NexPhase Capital
NexPhase Capital is a New York-based private equity firm making control equity investments of $40M-$225M in lower middle market healthcare, consumer, and software & technology companies, with $2.6B raised across five funds and 110+ investments completed.
- Company typePrivate
- Founded2007
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What NexPhase Capital does
NexPhase Capital, LP is a thematic and operationally-focused private equity firm that makes control equity investments in growth-oriented lower middle market companies across three verticals: healthcare, consumer, and software & technology. The firm invests $40 million to $225 million of equity per transaction in companies with EBITDA up to $30 million and organic growth potential of 5%-25%+, with 88% of core strategy investments entrepreneur-owned at acquisition. Founded in January 2016 by former principals of Moelis Capital Partners (whose track record dates to 2007), NexPhase is headquartered in New York and operates with 26 investment professionals and 17 senior operating executives, supported by an Executive Advisory Board with sector experts in healthcare, software, consumer services, cybersecurity, AI, and digital marketing.
The firm applies its proprietary NexPhase Value Creation Playbook across portfolio companies, focusing on scalable infrastructure investment, organic and inorganic growth acceleration, margin enhancement, and accretive add-on acquisitions. Since inception, NexPhase has completed 110+ platform and add-on investments, deployed across consumer brands (Magic Science Corporation, Tubby Todd Bath Co, Zing Zang, Popcornopolis), healthcare services (Always Best Care, Behavior Frontiers, Empower Community Care, SYNERGY HomeCare, Clearway Pain Solutions), and software/insurance technology (Insurance Systems Inc., Aztec Software, Inside Real Estate). The firm has raised approximately $2.6 billion of capital across five successive funds, with Fund V closing at $795 million in October 2023 — a 45% increase over Fund IV — and is a signatory to the UN Principles for Responsible Investment.
Revenue mechanics follow the standard PE model: management fees on committed/invested capital plus carried interest on realizations. GTM is sales-led through a dedicated business development function (led by Partner Lex Leeming), industry networks, and intermediary relationships; the firm markets to entrepreneur-owned businesses seeking a value-added partner for their "next phase" of growth and to institutional LPs for fundraising (managed by VP of Investor Relations Ariana Scotti Suiter). Customer concentration at the GP level is opaque, but the portfolio is diversified across three sectors and multiple sub-verticals.
NexPhase Capital firmographics
Firmographics- Name
- NexPhase Capital
- Legal name
- NexPhase Capital, LP
- Website
- http://www.nexphase.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- NexPhase Capital is a New York-based private equity firm making control equity investments of $40M-$225M in lower middle market healthcare, consumer, and software & technology companies, with $2.6B raised across five funds and 110+ investments completed.
- Ownership category
- akta.pro rank
NexPhase Capital industry classification
Industry- Product category
- Private Equity Investment Management
- NAICS
- Investment Banking and Securities Intermediation (523150), Portfolio Management and Investment Advice (523940), Miscellaneous Financial Investment Activities (523999)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Investors, Nec (6799), Investment Advice (6282)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
- akta.pro secondary industry
- Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)
Keywords
Where NexPhase Capital is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
NexPhase Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Management Fees: Private equity management fees typically charged on committed capital under management
- Carried Interest: Performance-based carried interest from successful fund investments and realizations
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Control or co-lead equity investments |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
NexPhase Capital product offering
Product offeringCore offering
NexPhase Capital is a thematic and operationally-focused private equity firm that makes control equity investments in lower middle market, growth-oriented companies across three verticals: healthcare, consumer, and software & technology. The firm deploys capital through successive investment funds (most recently Fund V at over $795M) and partners with management teams to drive growth, operational improvements, and add-on acquisitions.
Product overview
NexPhase Capital is a thematically driven and operationally focused lower middle-market private equity firm that makes control investments in growth-oriented and capital-efficient companies within three distinct industry verticals: healthcare, software, and consumer. Rather than offering a unified software product, the firm operates investment funds (including Fund V with over $795 million) and applies its proprietary NexPhase Value Creation Playbook methodology to partner with companies at growth inflection points. The firm targets control equity investments between $40 million and $225 million, focusing on entrepreneur-owned businesses with EBITDA up to $30 million and 5%-25%+ organic growth rates. Since inception, NexPhase has completed over 110 investments and raised approximately $2.6 billion of capital across its funds.
