Investment Criteria

Financials

  • EBITDA between $1-4M

  • EBITDA margin >10%

  • Stable, positive FCF 3+ yrs

  • History of stable revenue growth

  • Recurring revenue/customers

Industry

  • B2B focus; low capital intensity

  • Steady and stable YoY growth

  • Fragmented with no dominant player and high barriers to entry

  • Low cyclicality / seasonality

  • Minimal regulatory and/or technological risk

Company

  • Differentiated offering and defensible market position

  • Low customer concentration and attrition

  • Opportunity to increase market share

  • Experienced management and operating team