Fundraising Fox

Genstar

Private equity

San Francisco Β· Growth

Also known as Genstar Capital Management Llc

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Investment thesis

Genstar Capital pursues a sector-driven private equity strategy aimed at middle market companies. The firm partners with management teams and leaders, combining financial and operational experts to help portfolio companies grow, adapt quickly, and pursue opportunities. Its investment focus spans financial services, healthcare, industrials, and software sectors, emphasizing an entrepreneurial approach to building and scaling businesses.

Source: firm website, verified Aug 25, 2026.

Stage
Growth
HQ
San Francisco, CA, US
Leads rounds
Leads
Instruments
Equity
Founded
1988
AUM
$51.3B
Tracked investments
79

What they invest in

from 65 of 79 portfolio companies

SaaS Γ—33Fintech Γ—24Enterprise Software Γ—14InsurTech Γ—12Advanced Manufacturing Γ—9AI & Machine Learning Γ—9Healthtech Γ—8B2B Marketplaces Γ—5

HQs:United StatesΓ—20

Investments Β· 79 tracked

founders shown can be your intro path

By year:2016 Β· 32012 Β· 14 dated

WEX, Inc.wexinc.comin𝕏NYSE: WEXJul 2016

WEX provides business payment solutions, including corporate payments, mobility/fleet payments, and employee benefits offerings.

Enterprise SoftwareFintechMobility & TransportationSaaSSouth Portland, US

Melissa D. Smith(Executive Officer, Director)Michael D. Dubyak(Director)Roberto Simon(Executive Officer)Jeff Young(Executive Officer)George L. McTavish(Director)Ronald T. Maheu(Director)

Co-investorsAdvection Growth CapitalNorth Atlantic Capital

2 102-10.comin

2-10 Home Buyers Warranty sells home warranty plans that cover repair or replacement of major home systems and appliances such as heating, AC, electrical, plumbing, and kitchen and laundry appliances.

InsurTechPropTech

8Am8am.comin𝕏

8am offers AI tools embedded into everyday work, letting users draft and refine documents, summarize cases, and search and extract insights from documents while keeping the AI grounded in a firm's own data.

AI & Machine LearningEnterprise SoftwareSaaS

Abraconabracon.com
ACA Groupacaglobal.comin𝕏

ACA Group provides governance, risk, and compliance (GRC) solutions for financial institutions, combining advisory services, managed services, and regulatory technology.

CybersecurityFintechSaaS

Co-investorsWhistler Capital Partners

Accruentaccruent.comin

Accruent develops workplace and asset management software that covers the lifecycle of assets and facilities, including CMMS/maintenance, real estate and lease management, workplace and resource scheduling, energy management, and document management.

Enterprise SoftwarePropTechSaaS

Acrisure Small Business Insuranceacrisure.comin

Acrisure combines advisory expertise with technology to connect businesses and individuals to insurance, employee benefits, cybersecurity, payroll, and mortgage solutions.

CybersecurityFintechInsurTech

Co-investorsNewlin Ventures

Advarraadvarra.com

Advarra provides technology platforms and services for clinical trials, including IRB review/oversight, clinical trial management systems (CTMS), regulatory document management, and data capture tools.

Digital HealthHealthtechSaaS

Co-investorsNorthlane Capital Partners

Alera Groupaleragroup.comin𝕏Dec 2016

Alera Group provides insurance and financial services, offering employee benefits, property and casualty insurance, risk management, and wealth management solutions to businesses and individuals through a network of specialists and offices.

FintechInsurTechDeerfield, US

PETER MARATHAS(Executive Officer)ROB LIEBLEIN(Executive Officer)WILLIAM CORRIGAN(Executive Officer)ALAN LEVITZ(Executive Officer, Director)

BoardCLINT BROOKS(Director)RYAN CLARK(Director)

Co-investorsFlexpoint Ford

Altramotionaltramotion.com
AMBAgetamba.comin𝕏

AMBA provides insurance and benefits programs β€” including dental, vision, professional liability, and Medicare solutions β€” for associations and affinity groups such as retiree and alumni organizations.

