Volition Capital

Overview

Volition Capital is a Boston-based growth equity firm founded in 2010 that invests in high-growth, founder-owned companies in software, internet, and consumer sectors, primarily in the US and Canada.¹²³ It manages $1.7 billion in assets under management across five funds, with a portfolio of 70 active companies, 108 exits including 23 acquisitions and two IPOs, and three unicorns.¹² The firm focuses on capital-efficient businesses with $5-50 million in revenue, providing operational support and board positions.¹²

History

Volition Capital was founded in 2010 by Larry Cheng, Roger Hurwitz, and Sean Cantwell in Boston, MA.¹²³ Key milestones include closing Fund V with $675 million in January 2023, bringing total AUM to over $1.7 billion, and achieving 108 exits with two IPOs and three unicorns.¹² In 2024, it made new investments in HALOS Body Cams, Screenverse, and Levanta, and follow-on investments including in Creatio's $200 million round at $1.2 billion valuation.⁵ As of February 2026, it invested in Kombo's $25 million Series A.¹

Notable Products

• Volition Capital Fund V - Latest fund closed in January 2023 with $675 million in commitments.
• Investment in Creatio - Follow-on participation in $200 million round at $1.2 billion valuation in 2024.
• Investment in Kombo - Participation in $25 million Series A funding round in February 2026.
• Investment in Black Kite - $22 million Series B in cyber risk monitoring platform in October 2021.
• Investment in Assent Compliance - Notable deal in compliance software.
• Investment in Tracelink - Notable deal in supply chain management.

Reputation

Volition Capital receives high employee ratings of 4.8 out of 5 on Glassdoor based on 20 reviews, indicating excellent working conditions.⁶⁸ It has been named a top growth equity firm by GrowthCap in 2025.⁴ Professionals note a great office environment, independence, and non-toxic culture, with positive views on summer analyst positions leading to full-time opportunities.⁷ The firm is recognized for its track record in exits and support for founder-led tech companies.¹³