ROTH Capital Partners

What ROTH Capital Partners does

ROTH Capital Partners is a privately held, full-service investment bank focused on small- and mid-cap public companies, founded in 1992 and headquartered in Newport Beach, California, with additional offices including New York and Toronto (via Roth Canada). The firm operates across ten sector verticals and provides investment banking services (M&A, IPOs, follow-on offerings, registered directs, PIPEs, ATMs, convertibles, and private placements), equity research coverage, institutional sales and trading, derivatives, corporate and executive services, corporate-access conferences, a Quantitative Survey Group (QSG) for primary issuer-investor research, and a strategy team. ROTH also runs a flagship annual conference platform — the 38th Annual Roth Conference in 2026 and the 16th Annual London Conference in 2026 — recognized as a Top 100 industry event for six consecutive years.

The firm monetizes across multiple fee streams: investment banking success fees, institutional brokerage commissions, equity research and corporate-access subscriptions, conference sponsorship and attendance fees, derivatives income, and corporate/executive services. The 2023 acquisition of MKM Partners materially expanded the firm's research, sales, and trading platform. More recently, ROTH has extended its offering beyond fee-based advisory into balance-sheet capital deployment: the RoHo Capital Opportunity Fund, a roughly $100M joint venture with Horizon Technology Finance targeting small/micro-cap growth capital, and Roth Principal Investments, anchored by a $2B committed equity-financing relationship with RoboStrategy.

ROTH's competitive position rests on a 30-plus-year franchise, dense small/mid-cap issuer and institutional-investor relationships, senior banker talent drawn from bulge-bracket firms (Goldman Sachs, JPMorgan, Bank of America, Wells Fargo), and a recurring conference and primary-research distribution engine. Reported cumulative client capital raises exceed $100 billion across the firm's history, with senior leadership individually associated with 1,000+ public offerings. Customer concentration risk is moderate given the breadth of issuers and investors served, though transaction-fee revenue remains inherently lumpy.

Name

ROTH Capital Partners

Legal name

Roth Capital Partners, LLC

Website

https://roth.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

251–500 employees

Short description

ROTH Capital Partners is a privately held, full-service investment bank focused on small- and mid-cap public companies, providing investment banking, equity research, institutional sales and trading, derivatives, corporate services, and conferences across ten sector verticals. Founded 1992, headquartered in Newport Beach, California.

Ownership category

akta.pro rank

Headquarters

HQ city

Newport Beach

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Investment Banking Fees: Advisory and underwriting fees from M&A (buy-side, sell-side, fairness opinions, special committee work), IPOs, follow-on offerings, registered directs, PIPEs, convertible notes, ATM programs, private placements, and debt financings for small- and mid-cap public companies; managed by Co-CEO & Head of Investment Banking Aaron M. Gurewitz with sector MDs.
2. Institutional Sales, Trading & Equity Capital Markets Commissions: Commission and principal-trading revenue from equity sales, equity trading (Head: Matthew Casamassima), sales trading, derivatives (Head: Alex Panagiotidis) and equity capital markets transactions, routed to institutional accounts and cleared via BofA Securities.
3. Asset Management & Investment Vehicle Revenues: Revenue from affiliated long-only asset managers (Cortina Asset Management, since acquired by Silvercrest Asset Management; EAM Investors LLC) and from co-founded private investment firms (Rx3 Ventures LP, RIVI Capital LLC, Aceras Life Sciences LLC), plus the RoHo Capital Opportunity Fund joint venture with Horizon Technology Finance that provides growth-capital debt financing to small/micro-cap public companies.
4. Corporate & Executive Services: Recurring fee revenue from Corporate & Executive Services (led by John Weber since 1995) covering restricted-stock transactions, option exercises, 10b5-1 buyback programs, and asset management for corporate clients and executives.
5. Conference, Sponsorship & Research Distribution Revenues: Revenue from hosting the Annual Roth Conference and 16th Annual London Conference (corporate access, sponsor fees), from research distribution to institutional investors, and from sales commentary and trading-desk institutional services.