InsurTech

Amerilifeamerilife.comin𝕏

AmeriLife is an insurance and financial services company that helps individuals and businesses obtain financial security products such as life and health insurance.

FintechInsurTechClearwater, US

James Quinn(Executive Officer)Scott Perry(Executive Officer, Director)R. Nathan Hightower(Executive Officer)Gideon Moore(Executive Officer)Sally Rocker(Director)John Walters(Director)

Co-investorsGenstar CapitalThomas H. Lee Partners

Amwinsamwins.comin

Amwins is a wholesale insurance broker and specialty insurance distributor that provides retail agencies and insurance carriers with access to specialty markets, proprietary products, actuarial services, and program development.

InsurTechCharlotte, US

M. Steven DeCarlo(Manager)Scott M. Purviance(Manager)Stuart Szabo(Manager)Baljit Dail(Manager)

BoardBenjamin R. Sloop(Manager)Matthew Ebbel(Manager)

Co-investorsNew Mountain CapitalParthenonDragoneer Investment Group

Aperturellcaperturellc.comin

Aperture is a national forensic and technical consulting firm that provides expert analysis, accident reconstruction, and litigation dispute support.

Deep TechLegalTech

Apexgroupapexgroup.com

Apex Group is a single-source asset servicing provider offering fund administration, capital raising, portfolio administration, business management, and related services across the investment value chain.

Enterprise SoftwareFintechSaaS

Arrowheadepincarrowheadepinc.com

Arrowhead Engineered Products distributes OEM and aftermarket replacement parts and accessories for powersports equipment, road-based vehicles, and outdoor power, agriculture, and industrial equipment.

B2B MarketplacesLogistics & Supply ChainMobility & Transportation

Co-investorsGenstar Capital

Artivestartivest.co

Artivest ran an online investment platform in the United States that gave investors access to private equity and hedge fund offerings.

Fintech

James Waldinger

Co-investors500 GlobalAnthemis VentureRRE Ventures

Ascensusascensus.com
AssetMarkassetmark.comin𝕏Nov 2016

AssetMark provides a third-party asset management platform for independent financial advisors, offering wealth management technology, curated investment portfolios, retirement services, and back-office and consulting support.

Enterprise SoftwareFintechSaaSConcord, US

Charles Goldman(Manager)

Co-investorsLovell Minnick

Awlawl.com

AWL operates an online marketplace that connects consumers shopping for insurance productsβ€”including auto, renter's, life, and Medicare coverageβ€”with licensed insurance agents.

InsurTechMarketplacesAustin, US

Brookandwhittlebrookandwhittle.com
Bullhornbullhorn.comin𝕏

Bullhorn provides cloud-based software that manages the full recruitment lifecycleβ€”from sourcing and sales to payroll and invoicingβ€”with AI features throughout, aimed at staffing and recruitment firms.

AI & Machine LearningHR TechSaaSSales TechBoston, US

Art Papas(Founder & CEO)

Co-investorsInsight PartnersGenstar CapitalStone PointOhio Innovation Fund

Cerity Partnersceritypartners.comin

Cerity Partners provides financial planning, investment management, tax, and risk management advisory services for individuals, families, and businesses.

Fintech

Co-investorsCerity Partners VenturesLightyearW Capital PartnersWarburg PincusWest Coast Financial

Ceteracetera.comin𝕏

Cetera provides support and affiliation services for financial professionals and institutions, including financial advisors.

FintechDenver, US

Greg Olson(Executive Officer)Erinn Ford(Executive Officer)Stan Smiley(Executive Officer)Bernie Breton(Executive Officer)Lisa Gok(Executive Officer)Larry Roth(Executive Officer)

Co-investorsLightyear

Clariencetechnologiesclariencetechnologies.comin

Clarience Technologies develops visibility and safety technologies for the transportation industry, including LED lighting, cameras and vision systems, emergency warning systems, cargo protection equipment, and an IoT-based fleet platform.

