Genstar
Private equitySan Francisco Β· Growth
Also known as Genstar Capital Management Llc
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.
What they invest in
from 65 of 79 portfolio companiesSaaS Γ33Fintech Γ24Enterprise Software Γ14InsurTech Γ12Advanced Manufacturing Γ9AI & Machine Learning Γ9Healthtech Γ8B2B Marketplaces Γ5
HQs:United StatesΓ20
Investments Β· 79 tracked
founders shown can be your intro pathBy year:2016 Β· 32012 Β· 14 dated
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
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
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 combines advisory expertise with technology to connect businesses and individuals to insurance, employee benefits, cybersecurity, payroll, and mortgage solutions.
CybersecurityFintechInsurTech
Co-investorsNewlin Ventures
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 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
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
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
Aperture is a national forensic and technical consulting firm that provides expert analysis, accident reconstruction, and litigation dispute support.
Deep TechLegalTech
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
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
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
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
AWL operates an online marketplace that connects consumers shopping for insurance productsβincluding auto, renter's, life, and Medicare coverageβwith licensed insurance agents.
InsurTechMarketplacesAustin, US
Bullhorn provides cloud-based software that manages the full recruitment lifecycleβfrom sourcing and sales to payroll and invoicingβwith 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 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
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
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
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
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
ConstructConnect offers construction project data and softwareβincluding project search, takeoff and estimating tools (On-Screen Takeoff, PlanSwift, QuoteSoft), and bid management (SmartBid, iSqFt)βto help contractors and building product manufacturers find, bid on, and win commercial construction jobs.
AI & Machine LearningConstruction TechSaaS
Co-investorsGolub Growth
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
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
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
Financial Horizons is a partner organization for independent financial advisors, providing expert services, financial products, and business support tools.
Fintech
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
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
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
B2B direct marketer of radio frequency, microwave, and fiber optic connectors, cables, and components.
Co-investorsWindjammer Capital
Inside Real Estate builds technology products for real estate brands and brokerages, aimed at supporting business growth.
PropTechSaaS
Co-investorsAmbina PartnersLovell Minnick
JSSI (Jet Support Services) provides maintenance programs, software, parts, engines, and financing for business aircraft operators and fleets worldwide.
FintechLogistics & Supply ChainSaaS
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
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
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 Financial provides debt capital and tailored financing solutions to middle-market companies across a range of industries.
Fintech
Co-investorsMidCap Financial Investment
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
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
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
Obsidian Specialty is a hybrid program carrier that partners exclusively with managing general agents and program administrators to build long-term program business.
FintechInsurTech
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
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
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 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
PlayMetrics offers an all-in-one club management software platform for youth soccer clubs, centralizing club management workflows in a single hub.
SaaSSports Tech
Co-investorsBoulder Ventures
Co-investorsThe Argentum Group
Pretium is a plastic packaging manufacturer with production sites across North America and Europe, supporting customers where they make, fill, and distribute their products.
Advanced ManufacturingNew Materials
Procure Analytics is a group purchasing organization (GPO) that manages indirect spend categories such as MRO, packaging, freight, and tail spend for its member companies.
B2B MarketplacesEnterprise SoftwareSaaS
Co-investorsBregal Sagemount
Prometheus Group develops an AI-enabled platform for enterprise asset management, maintenance operations, planning and scheduling, and environmental health and safety.
AI & Machine LearningEnterprise SoftwareSaaS
Co-investorsLeonard Green
Signant Health provides eClinical technology and services for clinical trial data collection, including electronic data capture, patient and site data solutions, and scientific and operational support.
Digital HealthHealthtechSaaS
Co-investorsForesite Capital
Sonny's Direct offers an online tool that lets users upload or take a photo of a part to find matching products.
AI & Machine LearningE-commerceRetail Tech
Sphera provides an enterprise software platform that unifies risk, safety, and sustainability management, using proprietary datasets and AI to deliver operational intelligence across operations, products, and supply chains.
Climate TechEnterprise SoftwareSaaS
Paul Marushka(CEO and President)
Stack Sports builds SaaS solutions and payment and management tools for sports organizations, national governing bodies, teams, and the volunteers and administrators who run youth, college, and professional sports.
FintechSaaSSports Tech
Tecomet is a contract manufacturer providing end-to-end services from design prototyping to full-scale production for medical device companies.
Advanced ManufacturingHealthtechMedical Devices
Co-investorsCharlesbank Capital Partners
TekniPlex develops and manufactures materials-science-based solutions for the healthcare and consumer products markets, including components for medical devices, drug delivery, and product packaging.
Advanced ManufacturingMedical DevicesNew MaterialsWayne, US
Telestream builds media workflow software and measurement solutions covering the content journey from capture and ingest to delivery, deployable on-premise, in the cloud, or in hybrid environments.