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Marketing channels9 records

Core offering

ROTH Capital Partners is a relationship-driven, full-service investment bank that provides strategic and financial advisory services to growth companies and their investors. Its core offerings span M&A advisory (buy-side, sell-side, fairness opinions, special-committee work), equity capital markets (IPOs, follow-ons, registered directs, PIPEs, convertibles, ATM programs, private placements), institutional equity research, sales and trading, derivatives, Corporate & Executive Services, and proprietary primary research through its Quantitative Survey Group, all organized across 10 sector verticals including Healthcare, Technology & Media, Energy, Consumer, Business Services, Metals & Mining, Industrial Growth, Sustainability, Agribusiness, and Digital Assets/Infrastructure/Blockchain.

Product overview

ROTH Capital Partners is a single, full-service investment banking platform rather than a modular SaaS product, organized into ten inter-related service departments (Investment Banking, Research, Strategy Team, Institutional Sales, Trading, Derivatives, Corporate & Executive Services, Corporate Access & Conferences, Capital Markets/Equity Capital Markets, and Quantitative Survey Group) supported by an industry-sector matrix spanning Agribusiness, Business Services, Consumer, Digital Assets/Infrastructure/Blockchain, Energy, Healthcare, Industrial Growth, Metals & Mining, Sustainability, and Technology & Media. The core Investment Banking offering is delivered through dedicated vertical teams (Consumer, Healthcare, Technology, Business Services, Energy, Metals & Minerals, Sustainability, Innovations) and includes M&A advisory, IPOs, follow-ons, and private placements, while the specialized ATM & Equity Alternatives Banking module (led by Seth Appel) extends the capital markets offering with at-the-market programs, registered directs, and PIPEs. The Equity Capital Markets team, led by Co-CEO Aaron M. Gurewitz, anchors the public-offerings execution capability (over 1,000 public offerings since 1999), while the research and Strategy Team departments (including Chief Economist Michael Darda and Chief Technical Strategist JC O'Hara) provide institutional research across all coverage sectors. The Quantitative Survey Group (acquired via the 2023 MKM Partners acquisition, led by Wendy Farina) provides proprietary primary research, and the RoHo Capital Opportunities Fund joint venture (with Horizon Technology Finance) extends the firm's debt-financing reach to small- and micro-cap public companies. The Corporate Access & Conferences arm operates flagship investor events including the 38th Annual ROTH Conference and 16th Annual London Conference, while the Canadian affiliate Roth Canada, Inc. delivers investment banking services in Canada.

Differentiator

Problem solved

Functional benefit

Brands

• ROTH Conferences: The firm's annual investor conference series (e.g., 38th Annual Roth Conference, 16th Annual London Conference) ranked in the "Top 100 Events" in the U.S. for six consecutive years.
• CR Financial Holdings, Inc.

