across the middle market with a flexible mandate focused on technology and tech-enabled services companies. Targets majority or influential minority positions in companies with enterprise values under $250 million and EBITDA up to $20 million.
- Cohere Capital Fund I Cohere Capital's debut dedicated private equity fund with $200 million in commitments, used to invest in leading tech-enabled middle market companies. Targets majority or influential minority positions in companies with enterprise values under $250 million and EBITDA up to $20 million.
Companies that use Cohere Capital
Customer profileSegments1 record
Ideal customer profiles1 record
Cohere Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Cohere Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ICF Next / ICF InternationalminorICF Next sold its commercial marketing group to Cohere Capital, which relaunched it as Phaedon. This transaction represented a carve-out acquisition where Cohere acquired the commercial marketing business unit from the larger parent organization.
Scale indicators5 records
Recent moves7 records
Expansion highlights5 records
Cohere Capital competitors and assessment
Company assessmentDirect peers
- H.I.G. Capital: Global lower-middle-market PE firm where co-founders Nik Shah (~12 years) and Daniel Gedney both worked. Focuses on founder-owned businesses across business services and technology—directly overlapping Cohere's strategy and team pedigree.
- Gauge Capital: Lower-middle-market PE firm focused on founder-owned, tech-enabled business services, consumer, and healthcare—co-founder Daniel Gedney's prior firm. Highly overlapping strategy and target profile with Cohere.
- Trinity Hunt Partners: Lower-middle-market growth-focused PE firm investing in business services and tech-enabled services companies with EBITDA typically $5-30M—directly aligned with Cohere's EV <$250M and EBITDA up to $20M target band.
- Mountaingate Capital: Boulder-based lower-middle-market PE firm focused on tech-enabled services and consumer companies with $5-25M EBITDA—very similar fund size, sector focus, and growth-stage orientation to Cohere.
- Luminate Capital Partners: Lower-middle-market PE firm exclusively focused on tech-enabled business services—highly overlapping thematic focus with Cohere's middle-market technology and tech-enabled services strategy.
- Mainsail Partners: Growth equity firm focused on lower-middle-market technology and tech-enabled services companies—closely matches Cohere's sector focus, fund size, and growth-stage investment approach.
- Aldrich Capital Partners: Growth-focused lower-middle-market PE firm investing in technology and tech-enabled services businesses—direct overlap with Cohere's portfolio verticals including digital marketing, IT services, and software.
- Southfield Capital: Lower-middle-market PE firm focused on tech-enabled business services companies—directly overlapping with Cohere's core vertical, target company profile, and fund size range.
- Graycliff Partners: Lower-middle-market PE firm that partnered with Cohere on the Phaedon acquisition, providing unitranche debt and equity co-investment. Similar fund size and middle-market focus make it a directly comparable peer with prior transactional overlap.
Broad incumbents
- Stone Point Capital: Larger, established PE firm investing in financial services and tech-enabled business services. Significantly bigger and broader than Cohere, but provides overlap in target sectors and may compete for larger carve-out opportunities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Cohere Capital social profiles
Digital presenceCohere Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cohere Capital leadership team
Management profileNumber of profiles
Profiles9 records
Cohere Capital subsidiaries and ownership
Company hierarchySubsidiaries9 records
Cohere Capital funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cohere Capital M&A and investment
M&A and investmentM&A1 record
Investments8 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cohere Capital
What does Cohere Capital do?
Cohere Capital is a growth-focused private equity firm that invests in leading middle-market technology and tech-enabled services businesses. The firm acquires majority or influential minority positions in companies with enterprise values under $250 million and EBITDA up to $20 million, providing capital and operational expertise to support sustainable growth plans. Currently investing its second dedicated fund of $215 million.
Is Cohere Capital a public or private company?
Cohere Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Cohere Capital founded?
Cohere Capital was founded in 2019. It employs 1 to 10 people.
Where is Cohere Capital based?
Cohere Capital is headquartered in Boston, United States, in the North America region.
Who are Cohere Capital's main competitors?
Direct peers on record are H.I.G. Capital, Gauge Capital, Trinity Hunt Partners, Mountaingate Capital, Luminate Capital Partners, Mainsail Partners, Aldrich Capital Partners, Southfield Capital and Graycliff Partners. Stone Point Capital is listed as a broad incumbent.
Does Cohere Capital have an API?
No public API is recorded for Cohere Capital.