Cogenuity Partners.

What Cogenuity Partners. does

Cogenuity Partners is a San Francisco-based lower middle market private equity firm founded in 2024 by Dan Delaney, focused exclusively on the advanced industrial economy. The firm invests in North American companies with up to $250M in revenue and $5–35M in EBITDA, deploying equity checks of $5–200M per platform across four verticals: Advanced Manufacturing, Infrastructure Solutions, Industrial Technology, and Critical Industrial Services. Cogenuity differentiates itself through the Collaborative Operations (CoOp) Program, a hands-on operating model that embeds functional expertise (finance, operations, HR, technology) with portfolio management teams from day one, positioning the firm as an operator-led partner rather than a traditional financial buyer.

The firm closed its inaugural fund, Cogenuity Fund I LP, at $425 million in January 2025 after a five-month raise, attracting endowments, foundations, insurance companies, family offices, and funds-of-funds. Since Fund I close, Cogenuity has executed four platform acquisitions: United Safety & Survivability Corporation (2024, fire detection/suppression), Tech Tube and Tube Methods (July 2025, precision metallic tubing), EverLine (August 2025, infrastructure compliance and cybersecurity services), and Interconnect Solutions Company (September 2025, custom interconnect solutions). Portfolio companies have additionally executed cross-border add-on acquisitions (Dafo Vehicle in Sweden, Reacton in the UK).

Cogenuity's revenue model is typical of private equity: recurring management fees on Fund I's $425M in committed capital, plus future carried interest upon successful portfolio exits. The firm employs approximately 17 investment, operating, and support professionals, sourced from leading industrial operators (Danaher, Honeywell, GE, Pentair, Ingersoll Rand) and established PE platforms (Industrial Growth Partners, One Equity Partners, Pantheon, Altamont Capital). Distribution and deal sourcing rely on a dedicated business development team, intermediary relationships, and a thought leadership platform (Collaborative Insights white paper series).

Name

Cogenuity Partners.

Legal name

Cogenuity Partners, LLC

Website

https://cogenuity.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

Cogenuity Partners is a San Francisco-based lower middle market private equity firm founded in 2024 that invests in advanced industrial businesses across manufacturing, infrastructure, and industrial services through its $425M debut fund and a hands-on Collaborative Operations (CoOp) Program.

Ownership category

akta.pro rank

Product category

Lower Middle Market Private Equity

NAICS

Other Financial Vehicles (52599), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Co-Investment / Direct Allocation Platforms (alongside FoF) (FSANAGAK)

akta.pro secondary industries

Secondaries Co-Investments & Annex Funds (FSANAFAF), Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)

Keywords

• Lower middle market private equity
• Industrial sector investments
• Operational value creation
• Platform acquisitions
• Advanced manufacturing investing

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Fund Management — Management Fees: Cogenuity earns recurring management fees on its debut fund (Cogenuity Fund I, $425 million), typically assessed as a percentage of committed capital under management.
2. Fund Management — Carried Interest: The firm earns carried interest (performance-based share of fund profits) upon successful exits of portfolio companies, aligning the team's incentives with fund investors.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Cogenuity Partners is a private equity firm that invests equity capital of $5–$200 million per platform into lower middle market companies (up to $250M revenue, $5–35M EBITDA) operating in the advanced industrial economy. Its flagship vehicle is Cogenuity Fund I, a $425 million closed-end fund, and it differentiates through its Collaborative Operations (CoOp) Program, which embeds hands-on operational, strategic, and functional expertise alongside capital deployment in each portfolio company.

