How many investments has Equality Asset Management made?

Equality Asset Management has 17 tracked investments, 1 of which have exited, including 1 dated in the last 24 months.

What stage does Equality Asset Management invest at?

Equality Asset Management invests at the Growth stage.

What is Equality Asset Management's typical check size?

Equality Asset Management typically writes checks of $25M – $150M.

Where is Equality Asset Management located?

Equality Asset Management is headquartered in Boston, US.

Does Equality Asset Management lead rounds?

Yes, Equality Asset Management leads investment rounds.

Who does Equality Asset Management co-invest with?

Equality Asset Management most often shares deals with Ascent Venture Partners, Bison Capital, First Analysis, among 9 tracked co-investors.

Equality Asset Management

Growth equityoperating company · company profile

Boston · Growth · 16 people tracked

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Investment thesis

EAM aims to build a leading lower mid-market, software-focused growth buyout firm. It invests entirely in software and software-enabled service companies, backing product-led, category-leading businesses with strong growth potential. Through its Investor-Operator strategy, EAM partners with founders and executives to support long-term profitable growth, operational excellence, and value creation. The firm typically invests $25M to $150M of equity per portfolio company, targeting capital-efficient, profitable, often founder-led businesses that it can scale through buyouts, growth equity, carve-outs, and strategic M&A across verticals such as governance/risk/compliance software, financial services, insurance, healthcare, and construction.

Invests inCloud Computing Construction Tech Data & Infrastructure Digital Health E-commerce Enterprise Software Fintech GovTech InsurTech SaaS Boston United States

Source: firm website, verified Sep 27, 2026.

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Stage

Growth

Check

$25M – $150M

Boston, US

Leads rounds

Leads

Instruments

Equity

Founded

2018

AUM

$575M

Tracked investments

Acquisitions

Team · 16 people

from the firm's website & curated

Jeff Del Papa· Co-Founder and Managing Partner· Boston, Massachusetts, United Statesin

Co-Founder and Managing Partner with over twenty years investing in private software companies; previously at Summit Partners, Thoma Bravo and TA Associates. Graduated from Babson College and holds an MBA from Harvard Business School.

Tom Roberts· Co-Founder and Managing Partner· Boston, Massachusetts, United Statesin

Co-Founder and Managing Partner who spent nearly 30 years at Summit Partners as Managing Partner and Investment Committee member, founding its Portfolio Performance Group and serving on over 40 portfolio company boards. Studied economics at Princeton and holds an MBA from Harvard Business School.

Shawn McGowan· Operating Partner· Greater Bostonin

Operating Partner with more than 25 years of operating experience in software and tech-enabled services, having served as CTO, COO and CEO, most recently CEO of Scribe Software. Graduated from Plymouth State College and Northeastern University (including an MBA).

Wendy Cebula· Operating Partner· Greater Bostonin

Operating Partner with over 30 years of leadership experience building high-growth edtech, e-commerce and financial services companies, including as President and COO of edX and roles at Vistaprint (Cimpress). Holds a B.S. in Finance from Rochester Institute of Technology.

John Batter· Principal· Boston, Massachusetts, United Statesin

Joined EAM in 2026 with over a decade of technology investing experience; previously a Principal at BV Investment Partners and worked at Onex Partners and The Parthenon Group. Holds a B.A. in Economics from Harvard College and an MBA from Harvard Business School.

Jonathan Schwartz· Principal· United Statesin

Joined EAM in 2025; previously a Vice President at H.I.G. Growth Partners focused on vertical and enterprise software and healthcare technology, and earlier at Deloitte Corporate Finance and Northlane Capital Partners. Holds a B.S. from UNC Chapel Hill's Kenan-Flagler Business School with a second major in Computer Science.

Kyle Olander· Vice President· Boston, Massachusetts, United Statesin

Joined EAM in 2025; previously invested in growth-stage software and data businesses at Spectrum Equity and worked as an Investment Banking Analyst at Raymond James. Holds a B.S. in Finance from Boston College.

Ken McAvey· Principal· Burlington, Vermont, United Statesin

Ken McAvey is Senior Vice President of Central Engineering & Infrastructure at GLOBALFOUNDRIES, where he oversees the engineering, facilities, and utilities that support the company's semiconductor fabs and global manufacturing operations. He started his career as a process engineer at IBM Microelectronics, later becoming Director of Manufacturing Engineering, and joined GF after it acquired IBM's Microelectronics division in 2015, holding roles including SVP and General Manager of GF's 200mm operations in Essex Junction, Vermont. He holds a bachelor's degree in Chemical Engineering and a master's in Engineering and Operations Management from Clarkson University.

