Beringer Capital

What Beringer Capital does

Beringer Capital is a Toronto-headquartered private equity firm founded in 2002 that operates as a lower mid-market buyout investor focused on digital transformation across data, digital media, commerce, and technology-enabled services. The firm targets control equity investments of $20-100M in companies with $5-25M of EBITDA and 20%+ margins, and operates from offices in Toronto and New York with a team of 20+ professionals reporting 100+ years of collective investing experience.

The firm invests through sequential institutional private equity funds and currently manages approximately $955M of assets under management across four vehicles, with Fund III closed at approximately $475M in 2024. Active and recent portfolio companies span AI-enabled customer acquisition (Perform[cb]), AI-driven consumer insights (Dig Insights and its Upsiide SaaS platform), donor science and predictive analytics (VeraData), digital commerce and customer experience consulting (Northern Commerce, Bold Orange), and digital media assets (Benzinga, Inman, Adweek). Several portfolio platforms have been extended through add-on acquisitions, including OneCliq, Ebco Trends, and Ignite 360.

The business model is a standard private equity fund structure: management fees charged on committed and/or invested capital across funds, supplemented by carried interest on realized returns. Realized exits to date include Blue Acorn iCi (sold to Infosys for $125M), Adweek (sold to Shamrock), and Hypergiant (sold to Trive), which generate track-record intangible capital and contribute to episodic carried-interest revenue alongside ongoing fee income.

Name

Beringer Capital

Legal name

Beringer Capital

Website

https://beringercapital.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Beringer Capital is a Toronto-based lower mid-market private equity firm founded in 2002 that invests $20-100M control stakes in $5-25M EBITDA digital transformation, data, media, and commerce companies across North America, managing approximately $955M AUM.

Ownership category

akta.pro rank

Product category

Private Equity

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599)

SIC

Investment Advice (6282)

akta.pro primary industry

Business Services (B2B) Growth Equity (FSANACAD)

akta.pro secondary industry

Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Private equity investments
• Lower mid-market buyouts
• Digital transformation investing
• Institutional fund management
• Founder-led business partnerships

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: Private equity fund management fees typically charged on committed capital under management
2. Carried Interest: Performance-based carried interest from successful fund investments and realizations

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Beringer Capital is a North American private equity buyout firm that partners with founders of growing businesses to maximize enterprise value through control equity investments (typically $20-100M) in tech-enabled services, data- and information-led enterprises, and B2B solutions. The firm manages three institutional private equity funds totaling over $885 million in committed capital, applying active operational partnership, proprietary playbooks, and a digital-first value creation lens across its portfolio of acquired companies.

Product overview

Beringer Capital is a North American lower mid-market private equity buyout firm focused on digital transformation, operating across three investment funds totaling over $885 million. The firm's portfolio spans tech-enabled services, data- and information-led enterprises, and traditional business solutions. Key portfolio products include Perform[cb], an AI-powered outcome-based customer acquisition platform; Dig Insights' Upsiide, an AI-driven SaaS consumer insights platform; VeraData's Donor Science framework leveraging predictive modeling for nonprofits; Benzinga Pro financial media terminal with APIs; and Northern Commerce's digital transformation consulting services. Additional holdings include Bold Orange (customer experience), Inman (real estate media), Blue Acorn iCi (digital commerce, acquired by Infosys), Hyper Giant (defense AI, acquired by Trive Capital), and Adweek (B2B media, sold to Shamrock Capital).