HardwareIoTMobility & Transportation

Co-investorsLeonard Green

Communitybrandscommunitybrands.comin

Community Brands (Momentive) offers an AI-powered software platform for nonprofits and associations, unifying tools for association management, events, learning, fundraising, and member and donor engagement.

AI & Machine LearningImpact & Social GoodSaaS

Confieconfie.com
ConnectiveRxconnectiverx.comin

ConnectiveRx provides hub services, patient support, and patient affordability programs that help pharmaceutical manufacturers, healthcare providers, and patients access and stay on prescribed therapies.

Digital HealthHealthtechSaaS

Co-investorsForesite Capital

Constructconnectconstructconnect.comin𝕏

ConstructConnect offers construction project data and softwareβ€”including project search, takeoff and estimating tools (On-Screen Takeoff, PlanSwift, QuoteSoft), and bid management (SmartBid, iSqFt)β€”to help contractors and building product manufacturers find, bid on, and win commercial construction jobs.

AI & Machine LearningConstruction TechSaaS

Cynclycyncly.comin𝕏

Cyncly provides software solutions for businesses across design, manufacturing, sales, and project management workflows, covering the process from initial idea to final installation.

Advanced ManufacturingConstruction TechSaaS

Daxko, Incdaxko.com

Co-investorsGolub Growth

Docupace_docupace.comin

Docupace is a technology company for the wealth management industry, providing a platform that digitizes back-office operations including account onboarding, workflow automation, task tracking, compliance, and data integration.

Enterprise SoftwareFintechSaaS

Co-investorsFTV CapitalTVC Capital

Ecmindustriesecmindustries.com
Enverusenverus.comin𝕏

Enverus provides a mineral rights management and oil and gas investment platform for tracking wells, revenue, and mineral assets across portfolios.

Data & InfrastructureEnergyFintechSaaS

Manuj Nikhanjin

Co-investorsAccel-KKRCross Creek AdvisorsInsight PartnersLighthouse Network Ventures Llc

Ertert.comin𝕏

Clario provides endpoint technologies and software for clinical trial management, serving pharmaceutical and biotech sponsors, CROs, and clinical trial sites globally.

AI & Machine LearningHealthtechMedical Devices

Co-investorsSignet Healthcare Partners

Financialhorizonsfinancialhorizons.com

Financial Horizons is a partner organization for independent financial advisors, providing expert services, financial products, and business support tools.

Fintech

Firsteaglefirsteagle.comin

First Eagle is an investment management firm that builds portfolios through fundamental, bottom-up security analysis complemented by macroeconomic research.

FintechNew York, US

Andrew Gundlach(Director)Michael Kellen(Director)Jean-Luc Gravel(Director)Peter Seligmann(Director)Tom Hill(Director)Bridget Macaskill(Director)

Co-investorsSofina

Flourishresearchflourishresearch.comin

Flourish Research operates a multi-site clinical trial network of wholly-owned sites across the US, running studies from first-in-human early phase through proof of concept.

BiotechDigital HealthHealthtechBirmingham, US

Iasdirectiasdirect.comin𝕏

iA American (iA American Warranty Group) provides F&I (finance and insurance) products for franchise and independent dealers, including vehicle protection plans for automotive, motorcycle, powersports, and RV, along with profit participation programs, dealer training, and income development services.

FintechInsurTechMobility & Transportation

Infinite RFinfiniterf.com

B2B direct marketer of radio frequency, microwave, and fiber optic connectors, cables, and components.

Co-investorsWindjammer Capital

Inside Real Estateinsiderealestate.comin𝕏

Inside Real Estate builds technology products for real estate brands and brokerages, aimed at supporting business growth.

PropTechSaaS

Co-investorsAmbina PartnersLovell Minnick

Insurityinsurity.comin𝕏

Insurity provides cloud-based core insurance software combining policy administration, billing, premium audit, geospatial analytics, and AI-driven underwriting tools.

