Cimarron Capital Partners
Cimarron Capital Partners is a privately held boutique investment manager that designs and manages venture capital and private equity fund of funds programs for U.S. state economic development agencies (Oklahoma, Iowa, Arkansas) and advises Latin American institutional investors on FOF design and due diligence.
- Company typePrivate
- Founded1993
- HeadquartersOklahoma City, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Cimarron Capital Partners does
Cimarron Capital Partners, LLC is a privately held, boutique investment manager founded in 1993 and headquartered in Oklahoma City, with a regional office in Bogotá, Colombia opened in June 2009. The firm specializes in designing, building, and managing venture capital and private equity fund of funds (FOF) programs for state economic development agencies and institutional investors. Its core mandate is the regional FOF model, in which Cimarron selects and monitors underlying VC and PE managers on behalf of state clients — notably the Oklahoma Capital Investment Board, the Arkansas Development Finance Authority, and the Iowa Capital Investment Corporation — with the dual objective of generating financial returns and catalyzing economic development in underserved regions.
Cimarron's service portfolio extends beyond FOF management to include due diligence and deal sourcing (with a sector emphasis on cleantech), advisory engagements for international institutional investors, and ecosystem development services such as angel networks, industry forums (UAS Tech Forum, Technology Ventures Summit), and the affiliated Development Capital Networks (DCN). The firm has advised over 20 U.S. states and organizations in FOF design, and internationally has advised Mexico's Nacional Financiera (NAFIN) on a US$450 million Mexico Fund of Funds program (2006), conducted due diligence for Colombia's FOMIPYME (2009), and served institutional investors across Brazil, Peru, Chile, and additional Latin American markets. Principals have helped launch or sustain major industry associations including ILPA, LAVCA, NASVF, and CDFA, and the firm co-authored foundational reference works such as the National Governors' Association state seed/venture capital study and the CDFA Innovation Finance Reference Guide.
Commercially, Cimarron earns revenue through two streams: (1) management fees on FOF mandates — with disclosed AUM of approximately $320 million in the U.S. per a 2009 report and $123 million invested across its three state clients at that time — and (2) advisory fees on FOF design and due diligence engagements for government and institutional clients. The firm operates with a small team of 11-50 employees under the leadership of founder Robert G. Heard, Managing Director Mark Huston, and co-founder Michael A. Tharp, with go-to-market executed through direct, consultative engagement with state agencies, institutional LPs, and government development institutions rather than through intermediaries.
Cimarron Capital Partners firmographics
Firmographics- Name
- Cimarron Capital Partners
- Legal name
- Cimarron Capital Partners, LLC
- Website
- https://cimarroncapital.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cimarron Capital Partners is a privately held boutique investment manager that designs and manages venture capital and private equity fund of funds programs for U.S. state economic development agencies (Oklahoma, Iowa, Arkansas) and advises Latin American institutional investors on FOF design and due diligence.
- Ownership category
- akta.pro rank
Cimarron Capital Partners industry classification
Industry- Product category
- Investment Management (Fund of Funds)
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), All Other Financial Investment Activities (52399)
- SIC
- Investment Advice (6282), Services-Management Consulting Services (8742), Investors, Nec (6799)
- akta.pro primary industry
- Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)
- akta.pro secondary industries
- Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG), Institutional Capital Introduction (LP/Family Office/Endowment Matching) (FSAEALAI), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)
Keywords
Where Cimarron Capital Partners is headquartered
LocationHeadquarters
- HQ city
- Oklahoma City
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Cimarron Capital Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Others
Revenue model
- Fund of Funds Management: Cimarron manages fund of funds programs for state clients (Oklahoma Capital Investment Board, Arkansas Development Finance Authority, Iowa Capital Investment Corporation). The firm earns management fees for selecting and monitoring venture capital and private equity funds on behalf of these clients.
- Advisory Services: Cimarron provides advisory services to governments and institutions on fund of funds design, investment strategies, and portfolio construction. They have advised Mexico's Nacional Financiera on the $450 million Mexico Fund of Funds and Colombia's FOMIPYME.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Institutional client services |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Cimarron Capital Partners product offering
Product offeringCore offering
Cimarron Capital Partners is a privately held investment manager that designs, builds, and manages venture capital and private equity fund-of-funds programs for state government economic development agencies and Latin American institutional clients. The firm selects, monitors, and conducts due diligence on underlying VC and PE fund managers on behalf of clients such as the Oklahoma Capital Investment Board, Arkansas Development Finance Authority, and Iowa Capital Investment Corporation. Core services also include advisory engagements for foreign government development institutions and ecosystem development initiatives aimed at underserved regional economies.
