What Permanent Capital Ventures does

Permanent Capital Ventures operates as a venture capital firm under the legal entity Permanent Capital Management, LP, a privately held Registered Investment Advisor (RIA) headquartered in Illinois. The firm provides investment advisory services to clients nationally while deploying capital into early-stage technology companies, with a discernible concentration in Series A rounds into AI-native vertical software. Its disclosed portfolio includes Outmarket AI (AI platform for insurance brokerages), Mia Labs (AI conversational platform for automotive dealerships), Wisdom (AI-powered dental revenue cycle management), and Lyric (AI supply chain decision-making), demonstrating a thesis-driven approach to backing AI applications targeting specific industries rather than horizontal infrastructure.

The firm operates with a small internal team (1–10 employees) co-led by managing partner Michael Gamson. On the advisory side, the firm relies on Addepar for client portfolio reporting and ShareFile for document management, indicating an institutional or high-net-worth client base. As a Registered Investment Advisor, the firm maintains applicable state registrations and licenses and provides individualized responses per state-specific regulatory requirements. No data on assets under management, fund vintage, fund size, or LP composition is publicly disclosed in the available sources.

Revenue generation for the RIA is not publicly disclosed. Investment activity rather than fee-generation appears to be the primary publicly observable business line, with four disclosed deals executed over approximately twelve months, three of which were lead positions. The firm selects co-investors deliberately, partnering with established venture firms such as Norwest, Insight Partners, Primary Venture Partners, SignalFire, Aquiline, Juxtapose, and others, consistent with a build-out strategy for a relatively new manager.

Name

Permanent Capital Ventures

Legal name

Permanent Capital Management, LP

Website

https://permanent-capital.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

Permanent Capital Ventures is a privately held Registered Investment Advisor based in Illinois that deploys venture capital into AI-native vertical software companies, leading Series A rounds across insurance, automotive retail, dental, and supply chain industries.

Ownership category

akta.pro rank

Product category

Investment Advisory & Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

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

akta.pro primary industry

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

akta.pro secondary industries

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC), HoldCo / Permanent Capital ETA (FSANALAE)

Keywords

• Venture capital investing
• Investment advisory services
• AI startup funding
• Portfolio management
• Registered investment advisor

Headquarters

HQ city

Illinois City

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Core offering

Permanent Capital Ventures operates as a Registered Investment Advisor (RIA), providing individualized investment advisory and related services to clients nationally, including investment policy statements and portfolio management. The firm also functions as a venture capital investor, leading and participating in growth-stage (primarily Series A and Series B) funding rounds in AI- and technology-enabled companies.

Product overview

Permanent Capital Ventures is a Registered Investment Advisor (RIA) that provides investment advisory and related services to clients nationally. The firm is headquartered in Illinois and offers individualized responses to persons in particular states after complying with all regulatory requirements. The company maintains all applicable registrations and licenses as required by various states. The firm's primary business appears to be making investments in AI and technology companies, including Outmarket AI, Mia Labs, Wisdom, and Lyric.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Advisory Services

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Others

• Fika Ventures: Early-stage VC backing vertical SaaS and AI applications in insurance, financial services, and healthcare; co-invested with Permanent Capital in Outmarket AI. Directly comparable as a co-investor in the vertical-AI thesis.
• Eniac Ventures: Early-stage VC firm focused on AI infrastructure and applied AI; co-invested with Permanent Capital in Mia Labs. Comparable as a repeat co-investor in the same vertical-AI investment category.

Regional players

• Savant Wealth Management: Illinois-headquartered RIA serving individuals and families with portfolio management and financial planning services. Geographic and operating-model overlap with Permanent Capital's Illinois-based RIA practice.

Direct peers

• GenSpring Family Offices: Multi-family office serving HNW families with advisory, direct investing, and access to private-market opportunities. Comparable operating model combining bespoke wealth advisory with proprietary direct/private investment capabilities.
• BDT & MSD Partners: Chicago- and New York-based merchant bank and family investment firm operating permanent-capital structures with both proprietary direct investing and advisory services for founder/owner families. Closely mirrors Permanent Capital's stated permanent-capital model and LP structure.
• Cresset Capital Management: Chicago-based multi-family office and RIA serving HNW families with both traditional advisory and direct/private investing capabilities. Directly comparable to Permanent Capital's dual wealth advisory plus venture investment model from the same regional base.

Broad incumbents

• Mercer Advisors: National RIA providing wealth management, financial planning, and alternative/institutional manager access to HNW households. Overlaps with Permanent Capital's blended advisory plus alternative-investment delivery model.
• Mariner Wealth Advisors: Large national RIA platform that combines traditional wealth advisory with access to alternative investments and direct/private opportunities. Larger-scale analogue to Permanent Capital's combined advisory plus venture strategy.
• Creative Planning: Major national RIA offering wealth management, tax, estate, and alternative investment access to HNW clients. Comparable as a multi-service RIA where alternative and direct-invest exposure is part of the client value proposition.
• Goldman Sachs Private Wealth Management: Large incumbent offering private wealth advisory alongside Goldman Sachs Growth and broader private-market investing. A scaled analogue combining HNW advisory with active direct/private-equity investing.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/permanent-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments6 records

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

Frequently asked questions about Permanent Capital Ventures