Differentiator

Problem solved

Functional benefit

Products and services

• Institutional Private Equity Funds Beringer's institutional private equity funds deploy $20-100M control equity investments into founder-led North American lower mid-market companies (target: $5-25M EBITDA, 20%+ EBITDA margins, 75%+ free cash flow, capable of 20%+ revenue growth) with up to 49% founder equity roll permitted.
• Perform[cb] AI-powered, outcome-based customer acquisition platform that enables enterprise brands to achieve tangible, high-quality results that maximize ROAS. Brands pay only when desired outcomes (purchases, installs, form completions) are achieved across 26+ digital channels including mobile, social, display, and pay per call.
• Upsiide Proprietary AI-driven SaaS platform that enables consumer insights and market research, supporting brands throughout the innovation lifecycle with patented analytics and predictive data modeling. Used by blue-chip global enterprises across CPG, retail, technology, financial services, healthcare, and sports & entertainment.
• VeraData Donor Science Framework Proprietary AI, machine learning, and predictive modeling framework that generates deep, actionable insights enabling donor acquisition, retention, and campaign optimization for 400+ nonprofit organizations across humanitarian aid, animal welfare, veteran services, and health research sectors.
• Benzinga Pro Institutional-grade market intelligence terminal delivering real-time news, market analysis, and actionable trading ideas at a fraction of the cost of traditional terminals. Targeted at individual investors and brokerages.
• Benzinga APIs APIs and analytics services that integrate directly into brokerage platforms, providing financial data feeds and market intelligence for next-generation investors and trading platforms.
• Inman Connect Flagship conference series bringing together residential real estate agents, brokers, tech leaders, and executives to share insights, network, and explore property technology innovations.
• Digital Transformation Consulting End-to-end digital transformation consulting services implementing solutions on platforms like Adobe, Salesforce, Acquia, BigCommerce, Shopify, Google, and Drupal. Offered by Northern Commerce, headquartered in London, Ontario.
• Customer Experience Services Customer experience services combining strategic insight, creative expertise, and leading data/marketing technology platforms (Salesforce, Snowflake, Databricks, Braze, Movable Ink) to build personalized customer experiences at scale.

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability12 records

Feature4 records

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Onex Partners: Onex is a Toronto-based large-cap PE firm with diversified sector exposure. As a much larger Canadian-headquartered alternative asset manager, Onex represents the broader incumbent category against which Beringer's specialized lower mid-market model competes for talent and LP capital.

Direct peers

• Gauge Capital: Gauge Capital is a lower mid-market PE firm focused on tech-enabled services, healthcare, and business solutions with similar EBITDA and check-size parameters to Beringer. Both firms apply sector-specialist playbooks to founder-led businesses at the forefront of digital transformation.
• Trive Capital: Trive Capital is a Dallas-based PE firm focused on lower mid-market control buyouts in business services and industrial sectors. Trive notably acquired Hyper Giant (a former Beringer portfolio company) in 2023, demonstrating overlap in deal sourcing and sector focus.
• L Squared Capital Partners: L Squared Capital Partners is a lower mid-market PE firm focused on tech-enabled services and B2B software with partnership-driven investing. Their check size and target company profile closely mirror Beringer's investment parameters.
• Frontier Capital: Frontier Capital is a lower mid-market PE firm exclusively focused on tech-enabled business services with control equity investments in companies with $5-25M EBITDA. Beringer and Frontier share nearly identical target investment parameters and sector focus.
• Boathouse Capital: Boathouse Capital is a lower mid-market PE firm investing in tech-enabled business services with control equity investments. Their sector focus and partnership-driven value creation approach are directly comparable to Beringer's model.
• Trinity Hunt Partners: Trinity Hunt Partners is a lower mid-market growth-oriented PE firm focused on founder-led business services and tech-enabled companies. Their partnership-driven approach and check size overlap directly with Beringer's investment parameters.

Regional players

• TorQuest Partners: TorQuest Partners is a leading Canadian mid-market PE firm investing in business services and consumer companies. Like Beringer, TorQuest is Toronto-based and focuses on founder-led businesses in the lower mid-market, making it the most directly comparable Canadian peer.
• Yaletown Partners: Yaletown Partners is a Vancouver-based growth-stage technology investor focused on B2B SaaS, AI, and digital transformation companies. While smaller in AUM, Yaletown competes with Beringer in the Canadian tech-enabled services investment landscape.

Others

• Shamrock Capital: Shamrock Capital is a Los Angeles-based investment firm focused on media, content, and technology. As the acquirer of Adweek from Beringer in 2020, Shamrock operates as both an adjacent investor and exit counterparty in the digital media segment Beringer targets.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/beringercapital
• Facebookfacebook.com/beringercapital
• LinkedInlinkedin.com/company/beringer-capital
• Instagraminstagram.com/beringercapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A9 records

Investments2 records

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

Frequently asked questions about Beringer Capital