Differentiator
Problem solved
Functional benefit
Products and services
- NexPhase Capital Fund V NexPhase Capital's fifth private equity fund with over $795 million of capital commitments, targeting control positions in lower middle-market, growth-oriented companies in healthcare, software, and consumer sectors across North America. The fund invests equity tickets of $40MM to $150MM in companies with $4MM to $30MM EBITDA and 5%-25%+ organic growth potential.
- NexPhase Value Creation Playbook A systematic value creation methodology applied across portfolio companies, consisting of investing in scalable infrastructure, accelerating growth, enhancing profitability, and making accretive acquisitions. Applied systematically across portfolio companies to support growth and operational improvement.
Quantifiable outcome
- 88% of core strategy investments were entrepreneur-owned at acquisition
- +1 more outcomes
Companies that use NexPhase Capital
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles2 records
NexPhase Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
NexPhase Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Kirkland & Ellis LLPcoreKirkland & Ellis LLP served as global legal, tax and regulatory counsel for NexPhase Capital's Fund V closing.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
NexPhase Capital competitors and assessment
Company assessmentDirect peers
- New Mountain Capital: Growth-oriented PE firm focused on healthcare, software, and business services — comparable to NexPhase in vertical overlap and emphasis on operational value creation in mid-market companies.
- Trinity Hunt Partners: Lower middle market growth equity firm investing in healthcare, consumer, and business services — closely comparable in check size, EBITDA range, and growth-oriented thesis.
- Genstar Capital: Middle market PE firm with active software, healthcare, and consumer franchises — comparable in mid-market control investing and sector-specialist approach.
- Riverside Company: Globally active lower middle market PE investor with diversified sector exposure including healthcare, consumer, and software — directly comparable in target deal size and growth orientation.
- LLR Partners: Lower middle market PE firm investing in healthcare, technology, and services with a sector-specialist, value-add operating model — directly comparable to NexPhase in fund size, check range, and vertical focus.
- Welsh, Carson, Anderson & Stowe: Sector-focused PE firm with deep healthcare and technology franchises investing in growth-oriented companies — highly comparable vertical specialization and operating-partner-driven model.
- Kohlberg & Company: Middle market PE firm with a long-dated operating-partner model across healthcare, consumer, and industrials — comparable in lower middle market focus and value-add thesis.
Broad incumbents
- TPG Capital: Large diversified alternative asset manager with healthcare, consumer, and software franchises — broader scale and strategy but overlapping verticals with NexPhase.
- Bain Capital: Global private investment firm with dedicated healthcare, consumer, and technology verticals — broad incumbent with a comparable sector-specialist investment approach at larger scale.
Emerging players
- Periscope Equity: Lower middle market PE firm investing in tech-enabled services and software — overlaps with NexPhase's Software & Technology vertical, particularly B2B SaaS and services platforms.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
NexPhase Capital social profiles
Digital presenceNexPhase Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
NexPhase Capital leadership team
Management profileNumber of profiles
Profiles14 records
NexPhase Capital funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NexPhase Capital M&A and investment
M&A and investmentM&A11 records
Investments15 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NexPhase Capital
What does NexPhase Capital do?
NexPhase Capital is a thematic and operationally-focused private equity firm that makes control equity investments in lower middle market, growth-oriented companies across three verticals: healthcare, consumer, and software & technology. The firm deploys capital through successive investment funds (most recently Fund V at over $795M) and partners with management teams to drive growth, operational improvements, and add-on acquisitions.
Is NexPhase Capital a public or private company?
NexPhase Capital is a private company. It is classified as management employee owned and is currently operating.
When was NexPhase Capital founded?
NexPhase Capital was founded in 2007. It employs 11 to 50 people.
Where is NexPhase Capital based?
NexPhase Capital is headquartered in New York, United States, in the North America region.
How does NexPhase Capital make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are NexPhase Capital's main competitors?
Direct peers on record are New Mountain Capital, Trinity Hunt Partners, Genstar Capital, Riverside Company, LLR Partners, Welsh, Carson, Anderson & Stowe and Kohlberg & Company. Broad incumbents are TPG Capital and Bain Capital. Periscope Equity is listed as an emerging player.
Does NexPhase Capital have an API?
No public API is recorded for NexPhase Capital.
What industry is NexPhase Capital in?
NexPhase Capital's product category is Private Equity Investment Management. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists), with a secondary code of FSANAHAN, Corporate Strategic Real Assets & Infrastructure Venture Investing. Its NAICS code is 523150 and its SIC code is 6211.