Product overview

Cogenuity Partners is a next-generation lower middle market private equity firm offering a collaborative capital approach through its core service, the Collaborative Operations (CoOp) Program, which integrates hands-on operational support with strategic capital deployment. The firm's flagship offering is Cogenuity Fund I, a $425 million investment vehicle focused on critical businesses within the advanced industrial economy. The CoOp Program supports portfolio companies across four investment verticals: Advanced Manufacturing (including aerospace & defense components, medical devices, and specialty materials), Infrastructure Solutions (data center, energy, transportation, water), Industrial Technology (automation, sensors, software-enabled products), and Critical Industrial Services (environmental, field services, testing and inspection). Cogenuity's portfolio includes United Safety & Survivability Corporation (fire suppression and safety systems), Tech Tube and Tube Methods (precision metallic tubing), EverLine (infrastructure compliance and cybersecurity services), and Interconnect Solutions Company (interconnect solutions for harsh environments). The firm also produces Collaborative Insights, a thought leadership series of white papers covering sector-specific perspectives.

Differentiator

Problem solved

Functional benefit

Products and services

• Cogenuity Fund I Cogenuity's flagship $425 million closed-end private equity fund focused on acquiring controlling equity stakes of $5–$200 million in lower middle market industrial businesses with up to $250M in revenue and $5–35M EBITDA, across four verticals: Advanced Manufacturing, Infrastructure Solutions, Industrial Technology, and Critical Industrial Services. Offered to institutional investors.
• Collaborative Operations (CoOp) Program Cogenuity's core operational support service offered to portfolio companies, providing hands-on strategic guidance, functional business experience across finance, operations, HR, and technology, customized growth plans, and add-on acquisition support from the first day of partnership.

Quantifiable outcome

• Closed debut fund of $425 million in approximately five months, attracting blue-chip LP investors including endowments, foundations, insurers, and family offices
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and major.

• Troutman Pepper LockecoreOthers · 1 July 2025Troutman Pepper Locke served as legal counsel for Tech Tube and Tube Methods in connection with Cogenuity's acquisition of both companies.
• Kirkland & EllismajorOthers · 30 January 2025Kirkland & Ellis LLP served as legal counsel to Cogenuity for the fund formation and has continued as legal advisor across multiple portfolio acquisitions including Tech Tube, Tube Methods, ISC, and EverLine.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Arcline Investment Management: Middle market PE firm focused on niche, market-leading industrial and specialty businesses. Operating Principal Brian Rappl joined Cogenuity from Arcline, reflecting directly overlapping investment style and target verticals.
• One Equity Partners: Middle market PE firm investing in industrial, healthcare, and financial services. Managing Partner Brett Johnson previously worked at One Equity, and the firm shares a similar lower middle market industrial buyout mandate.
• Altamont Capital Partners: Middle market PE firm focused on industrial, consumer, and business services. Principal Rebecca Kolde joined Cogenuity from Altamont, and the firm pursues similar lower middle market control investments.
• Warren Equity Partners: Lower middle market PE firm focused on industrial, infrastructure, and services businesses. Managing Director Michael Ouyang came from Warren Equity, indicating direct overlap in sourcing universe and investment size.
• Industrial Growth Partners: Lower middle market PE firm focused exclusively on industrial growth and buyout opportunities. Cogenuity's Brett Johnson and Sam Adler both came from IGP, making it the closest lineage and strategy peer.
• Wynnchurch Capital: Middle market PE firm investing in U.S. and Canadian industrial businesses, often with operational improvement theses. Operating Partner Bob Linscott previously worked at Wynnchurch, and the firm shares Cogenuity's value-creation playbook.
• Huron Capital: Lower middle market PE firm executing control buyouts of industrial and consumer businesses. Michael Ouyang's prior tenure provides strong lineage overlap with Cogenuity's industrial buyout strategy.
• Neos Partners: Lower middle market PE firm focused on industrial and business services investments. Michael Ouyang and Morgan McCord both came from Neos, making it a direct strategy peer.

Broad incumbents

• TPG: Global alternative asset manager whose TPG Twin Brook arm has provided debt financing for multiple Cogenuity platform deals. While much larger and broader in mandate, TPG is a counterparty that directly funds Cogenuity's acquisitions.
• Brookfield Asset Management: Global alternative asset manager with significant industrial and infrastructure exposure. Serves as a competitive capital pool in the broader industrial PE/credit market where Cogenuity raises LP capital and sources deals.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cogenuity-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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

M&A4 records

Investments

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

Frequently asked questions about Cogenuity Partners.