Product overview
Cimarron Capital Partners is a pioneer in strategic fund investing with over twenty years of experience designing and managing venture capital and private equity programs for regional economies. The firm operates primarily as a Fund of Funds Manager, utilizing private capital to attract high-performing business builders whose time, talents, energy and capital help grow local entrepreneurial ecosystems. The core offering is Fund of Funds Management, which includes designing and building programs for the Oklahoma Capital Investment Board, Arkansas Development Finance Authority, and Iowa Capital Investment Corporation. Supporting services include Due Diligence Services for fund selection and monitoring, Latin America Investment Advisory for regional market expansion, and Ecosystem Development Services including hosting forums, angel networks, and training programs. The firm has generated over $3.4 billion in aggregate economic output through its fund of funds investments.
Differentiator
Problem solved
Functional benefit
Products and services
- Fund of Funds Management Design, build, and management of venture capital and private equity fund-of-funds programs for U.S. state economic development agencies and regional clients, including ongoing portfolio monitoring and manager selection. Named programs include those for the Oklahoma Capital Investment Board, Arkansas Development Finance Authority, and Iowa Capital Investment Corporation.
- Due Diligence Services Comprehensive due diligence and deal sourcing for private equity and venture capital fund investments, including cleantech research and sector-specific analysis, supporting fund-of-funds clients and institutional investors.
- Latin America Investment Advisory Advisory services for institutional investors evaluating and investing in Latin American private equity and venture capital markets, including fund selection, portfolio construction, and regulatory guidance for pension funds and development institutions.
- Mexico Fund of Funds Advisory Advisory engagement for Mexico's Nacional Financiera (NAFIN) on the design of a US$450 million Fund of Funds program to invest in Mexican VC/PE funds and international funds with a Mexico focus.
- Ecosystem Development Services Support for entrepreneurial ecosystem development through hosting forums, angel networks, training programs, and research initiatives that advance venture investing and business building in underserved regions.
Quantifiable outcome
- $123 million invested in VC and PE funds has attracted $407 million to regional companies (3.3:1 leverage ratio)
- +2 more outcomes
Companies that use Cimarron Capital Partners
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
Cimarron Capital Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Cimarron Capital Partners partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, major and minor.
- Institutional Limited Partners Association (ILPA)coreCimarron has partnered with ILPA since 2011 to host Latin America LP Roundtables and Investor Delegations to Latin America. These events bring together institutional investors from North and South America to learn about private equity opportunities in the region. The partnership has hosted three delegations (2012, 2013, 2015) visiting Colombia, Peru, Brazil, and Mexico.
- Development Capital Networks (DCN)coreDCN is an affiliate of Cimarron that manages organizations active in building entrepreneurial ecosystems, including the UAS Tech Forum, WBT Innovation Marketplace, and Technology Ventures Summit. Cimarron supports DCN's initiatives as part of ecosystem development.
- Council of Development Finance Agencies (CDFA)majorCimarron provides ongoing support to CDFA as a board chair or director. The firm co-authored the Innovation Finance Reference Guide, the primary curriculum for CDFA's Seed and Venture Capital Finance Course.
- Latin American Venture Capital Association (LAVCA)majorLAVCA was launched and managed by Development Capital Networks (a Cimarron affiliate). Christina Kappaz served as Executive Director from 2003-2007. Cimarron continues to support LAVCA and developed the Fund Economics Toolkit for the association.
- National Association of Seed and Venture Funds (NASVF)majorCimarron principals helped launch NASVF and continue to provide ongoing support to the organization.
- Cowboy Technology AngelsminorOklahoma-based angel network focused on early-stage technology investments. Cimarron supports this initiative as part of building the regional entrepreneurial ecosystem.
- WBTangelsminorAngel investor network supported by Cimarron as part of ecosystem development efforts.
- DronePort NetworkminorNetwork focused on unmanned aerial systems industry development, supported by Cimarron through the UAS Cluster Initiative.
- UAS Cluster InitiativeminorRegional initiative serving manufacturers, investors, and entrepreneurs in Oklahoma and Kansas UAS industry, managed by Development Capital Networks with Cimarron's support.
