Cimbal

What Cimbal does

Cimbal Capital Group, LLC is a private equity firm founded in 2015 and headquartered in the San Francisco Bay Area that makes majority control investments in small-cap software and technology businesses, typically targeting companies generating $10–50 million in revenue. Since inception, the firm has built a portfolio of 10+ companies, created over $1.8 billion in realized transaction value, and grown assets under management to $360M+. Its core thesis is buyout re-engineering in a segment of the technology buyout market that sits below the threshold targeted by large funds, supported by a proprietary global sourcing network spanning leading research institutions (Carnegie Mellon, MIT, KAIST, SRI, Xerox PARC) and corporate relationships at HP, IBM, Cisco, Intel, and Google.

The firm operates a unified investment platform with service modules including Strategic Analysis, Acquisitions & Buyouts, IP Licensing, Structured Transactions, Growth Investments, and Divestitures. Its overarching methodology, branded PE 3.0 Buyout Re-engineering, combines a tax-efficient structure with potential 0% federal capital gains treatment, a European-style waterfall prioritizing LP capital return, low or no leverage to insulate from interest rate volatility, and a contract-first sourcing approach that pre-secures commercial contracts before investment. Fund I delivered 112% IRR and 4.95x DPI, and the firm is currently raising Fund II (CCG Fund II, L.P.).

Revenue is generated through two streams typical of PE fund management: recurring management fees on committed or invested capital charged to limited partners, and performance-based carried interest from successful exits. Customers are institutional investors and family offices qualifying as purchasers under the Investment Company Act of 1940, with portfolio companies serving as the operational recipients of capital and operating support rather than paying customers. Distribution is direct, through the firm's investor relations function and private placement memoranda rather than intermediated channels.

Name

Cimbal

Legal name

Cimbal Capital Group, LLC

Website

https://cimbal.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Cimbal Capital Group is a San Francisco Bay Area private equity firm founded in 2015 that makes majority control buyout investments in small-cap software and technology businesses generating $10–50M in revenue, sourcing deals through a proprietary network of research institutions and technology corporations for institutional investors and family offices.

Ownership category

akta.pro rank

Product category

Private Equity / Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282)

akta.pro industry

PRIMARYFSANAAAD

Sector-Focused Venture Capital (Vertical Specialists)

Financial & Insurance/Private Equity & Venture Capital/Venture Capital Firms

SECONDARYFSANADAI

Middle-Market Lending

Financial & Insurance/Private Equity & Venture Capital/Private Credit / Direct Lending Funds

Keywords

• Private equity firm
• Technology buyouts
• Majority control investments
• Operational value creation
• Growth capital

Headquarters

HQ city

Los Altos

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

Revenue model

1. Fund Management - Management Fees: Private equity fund management fees charged to limited partners on committed or invested capital
2. Fund Management - Carried Interest: Performance-based carried interest from successful fund exits, typically 20% of profits above the hurdle rate. First fund delivered 4.95x DPI indicating significant carried interest generation.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Cimbal Capital Group is a private equity firm that takes majority control positions in small-cap software and technology businesses generating $10–50 million in revenue. The firm delivers value creation through financial and operational re-engineering, management professionalization, strategic acquisitions, and commercial expansion, while also offering strategic analysis, IP licensing, structured transactions, growth investments, and divestiture services to portfolio companies and partners.

Product overview

Cimbal Capital Group is a private equity firm that operates as a unified investment platform offering multiple service modules centered on majority control investments in software and technology businesses. The core platform provides small-cap technology buyouts targeting $10–50M revenue companies, supported by service modules including Strategic Analysis, Acquisitions & Buyouts, IP Licensing, Structured Transactions, Growth Investments, and Divestitures. The PE 3.0 Buyout Re-engineering Strategy serves as the overarching investment methodology, combining tax-efficient structures, European-style waterfalls for LP distributions, and an all-weather uncorrelated return profile.