Products and services

• Investment Banking Provides growth companies with access to capital markets and a wide variety of financial advisory services across M&A, IPOs, follow-ons, ATMs, and private placements, organized into industry-focused vertical teams (Healthcare, Consumer, Technology, Energy, Business Services, Metals & Mining, Industrial Growth, Sustainability, Agribusiness, and Innovations).
• Equity Research Sell-side equity research coverage spanning multiple sectors including Cleantech, Consumer, Healthcare/Biotech, Energy, Industrial Growth, Metals & Mining, Semiconductors, Software, Sustainability, and Technology & Media, with multiple senior analysts recognized by Wall Street Journal, Forbes/StarMine, Institutional Investor All-American, and TipRanks for stock-picking and earnings-estimation accuracy.
• Strategy Team Provides economic and technical market analysis led by Chief Economist and Macrostrategist Michael Darda and Chief Technical Strategist JC O'Hara, fusing economic and business-cycle research with market-based timing strategy for institutional clients.
• Institutional Sales Institutional equity sales coverage across U.S. offices (Newport Beach, New York, Stamford, Boston, Chicago, Miami) led by Managing Director, Head of Institutional Sales Rebecca Reeves, with a team of Executive Directors and sales professionals covering institutional accounts nationwide.
• Trading Equity trading desk led by Head of Equity Trading Matthew Casamassima, with additional sales trading, event-driven trading, and risk-arbitrage trading functions; provides event-driven sales trading and equity trading for institutional clients.
• Derivatives Equity derivatives trading and sales trading services for institutional clients, led by Head of Derivatives Alex Panagiotidis, with experienced derivatives sales traders covering equity derivatives and special situations.
• Corporate & Executive Services Provides restricted stock transactions, option exercises, buyback programs, and asset management for corporate clients, led by Managing Director John Weber (Partner of ROTH) who has been with the firm since 1995.
• Corporate Access & Conferences Investor conference services including the flagship 38th Annual ROTH Conference (March 2026, The Ritz-Carlton, Dana Point), the 16th Annual London Conference (June 2026, Four Seasons London Park Lane), and a UN Drone Technology in Global Development event, ranked in the "Top 100 Events" in the U.S. for six consecutive years.
• Equity Capital Markets Equity capital markets activities including IPOs, follow-on offerings, registered directs, and PIPEs, led by Head of Equity Capital Markets Aaron M. Gurewitz (also Co-CEO), with more than 1,000 public offerings managed since 1999.
• ATM & Equity Alternatives Banking At-the-market (ATM) and equity alternatives capital-raising service led by Seth Appel, helping growth companies raise capital efficiently through ATMs, PIPEs, registered directs, and other equity alternatives, linked to the RoHo Capital Opportunity Fund joint venture.
• Quantitative Survey Group (QSG) Proprietary primary research and quantitative survey service led by Managing Director Wendy Farina, providing high-quality, actionable market research with focus on consumer and technology businesses; integrated into ROTH through the 2023 MKM Partners acquisition.
• RoHo Capital Opportunities Fund (Joint Venture) Joint venture between Horizon Technology Finance (NASDAQ: HRZN) and CR Financial Holdings (Roth Capital's holding company) to provide growth-capital debt financing to small- and micro-cap public companies in the U.S., initially committed $100 million and supported by Monroe Capital, with typical investment sizes of $5–$25 million.
• Roth Canada, Inc. (Canadian Affiliate) Canadian affiliate of Roth Capital Partners, LLC, led by CEO Ted Roth, providing investment banking services in Canada including debt advisory (e.g., co-lead debt advisor to Quarterhill Inc. on its US$60 million credit facility).
• Event-Driven & Risk-Arbitrage Sales Trading Dedicated event-driven/risk-arbitrage sales trading desk (Sal Miciotta, Michael Lesser) that combines institutional derivatives execution with special-situations intelligence for clients.
• M&A Advisory Buy-side, sell-side, fairness-opinion, and special-committee M&A advisory for small- and mid-cap public companies, led by Head of M&A Alex Stoyanov with sector-verticalized Managing Directors.

Quantifiable outcome

• $100+ billion raised for small-cap companies under Byron Roth's leadership (since 1992)
• +4 more outcomes

Named customers23 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered frequent co-placement agent, co-bookrunner on ipo syndicate, joint bookrunner on ipo syndicate, adjunct event partner, adjunct event collaborator, co-financial advisor on spac business combination, frequent co-underwriter, frequent co-manager, recurring marketing partner, strategic flagship jv and adjunct advisory affiliate.