AI & Machine LearningInsurTechSaaS

Issgovernanceissgovernance.com
Jetsupportjetsupport.comin

JSSI (Jet Support Services) provides maintenance programs, software, parts, engines, and financing for business aircraft operators and fleets worldwide.

FintechLogistics & Supply ChainSaaS

Lightspeedsystemslightspeedsystems.comin𝕏

Lightspeed Systems provides a K-12 education platform with tools for web filtering, device management (MDM), classroom monitoring, edtech analytics, student safety alerts, and anonymous reporting.

CybersecurityEdTechSaaS

Likewizelikewize.com
Marconemarcone.comin

Marcone is a distributor of OEM repair parts and supplies for residential and commercial appliances and plumbing, serving repair providers across North America.

Advanced ManufacturingB2B MarketplacesLogistics & Supply Chain

Masaglobalmasaglobal.comin

MASA (Medical Access & Service Advantage) offers prepaid membership plans that cover out-of-pocket costs for emergency air and ground medical transportation, such as ambulance bills.

HealthtechInsurTech

Merceradvisorsmerceradvisors.comin

Mercer Advisors provides financial and wealth management services modeled on a family office approach, offering families access to advisors, specialists, and support staff.

Fintech

Co-investorsWP Global Partners

MidCap Financialmidcapfinancial.comin

MidCap Financial provides debt capital and tailored financing solutions to middle-market companies across a range of industries.

Fintech

Co-investorsMidCap Financial Investment

Mw Indmw-ind.comin

MW Components manufactures engineered metal components β€” including springs, fasteners, metal bellows, and microcomponents β€” for demanding industries such as aerospace, energy/oil and gas, military and defense, and medical.

Advanced ManufacturingHardwareNew Materials

Netsmart Technologiesntst.comin𝕏

Netsmart provides behavioral health information technology solutions and advocacy services supporting the expansion of Certified Community Behavioral Health Clinics and integrated mental health care delivery.

Enterprise SoftwareGovTechHealthtechMental HealthSaaS

Co-investorsBessemer Venture Partners

Numerixnumerix.comin𝕏

Numerix builds trading and risk management software for capital markets, including pricing and risk libraries for OTC and exchange-traded derivatives, fixed income, and structured finance products, plus enterprise systems for valuations, market risk, counterparty risk, XVAs, and regulatory reporting.

Enterprise SoftwareFintechSaaS

NuventixMar 2012

Company offering thermal management solutions using synthetic jet technology for electronics cooling applications.

Austin, US

David Kollen(Executive Officer)Dennis Costello(Director)Tom Dalton(Executive Officer)Steve Farrell(Executive Officer)Berry Cash(Director)Bob Paluck(Director)

Co-investorsBraemar Energy VenturesGE Energy Financial ServicesRho Ventures

Obsidianspecialtyobsidianspecialty.comin

Obsidian Specialty is a hybrid program carrier that partners exclusively with managing general agents and program administrators to build long-term program business.

FintechInsurTech

Oeconnectionoeconnection.com

OEC operates an end-to-end platform for the automotive aftersales market, offering integrated marketplace, insights, and supply chain tools that support the vehicle repair and OEM parts eCommerce workflow.

B2B MarketplacesMobility & TransportationSaaS

Co-investorsFrancisco Partners

Orionorion.comin𝕏

Orion is a wealthtech platform for financial advisors, RIAs, broker-dealers, banks, and family offices, combining portfolio accounting, CRM (Redtail), trading, planning, compliance, a client portal, and an enterprise AI layer (Denali AI).

AI & Machine LearningFintechSaaS

Otcindustrialotcindustrial.comin

OTC Industrial Technologies (Ohio Transmission Corporation) distributes industrial products from vendor partners and provides repair, spare parts, and preventative maintenance services across a range of manufacturing industries.

Advanced ManufacturingB2B MarketplacesHardware

Palomarspecialtypalomarspecialty.comin

Palomar is a specialty insurer offering coverage for commercial and residential clients across five product categories: earthquake, casualty, inland marine and property, crop, and surety and credit.