Differentiator

Problem solved

Functional benefit

Products and services

• Cimbal Capital Group Fund (Cimbal I / CCG Fund II)
• PE 3.0 Buyout Re-engineering Strategy
• Small-Cap Technology Buyouts Program
• Strategic Analysis Advisory
• Acquisitions & Buyouts
• IP Licensing
• Structured Transactions
• Growth Investments
• Divestitures

Quantifiable outcome

• 112% IRR and 4.95x DPI from first fund
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Carnegie Mellon University (CMU)coreStrategic or Co-development PartnerResearch institution partnership providing access to academic innovation and talent pipeline for technology sourcing. CMU is one of the world's leading research universities with strong technology transfer programs.
• Massachusetts Institute of Technology (MIT)coreStrategic or Co-development PartnerPremier research institution partnership for accessing cutting-edge technology research and innovation ecosystem. MIT provides a network of spin-off companies and technology commercialization opportunities.
• Xerox PARCcoreStrategic or Co-development PartnerHistoric research institution known for developing foundational computing technologies. Partnership provides access to under-commercialized technologies and research talent for deployment into high-value commercial applications.
• KAISTminorStrategic or Co-development PartnerKorea Advanced Institute of Science and Technology partnership providing access to Asian technology research and innovation, expanding global sourcing network into the Korean market.
• SRI InternationalcoreStrategic or Co-development PartnerResearch institute partnership for sourcing technology innovations and defense ecosystem technologies. SRI develops technologies for commercial and government applications.
• GoogleminorStrategic or Co-development PartnerTechnology partnership with Google, likely providing technology infrastructure, cloud services, or access to Google's technology ecosystem for portfolio companies.
• HPminorStrategic or Co-development PartnerCorporate partnership with HP, one of the world's largest technology companies, providing potential technology sourcing, corporate relationships, and market access opportunities.
• IntelminorStrategic or Co-development PartnerTechnology corporate partnership with Intel for semiconductor and technology ecosystem access, potentially benefiting portfolio companies in technology hardware and software sectors.
• CiscominorStrategic or Co-development PartnerCorporate partnership with Cisco for networking and technology infrastructure ecosystem access, potentially providing technology sourcing and corporate relationship opportunities.
• IBMminorStrategic or Co-development PartnerCorporate partnership with IBM for enterprise technology ecosystem access, providing potential technology sourcing, corporate relationships, and market development opportunities.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• JMI Equity: Lower-middle-market software and tech-enabled services PE firm; among the closest analogs to Cimbal in target company size, sector focus, and value-creation approach.
• Edison Partners: Growth equity firm focused on technology-enabled businesses; comparable lower-middle-market check sizes and sector specialization.
• FTV Capital: Growth equity investor in technology, financial services, and business services; comparable mid-market orientation and sector bias.
• Francisco Partners: Technology-focused PE firm investing across software, IT services, and tech-enabled businesses; directly comparable sector focus and lower-middle-market orientation.
• Sumeru Equity Partners: Middle-market technology and software PE firm; comparable check size, sector specialization, and growth-oriented operating model.
• Riverside Partners: Lower-middle-market PE firm with healthcare and technology focus; comparable check size and operational value-creation approach to small-cap tech buyouts.

Broad incumbents

• Insight Partners: Technology-focused investment platform spanning growth and structured equity; comparable sector focus with a heavier growth-equity tilt than Cimbal's buyout approach.
• Vista Equity Partners: One of the largest technology-focused PE firms; same software buyout thesis at significantly larger scale, setting the upper bound of the competitive set.
• Thoma Bravo: Largest dedicated software and technology PE platform; broad incumbent operating across much larger deal sizes, but the same software-buyout category.
• TA Associates: Middle-market growth equity and buyout firm with strong technology and software practice; comparable middle-market orientation with broader scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks3 records

Key highlights6 records

Customer concentration

• Xx.com/cimbalpay
• Facebookfacebook.com/cimbalcapital
• LinkedInlinkedin.com/company/cimbal

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

Investments

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

Frequently asked questions about Cimbal