Cloud ComputingMedia & EntertainmentSaaS
Co-investorsBand of Angels
TERREPOWER is a sustainable manufacturing company that remanufactures and extends the life of essential products to reduce waste, operating within the circular economy.
Advanced ManufacturingCircular EconomyCleantech
SEER is a home services group that invests in and partners with local HVAC, plumbing, and electrical companies, allowing operators to keep their brand, leadership, and team while providing capital, operational systems, and field-tested technology.
Enterprise SoftwareSaaS
insightsoftware develops financial planning, accounting, and operations software for the Office of the CFO.
Data & InfrastructureEnterprise SoftwareFintechSaaS
Chris JurasekJennifer Warawa
Co-investorsAndreessen HorowitzNew Enterprise Associates (NEA)
Vector Cares is an initiative from Vector Solutions that offers free interactive online eLearning courses on social awareness and community-focused topics.
EdTechGovTechSaaSTampa, US
Co-investorsNorwest Venture Partners
Woods Equipment manufactures attachments and implements for tractors, including pallet forks and Batwing rotary cutters, aimed at farmers and agricultural operators.
Advanced ManufacturingAgTechHardware
Exits Β· 1
IPOs and acquisitions across the tracked portfolioWEX, Inc.NYSE: WEX
Portfolio news
latest coverage across their companies
Cerity Partners Β· finance.yahoo.com Β· Aug 19, 2026

Enverus Β· biometricupdate.com Β· Jul 16, 2026
Tidemark Β· constructiondive.com Β· Mar 11, 2026
Fund performance Β· per public LP disclosures Β· 21
as of Mar 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Genstar Capital Partners Fund, XI, LPLPs: Empire State Development β New York Ventures | 2023 | β | β | 1.08x | 0.09x |
| Genstar Capital Partners XILPs: Oregon Public Employees Retirement System, California Public Employees' Retirement System, Michigan Municipal Employees' Retirement System +5 more | 2023 | β | β | 1.14x | 0.08x |
| Genstar Capital Partners XIrLPs: Orange County Employees Retirement System | 2023 | β | β | 1.20x | 0.09x |
| Genstar Capital XILPs: Northern LGPS | 2023 | β | β | 1.23x | 0.00x |
| Genstar XI Opportunities FundLPs: Los Angeles City Employees' Retirement System, Oregon Public Employees Retirement System | 2023 | β | β | 1.15x | 0.02x |
| Genstar XI Opportunities Fund I, L.P.LPs: California Public Employees' Retirement System, Michigan Municipal Employees' Retirement System | 2023 | β | β | 1.16x | 0.04x |
| Genstar Capital Partners XLPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, California Public Employees' Retirement System +6 more | 2021 | β | β | 1.10x | 0.04x |
| Genstar Capital Partners X Opportunities ProgramLPs: Ventura County Employees' Retirement Association | 2021 | β | β | 1.23x | 0.06x |
| Genstar Capital XLPs: Northern LGPS | 2021 | β | β | 1.11x | 0.00x |
| Genstar X Opportunities Fund ILPs: California Public Employees' Retirement System, Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System +1 more | 2021 | β | 8.8% | 1.27x | 0.06x |
| Genstar Capital IXLPs: Northern LGPS | 2019 | β | β | 1.99x | 0.69x |
| Genstar Capital Partners IXLPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, Northern LGPS +6 more | 2019 | β | β | 2.17x | 1.07x |
| Genstar Capital Partners IX Opportunities ProgramLPs: Ventura County Employees' Retirement Association | 2019 | β | 20.4% | 2.13x | 0.93x |
| Genstar IX Opportunities Fund ILPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, Los Angeles City Employees' Retirement System | 2019 | β | 20.1% | 2.10x | 0.93x |
| Genstar Capital Partners VIIILPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, Nebraska Investment Council +1 more | 2017 | β | 24.5% | 2.66x | 1.23x |
| Genstar VIII Opportunities FundLPs: Oregon Public Employees Retirement System | 2017 | β | 19.5% | 2.68x | 1.41x |
| Genstar VIII Opportunities Fund ILPs: Michigan Municipal Employees' Retirement System, Oregon Public Employees Retirement System | 2017 | β | 17.6% | 1.60x | 0.29x |
| Genstar Capital Partners VI, L.P.LPs: The Regents of the University of California | 2011 | β | 36.6% | 2.02x | 2.02x |
| Genstar Capital Partners V, LP LBOLPs: California State Teachers' Retirement System | 2007 | β | 15.5% | 2.41x | 2.41x |
| Genstar Capital Partners IV, L.P.LPs: The Regents of the University of California | 2004 | β | 8.3% | 1.51x | 1.51x |
| Genstar Captial Partners VIILPs: West Yorkshire Pension Fund | β | β | β | 2.54x | 2.03x |
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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