FintechInsurTech

PDI Technologiespditechnologies.comin𝕏

PDI Technologies provides software solutions for convenience retailers, wholesalers, and brands, including ERP back-office and invoicing tools (PDI Enterprise) as well as market insights and analytics.

Enterprise SoftwareRetail TechSaaS

Exits Β· 1

IPOs and acquisitions across the tracked portfolio

WEX, Inc.NYSE: WEX

Portfolio news

latest coverage across their companies

Fund performance Β· per public LP disclosures Β· 21

as of Mar 2025
FundVintageCommittedNet IRRTVPIDPI
Genstar Capital Partners Fund, XI, LPLPs: Empire State Development – New York Ventures2023β€”β€”1.08x0.09x
Genstar Capital Partners XILPs: Oregon Public Employees Retirement System, California Public Employees' Retirement System, Michigan Municipal Employees' Retirement System +5 more2023β€”β€”1.14x0.08x
Genstar Capital Partners XIrLPs: Orange County Employees Retirement System2023β€”β€”1.20x0.09x
Genstar Capital XILPs: Northern LGPS2023β€”β€”1.23x0.00x
Genstar XI Opportunities FundLPs: Los Angeles City Employees' Retirement System, Oregon Public Employees Retirement System2023β€”β€”1.15x0.02x
Genstar XI Opportunities Fund I, L.P.LPs: California Public Employees' Retirement System, Michigan Municipal Employees' Retirement System2023β€”β€”1.16x0.04x
Genstar Capital Partners XLPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, California Public Employees' Retirement System +6 more2021β€”β€”1.10x0.04x
Genstar Capital Partners X Opportunities ProgramLPs: Ventura County Employees' Retirement Association2021β€”β€”1.23x0.06x
Genstar Capital XLPs: Northern LGPS2021β€”β€”1.11x0.00x
Genstar X Opportunities Fund ILPs: California Public Employees' Retirement System, Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System +1 more2021β€”8.8%1.27x0.06x
Genstar Capital IXLPs: Northern LGPS2019β€”β€”1.99x0.69x
Genstar Capital Partners IXLPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, Northern LGPS +6 more2019β€”β€”2.17x1.07x
Genstar Capital Partners IX Opportunities ProgramLPs: Ventura County Employees' Retirement Association2019β€”20.4%2.13x0.93x
Genstar IX Opportunities Fund ILPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, Los Angeles City Employees' Retirement System2019β€”20.1%2.10x0.93x
Genstar Capital Partners VIIILPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, Nebraska Investment Council +1 more2017β€”24.5%2.66x1.23x
Genstar VIII Opportunities FundLPs: Oregon Public Employees Retirement System2017β€”19.5%2.68x1.41x
Genstar VIII Opportunities Fund ILPs: Michigan Municipal Employees' Retirement System, Oregon Public Employees Retirement System2017β€”17.6%1.60x0.29x
Genstar Capital Partners VI, L.P.LPs: The Regents of the University of California2011β€”36.6%2.02x2.02x
Genstar Capital Partners V, LP LBOLPs: California State Teachers' Retirement System2007β€”15.5%2.41x2.41x
Genstar Capital Partners IV, L.P.LPs: The Regents of the University of California2004β€”8.3%1.51x1.51x
Genstar Captial Partners VIILPs: West Yorkshire Pension Fundβ€”β€”β€”2.54x2.03x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Genstar made?
Genstar has 79 tracked investments.
What stage does Genstar invest at?
Genstar invests at the Growth stage.
What sectors does Genstar focus on?
Genstar focuses on Advanced Manufacturing, Fintech, Healthtech, SaaS.
Where is Genstar located?
Genstar is headquartered in San Francisco, US.
Does Genstar lead rounds?
Yes, Genstar leads investment rounds.
Who does Genstar co-invest with?
Genstar most often shares deals with Foresite Capital, Insight Partners, Leonard Green, among 44 tracked co-investors.

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