Performant Capital

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Overview

Performant Capital is a private equity firm founded in 2020 that specializes in majority and buyout investments in software and technology-enabled service businesses. The firm targets mission-critical B2B companies with recurring revenues between $1M and $30M, making check sizes ranging from $10M to $100M. Performant Capital is positioned as an operator-focused investor, leveraging its principals' combined 50+ years of experience in private equity, technology, and entrepreneurship to identify and accelerate growth in profitable or near-profitable software companies with strong client retention.

History

Performant Capital was founded in 2020 by principals with extensive backgrounds in private equity, technology, and entrepreneurship. The firm is based in Chicago and operates as an independent private equity firm. In December 2023, the firm closed its first fund, Performant Fund I, marking a key milestone in its institutional capital raising efforts.

Reputation

Performant Capital is recognized within the private equity community as a specialized investor in software and technology services, distinguished by its focus on profitable, mission-critical businesses rather than early-stage ventures. The firm appeals to entrepreneurs seeking operational expertise alongside capital, given its principals' deep technology and operating backgrounds. As a relatively newer entrant to the market founded in 2020, Performant Capital has established credibility through its institutional fund close and disciplined investment criteria, though it remains smaller in scale compared to larger multi-sector private equity firms.

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