• H.C. Wainwright & Co.frequent co-placement agentChannel Partner/ Reseller/ Distributor · 24 June 2026Co-placement agent with Roth Capital on multiple registered direct offerings and PIPE financings (e.g., TOYO $50M registered direct offering June 2026; Avalon GloboCare $3.25M private placement February 2026).
• Bancroft Capital and MDB Capital Groupco-bookrunner on ipo syndicateChannel Partner/ Reseller/ Distributor · 12 June 2026Roth Capital joined Bancroft Capital and MDB Capital Group as joint bookrunners on Ticketplus Ltd.'s planned $25M US IPO on Nasdaq (Ticker: TP), targeting a $13–$15 per share price range for a fully diluted market value of $174M at the midpoint.
• The Benchmark Company, LLCjoint bookrunner on ipo syndicateChannel Partner/ Reseller/ Distributor · 10 June 2026Roth Capital and The Benchmark Company serve as joint bookrunners on MetaOptics Ltd.'s planned $18M US IPO on Nasdaq (Ticker: MOT), representing a 25% cut in ADS offering and a 45% decrease in anticipated proceeds from the earlier filing.
• Lowenstein Sandleradjunct event partnerGTM or Marketing Partner · 8 June 2026Lowenstein Sandler led a breakfast briefing on proposed SEC rule changes at ROTH's 16th Annual London Conference (June 16–18, 2026 at Four Seasons Hotel London at Park Lane), complementing presentations by ARK Invest Founder/CEO Cathie Wood, ROTH Chief Economist Michael Darda, and ROTH Chief Technical Strategist JC O'Hara.
• NGO Sustainability and the Permanent Mission of Ukraine to the United Nationsadjunct event collaboratorGTM or Marketing Partner · 3 June 2026ROTH presented its "Drone Technology in Global Development" event at the United Nations in New York City in collaboration with NGO Sustainability and the Permanent Mission of Ukraine to the United Nations, bringing together diplomatic representatives, investors, and companies across the drone ecosystem. Featured companies such as Exyn Technologies highlighted autonomous robotics and AI capabilities, including ExynAI for navigating and mapping complex GPS-denied environments.
• Park Avenue Capital Group Corp. and Cantor Fitzgeraldco-financial advisor on spac business combinationImplementation/ SI/ Consulting Partner · 2 June 2026Park Avenue Capital Group Corp. and Roth Capital Partners serve as financial advisors to Electra AI in the $250M+ business combination with Iron Horse Acquisition II Corp. (NASDAQ: AIBR) to form the first publicly traded pure-play AI Battery Intelligence company; Cantor Fitzgerald acted as underwriter to Iron Horse's IPO, with Latham & Watkins and Loeb & Loeb serving as legal counsel.
• Cantor Fitzgerald & Co.frequent co-underwriterChannel Partner/ Reseller/ Distributor · 22 April 2026Cantor Fitzgerald and Needham & Company and Canaccord Genuity co-managed with Roth Capital the upsized Elmet Group IPO (April 2026) on Nasdaq, raising $120M at $14 per share; Cantor served as lead book-running manager. The firms also co-managed follow-on equity offerings together (e.g., other 2026 transactions).
• Needham & Company and Canaccord Genuityfrequent co-underwriterChannel Partner/ Reseller/ Distributor · 22 April 2026Joint book-running managers alongside Roth Capital on multiple offerings (e.g., Elmet Group IPO April 2026; Ambiq upsized public offering June 2026). The group functions as a recurring small-cap IPO and follow-on syndicate.
• Maxim Group LLCfrequent co-managerChannel Partner/ Reseller/ Distributor · 21 April 2026Maxim served as sole book-running manager and Roth Capital as co-manager on SBC Medical Group's $10.1M secondary public offering (April 2026) at $3.25 per share; relationship is recurring on secondary offerings.
• IBN (InvestorBrandNetwork)recurring marketing partnerGTM or Marketing Partner · 20 March 2026IBN is a marketing sponsor for ROTH's flagship investor conferences, including the 38th Annual Roth Conference (March 22–24, 2026 at The Ritz-Carlton, Dana Point) and the 16th Annual London Conference (June 16–18, 2026). IBN provides corporate communications solutions and uses its InvestorWire brand to distribute real-time conference coverage across its network of digital publishers and social media channels, including approximately 500 one-on-one and small-group meetings between public/private company executives and institutional investors.
• Horizon Technology Finance Corporation (CR Financial Holdings / Roth)strategic flagship jvStrategic or Co-development Partner · 19 March 2026Formed a new $100 million joint venture (RoHo Capital Opportunity Fund LLC) in Farmington, Connecticut, between Horizon Technology Finance (NASDAQ: HRZN) and CR Financial Holdings (the holding company for Roth Capital Partners), initially committing $100 million supported by Monroe Capital. The fund targets growth-capital debt financing for small- and micro-cap public companies, primarily in the U.S., with typical investment sizes of $5–25 million. Seth Appel (Head of ATM & Equity Alternatives Banking at ROTH) also serves as Co-Chief Investment Officer of the fund, integrating ROTH's origination engine with Horizon's specialty finance platform.
• Donohoe Advisory Associates LLC (David Donohoe Jr.)adjunct advisory affiliateImplementation/ SI/ Consulting Partner · 1 January 2026David Donohoe, Jr. (MD, Investment Banking at ROTH) is also President of Donohoe Advisory Associates LLC, which advises companies on stock exchange listing matters and has represented over 300 companies in listing proceedings before Nasdaq, AMEX, and NYSE, providing ROTH clients with stock-listing and corporate-governance advisory services.