Scale indicators6 records
Recent moves8 records
Expansion highlights5 records
Cimarron Capital Partners competitors and assessment
Company assessmentDirect peers
- CVF Capital Partners: Direct peer that designs, builds, and manages state-level and regional fund-of-funds programs for government and economic development clients. Operates from a similar niche of regional/state VC-PE intermediation and shares Cimarron's model of partnering with state economic development agencies.
- Franklin Park Group: Independent fund-of-funds manager focused on building institutional-quality private markets portfolios for endowments, foundations, and family offices. Closely comparable product offering and target client base of institutional LPs.
- Portfolio Advisors: PE/VC fund-of-funds manager for institutional clients with a multi-decade track record and focus on building custom, diversified portfolios across private equity and venture capital. Comparable in size, vintage of operation, and institutional LP focus.
- Northleaf Capital Partners: Global private markets fund-of-funds manager and direct investor serving institutional clients including pensions, endowments, and foundations. Closely comparable business model of curating PE/VC exposure for institutions.
- Aether Investment Partners: Independent PE fund-of-funds manager building custom portfolios for institutional and family office clients. Directly comparable in scale, product offering, and institutional private markets focus.
Broad incumbents
- Pathway Capital Management: Large-scale global private equity fund-of-funds manager serving institutional investors. Broader incumbent offering overlapping product functionality and institutional client base at materially larger AUM scale.
- Commonfund Capital: Investment manager serving endowments, foundations, and pensions with multi-asset and PE/VC fund-of-funds solutions. Comparable institutional client focus and long-duration mandate orientation.
- Cambridge Associates: Long-established investment consulting firm for endowments, foundations, and pensions — historically including outsourced investment office and fund-of-funds construction. Comparable advisory role for institutional LPs with shared strategic-tilt language.
- Mesirow Financial: Diversified financial services firm with a private equity fund-of-funds business serving institutional and high-net-worth clients. Comparable FoF product, broader wealth/asset management portfolio.
Emerging players
- Larch Lane: PE fund-of-funds and co-investment platform focused on building customized portfolios for institutional and high-net-worth investors. Closely comparable boutique FoF manager with institutional client profile.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Cimarron Capital Partners social profiles
Digital presenceCimarron Capital Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cimarron Capital Partners leadership team
Management profileNumber of profiles
Profiles5 records
Cimarron Capital Partners subsidiaries and ownership
Company hierarchySubsidiaries1 record
Cimarron Capital Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cimarron Capital Partners M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cimarron Capital Partners
What does Cimarron Capital Partners do?
Cimarron Capital Partners is a privately held investment manager that designs, builds, and manages venture capital and private equity fund-of-funds programs for state government economic development agencies and Latin American institutional clients. The firm selects, monitors, and conducts due diligence on underlying VC and PE fund managers on behalf of clients such as the Oklahoma Capital Investment Board, Arkansas Development Finance Authority, and Iowa Capital Investment Corporation. Core services also include advisory engagements for foreign government development institutions and ecosystem development initiatives aimed at underserved regional economies.
Is Cimarron Capital Partners a public or private company?
Cimarron Capital Partners is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Cimarron Capital Partners founded?
Cimarron Capital Partners was founded in 1993. It employs 11 to 50 people.
Where is Cimarron Capital Partners based?
Cimarron Capital Partners is headquartered in Oklahoma City, United States, in the North America region.
How does Cimarron Capital Partners make money?
Two revenue lines are on record. Fund of Funds Management is the primary driver. The others are advisory Services.
Who are Cimarron Capital Partners's main competitors?
Direct peers on record are CVF Capital Partners, Franklin Park Group, Portfolio Advisors, Northleaf Capital Partners and Aether Investment Partners. Broad incumbents are Pathway Capital Management, Commonfund Capital, Cambridge Associates and Mesirow Financial. Larch Lane is listed as an emerging player.
Does Cimarron Capital Partners have an API?
No public API is recorded for Cimarron Capital Partners.
What industry is Cimarron Capital Partners in?
Cimarron Capital Partners's product category is Investment Management (Fund of Funds). Its primary akta.pro industry code is FSAAALAG, Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure), with a secondary code of FSAAACAG, Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions). Its NAICS code is 523940 and its SIC code is 6282.