Andrew Hayes· Chief Financial Officer & Chief Compliance Officer· Boston, Massachusetts, United Statesin

Joined EAM in 2020 with over 18 years serving private equity firms; previously an Audit and Transaction Advisory Partner at KLR and a Controller at Summit Partners. Holds a B.S. from Providence College, an MBA from Bryant University, and is a CPA.

Annabel Hodson-Walker· Associate· Boston, Massachusetts, United Statesin

Joined EAM in 2025; previously an Advisor on the Corporate Development team at Dell Technologies and interned at Silverwood Partners. Holds a B.S. in Management from Boston College's Carroll School of Management.

Fiona Beery· Executive Assistant· Boston, Massachusetts, United Statesin

Joined EAM in 2026; graduated from Virginia Tech with a B.S. in Finance.

Leighton Dolan· Associate· Boston, Massachusetts, United Statesin

Joined EAM in 2025; previously an Investment Banking Analyst in William Blair's technology group and interned at Bank of America Merrill Lynch. Graduated from Villanova School of Business.

Michaela Thompson· Senior Associate· Boston, Massachusetts, United Statesin

Joined EAM in 2022; previously interned at Battery Ventures focused on industrial technology investments. Holds a BS from Boston College's Carroll School of Management.

Page Sadlier· Director of Operations· Boston, Massachusetts, United Statesin

Joined EAM in 2018 with over 18 years of experience in investor relations and operations; previously at HighVista Strategies, DRG and Columbia Threadneedle Investments. Holds a B.A. in Economics from Northeastern University.

psadlier@equalityam.com

Sam Peacock· Analystin

Joined EAM in 2026; previously an analyst at Advantage Capital sourcing and evaluating opportunities. Holds a B.A. in Economics and Statistics from St. Lawrence University.

Tara Ciongoli· Senior Advisor· Boston, Massachusetts, United Statesin

Joined EAM in 2018 as COO and now serves as Senior Advisor; previously spent nearly a decade at McKinsey & Company and worked in business development at Time Inc./Time Warner. Holds an MBA from Harvard Business School and an AB from Princeton University.

tciongoli@equalityam.com

Founder mafia

3 people who came through Equality Asset Management went on to found or lead other companies.

Jeff Del PapaCo-Founder and Managing PartnerFounded Equality Asset Management Tom RobertsCo-Founder and Managing PartnerFounded Equality Asset Management Tara CiongoliSenior AdvisorFounded Equality Asset Management

What they invest in

from 15 of 17 portfolio companies

SaaS ×12Enterprise Software ×10Fintech ×8AI & Machine Learning ×3Data & Infrastructure ×3GovTech ×3InsurTech ×3LegalTech ×2

HQs:United States×8

Investments · 17 tracked

founders shown can be your intro path

By year:2025 · 1 2021 · 2 2020 · 14 dated

OptionMetricsoptionmetrics.com in 𝕏✓ verified

OptionMetrics provides historical options and implied volatility data to institutional investors, traders, and academic researchers worldwide.

Data & InfrastructureEnterprise SoftwareFintechNew York City, US

David J. Hait(CEO and Founder)in

Co-investorsLeeds

PCMIpcmicorp.com in 𝕏Jan 2021✓ verified

PCMI provides AI-powered software that automates the administration of F&I products, warranties, and service contracts for TPAs, OEMs, and automotive dealers worldwide.

AI & Machine LearningEnterprise SoftwareInsurTechSaaS

Mark Nagelvoort in

Co-investorsThoma Bravo First Analysis

Advanced GRCadvancedgrc.com

Advanced GRC provides digital modernization solutions for government agencies, including licensing management, case management, financial disclosure, and grant tracking systems to improve operational efficiency and regulatory oversight.

Enterprise SoftwareGovTechLegalTechSaaSNew York, US

Auctivoauctivo.com

Auctivo provides governance, risk, and compliance (GRC) software combined with AI for organizations in regulated industries and government agencies, covering sectors such as insurance, financial services, healthcare, and construction.

AI & Machine LearningGovTechSaaS

Cloudagecloudage.com in 𝕏

Cloud Age develops SaaS solutions for telecom infrastructure management and lifecycle operations.

Cloud ComputingEnterprise SoftwareFintechSaaS

Connectbaseconnectbase.com in 𝕏Mar 2025

Connectbase provides tools for telecom wholesale sales teams to identify their total addressable market, set location-level pricing, and automate distribution of building and network serviceability data to partners.