Scale indicators17 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ThinkEquity (a division of Aegis Capital): Small-cap investment banking division with comparable IPO, follow-on, and PIPE capabilities; operates in the same deal universe as ROTH and frequently appears as co-manager on small-cap offerings.
• EF Hutton: Full-service investment bank focused on small/mid-cap public companies with comparable service offering (investment banking, institutional sales, trading, research); prior employer of James Antonopoulos before he joined ROTH in 2023 to head Healthcare IB.
• The Benchmark Company: Privately held, full-service small/mid-cap investment bank and broker-dealer offering investment banking, institutional sales, trading, and equity research — a direct competitor to ROTH in small-cap IPOs, follow-ons, and ATM transactions (e.g., recent joint bookrunner roles alongside ROTH).
• H.C. Wainwright & Co. Full-service investment bank focused on small-cap and micro-cap healthcare, technology, and life-sciences issuers; frequently co-placement agent with ROTH on registered directs and PIPEs (e.g., TOYO $50M, Avalon GloboCare $3.25M) — directly comparable in deal type and sector focus.
• Maxim Group: Small-cap focused investment bank with similar deal profile to ROTH (IPOs, follow-ons, ATMs), frequently co-manager with ROTH on secondary offerings (e.g., SBC Medical $10.1M secondary April 2026) and operates a comparable equity research and institutional sales platform.

Broad incumbents

• Stifel Financial Corp. Large diversified mid-market investment bank with deep small/mid-cap equity research, institutional sales, and investment banking capabilities; comparable in research franchise depth (employer of many ROTH alumni such as Adam Walsh) but materially larger and publicly traded.
• Needham & Company: Established small/mid-cap growth investment bank with deep technology, healthcare, and consumer coverage; recurring co-bookrunner with ROTH (Elmet Group IPO, Ambiq offering) — comparable in target issuer size but with a larger overall platform.
• B. Riley Financial: Diversified financial services firm with full-service investment banking, research, institutional sales, and trading focused on small/mid-cap issuers; comparable client base and service offering though broader in wealth management and asset management.
• Canaccord Genuity: Global mid-market investment bank with strong small-cap coverage; recurring co-bookrunner with ROTH on small/mid-cap offerings (e.g., Elmet Group IPO, Brazil Potash $55M); comparable in deal type and client size, with broader international footprint.
• Cantor Fitzgerald & Co. Larger diversified financial services firm frequently serving as lead bookrunner alongside ROTH as co-manager on small/mid-cap offerings (e.g., Elmet Group $120M IPO, Iron Horse Acquisition II SPAC) — comparable in deal type but materially larger in scale and balance sheet.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/rothcapital

Compliance14 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles30 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments48 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ROTH Capital Partners