Karmel Capital

What Karmel Capital does

Karmel Capital Management LLC is a privately held, SEC-registered investment adviser (CRD 307701) founded in 2013 and headquartered in Solana Beach, California, operating a private equity platform dedicated to high-growth, late-stage enterprise technology companies. The firm is co-founded and led by Managing Partners James Brailean (PhD) and Scott Neuberger, supported by Partners Christian Buckley and Antolin Garza, Principals Jay Jamijian and Kevin Dobies, a dedicated Principal Data Scientist (Alex Banham), and a small investment operations and investor relations team (1–10 employees total). As of 2026, Karmel reports approximately $450 million in assets under management across 41 portfolio company investments, with a stated specialization in capital-efficient enterprise technology and a thematic emphasis on AI infrastructure.

Karmel pursues three interconnected investment strategies—Primary Investments, Secondary Investments (direct and venture secondaries), and Co-Investments in late-stage pre-IPO companies—using a data-driven sourcing approach. Its newest vehicle is an approximately $170 million AI-Focused Opportunity Fund closed in February 2026, with 52% of commitments already deployed into AI infrastructure and related software applications across US and international markets. The firm does not build or sell technology products; its "technology" is the proprietary data, sourcing relationships, and investment infrastructure used to evaluate and execute deals, supported by its data science function.

Revenue is generated through traditional private equity fund economics: management fees on committed capital and carried interest on investment returns. Capital is raised via private placement from institutional limited partners, including endowments, family offices, and existing LP relationships, with a relationship-driven, sales-led go-to-market focused on repeat engagement and referrals rather than broad public marketing.

Name

Karmel Capital

Legal name

Karmel Capital Management LLC

Website

https://karmelcapital.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Karmel Capital is an SEC-registered private equity firm founded in 2013 that invests in high-growth, late-stage enterprise technology companies via primaries, secondaries, and co-investments, managing roughly $450M AUM and serving institutional limited partners such as endowments and family offices.

Ownership category

akta.pro rank

Product category

Technology-focused Private Equity Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

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

akta.pro primary industry

Technology & Software Growth Equity (FSANACAA)

Keywords

• Private equity investing
• Technology secondary investments
• Late-stage venture capital
• AI infrastructure investments
• Direct secondaries primaries co-investments

Headquarters

HQ city

Vista

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees and Performance Fees (Carried Interest): Karmel Capital generates revenue through traditional private equity fund economics, including management fees on committed capital and performance fees (carried interest) on investment returns. The firm manages approximately $450M in assets under management across multiple opportunity funds and related vehicles.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Karmel Capital is a technology-focused private equity firm that invests in high-growth, late-stage enterprise technology companies through three strategies: Primary Investments, Secondary Investments, and Co-Invest. The firm manages approximately $450M in assets under management across multiple opportunity funds and related vehicles, including an AI-Focused Opportunity Fund (~$170M, February 2026) deployed into AI infrastructure and related enterprise software applications.

Product overview

Karmel Capital is a private equity firm offering a unified investment platform for disruptive technologies. The firm's core offering comprises three interconnected investment strategies—Primary Investments, Secondary Investments, and Co-Invest—all focused on high-growth, capital-efficient enterprise technology companies. The firm operates an AI-Focused Opportunity Fund (~$170 million) that deploys capital across AI infrastructure and enterprise software. The investment approach is data-driven and thematic, targeting late-stage venture-backed companies via direct secondaries, primaries, and co-investments.

Differentiator

Problem solved

Functional benefit

Products and services

• Primary Investments Primary investment strategy that invests in high-growth venture-backed companies by partnering with existing relationships and utilizing data insights to identify opportunities in high-growth, capital-efficient enterprise technology companies. Available to qualified institutional limited partners through Karmel Capital's managed funds.
• Secondary Investments Direct and venture secondaries providing flexible liquidity solutions for corporate stakeholders and venture capital partners in high-growth venture-backed companies. Offered to sellers in late-stage technology companies seeking liquidity outside of IPO or M&A timelines.
• Co-Invest Opportunistic and targeted co-investments in growth or late-stage pre-IPO companies, offered alongside direct secondaries and primary investments for qualified institutional limited partners.
• AI-Focused Opportunity Fund Approximately $170 million opportunity fund focused on AI infrastructure and related software applications, with 52% of total fund commitments already deployed in US and international markets. Made available to qualified institutional investors.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• TPG Capital: Diversified alternative asset manager with significant growth equity and tech investing franchises. Competes for institutional LPs and large tech deals; useful comp for size and breadth Karmel does not currently match.
• Insight Partners: Large-scale tech-focused growth equity investor with primary, secondary, and co-invest capabilities via vehicles like Insight Partners Secondary Opportunities Fund. Direct overlap with Karmel's three-strategy model but at materially larger scale and longer track record.
• StepStone Group: Global private-markets platform with dedicated secondary, co-invest, and growth equity capabilities serving institutional LPs. Larger and more diversified than Karmel but competes for the same LP mandates and secondary deal flow.
• Lexington Partners: One of the largest dedicated secondary investors globally with broad sector coverage including significant tech exposure. Larger, multi-strategy incumbent demonstrating the scale Karmel could grow into, with overlapping secondary transaction capabilities.
• Tiger Global Management: Tech-focused crossover/growth investor active across primary, secondary, and late-stage rounds. Operates at much greater scale and shorter fund duration but shares Karmel's tech growth thesis and secondary participation.

Direct peers

• Founders Circle Capital: Late-stage tech secondaries specialist providing liquidity to founders, employees, and early investors. Comparable product offering to Karmel's Secondary Investments strategy and similar tech-only mandate.
• Industry Ventures: Tech-focused venture secondaries, primaries, and co-invest platform that runs multiple fund vehicles. Closest direct peer given Karmel's identical strategy mix and tech focus, with a longer track record and similar relationship-driven deal sourcing.
• Stripes Group: Tech-focused growth equity firm investing in software and internet companies at growth and late stages. Comparable stage focus, sector specialization, and primary/co-invest orientation versus Karmel.
• Sapphire Ventures: Tech-focused growth and late-stage investor running primary and secondary fund vehicles for LPs. Similar sector mandate, multi-strategy platform, and LP base of endowments and family offices as Karmel.
• Mercato Partners: Growth-stage investor running primary and secondary vehicles focused on tech and tech-enabled businesses. Similar firm size, stage, and three-strategy orientation to Karmel.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/karmel-capital

Compliance1 record

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&A1 record

Investments8 records

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

Frequently asked questions about Karmel Capital