Data & InfrastructureEnterprise SoftwareLogistics & Supply ChainSaaSSales TechWestborough, US

Ben Edmond(CEO & Founder)inShivani York(Chief Operating Officer)inSteve Sincavage(Chief Financial Officer)Trey(Chief Technology Officer)

Board Sean Dowling(Director)in Alexandre Villela(Director)in

Co-investorsDigitalBridge Harbert Growth Partners Osage Venture Partners Ascent Venture Partners Nauta Capital

Elation Systemselationsys.com

Elation Systems provides web-based compliance management systems for government agencies, non-profits, and private organizations to automate labor compliance tracking, prevailing wage reporting, and project administration.

Construction TechEnterprise SoftwareGovTechLegalTechSaaSPortsmouth, US

Equality Asset Managementequalityassetmanagement.com in

Equality Asset Management (EAM) is a Boston-based growth-oriented private equity firm that invests in lower mid-market software and software-enabled services companies, typically deploying $25M to $150M of equity per portfolio company.

Enterprise SoftwareFintechSaaSBoston, US

Jeff Del Papa(Co-Founder & Managing Partner)in Tom Roberts(Co-Founder & Managing Partner)in

Co-investorsCatalyst Partners First Analysis

Eventionllceventionllc.com in 𝕏

Evention provides financial reconciliation and payment processing solutions for hospitality and retail organizations, automating credit card settlement, gratuity payroll, and audit reporting across thousands of locations globally.

Enterprise SoftwareFintechSaaS

Mike Baldinger(Founder)in

Ionanalyticsionanalytics.com in

ION Analytics provides data and analytics services for global capital markets, combining human research with AI to deliver predictive market intelligence.

AI & Machine LearningData & InfrastructureEnterprise SoftwareFintechMedia & Entertainment

Co-investorsLiquidity Capital

Mindoulamindoula.com inSeries C · Jul 2020 · $27M

Mindoula is a population health management company that identifies, engages, and supports people with complex behavioral health, medical, and social needs using a technology suite of data science, psychometrics, predictive analytics, and AI combined with virtual and in-person care teams.

Digital HealthHealthtechMental HealthSilver Spring, US

Steven Sidel(Executive Officer, Director)Greg Couto(Executive Officer, Director)

Board Navid Farzad(Director)Manish Agarwal(Director)in

Co-investorsFrist Cressey Ventures Heritage Group Atlantic Vantage Point AXA Venture Partners

Mivamiva.com in 𝕏Nov 2021

Miva provides ecommerce platform solutions that help merchants grow revenue through its proprietary technology.

E-commerceRetail TechSaaSSan Diego, US

David Hubbard(Executive Officer, Director)Richard Rauscher(Executive Officer)Rick Wilson(Executive Officer, Director)Jon Burchmore(Executive Officer)Nathan Osborne(Executive Officer)Russ Carroll(Director)

Co-investorsBison Capital

OptionStratoptionstrat.com in 𝕏

Optionstrat provides educational tools and analytics for options traders, including a strategy builder, optimizer, and market flow scanner.

FintechSaaS

Heath M.(Founder)in

Rhoads Onlinerhoadsonline.com in

Rhoads provides a platform that connects regulatory intelligence with operational workflows to help insurance organizations manage licensing, appointments, and compliance requirements across their distribution networks.

Enterprise SoftwareFintechInsurTechSaaS

Riskcontroltechriskcontroltech.com inacquired by Duck Creek Technologies

Duck Creek Loss Control is a loss control product for property and casualty insurers that embeds risk inspection and predictive risk data into underwriting and policy workflows.

FintechInsurTechSaaS

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Evention

Exits · 1

1 acquisitions

Riskcontroltechacq. by Duck Creek Technologies

Portfolio news

latest coverage across their companies

Leeds Equity Partners Announces Sale of OptionMetrics

OptionMetrics · prnewswire.com · Aug 5, 2026

Connectbase Acquires Cloud Age, Expanding Its Role as the Operating System for Transacting in the Connected World

Connectbase · prnewswire.com · Dec 2, 2025

Frequently asked questions

How many investments has Equality Asset Management made?: Equality Asset Management has 17 tracked investments, 1 of which have exited, including 1 dated in the last 24 months.
What stage does Equality Asset Management invest at?: Equality Asset Management invests at the Growth stage.
What is Equality Asset Management's typical check size?: Equality Asset Management typically writes checks of $25M – $150M.
What sectors does Equality Asset Management focus on?: Equality Asset Management focuses on Cloud Computing, Construction Tech, Data & Infrastructure, Digital Health, E-commerce, Enterprise Software, Fintech, GovTech, InsurTech, SaaS.
Where is Equality Asset Management located?: Equality Asset Management is headquartered in Boston, US.
Does Equality Asset Management lead rounds?: Yes, Equality Asset Management leads investment rounds.
Who does Equality Asset Management co-invest with?: Equality Asset Management most often shares deals with Ascent Venture Partners, Bison Capital, First Analysis, among 9 tracked co-investors.

Images

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