Incline
Private equityPittsburgh · Growth
Investment thesis
Incline Equity focuses on durable businesses with multiple ways to win, investing in services, value-added distribution, software and technology, and specialized light manufacturing. It pursues buyouts, corporate divestitures, and minority recapitalizations of companies in the USA or Canada with enterprise values between $25MM and $750MM (no minimum for add-ons). The firm emphasizes a hands-on, collaborative model, providing dedicated teams and resources such as its Catalyst Group and Incline Intelligence to help execute tailored value creation plans covering operations, add-on acquisitions, talent development, and core functions like sales, technology, and finance.
Source: firm website, verified Aug 25, 2026.
What they invest in
from 2 of 13 portfolio companiesHealthtech ×1SaaS ×1
HQs:United States×1
Investments · 13 tracked
founders shown can be your intro pathA subscription-based membership network for independent collision repair shops.
Command offers in-person surveillance conducted by licensed private investigators, providing discreet mobile monitoring and subject tracking for investigations.
SaaS
VMG Health provides business and financial advisory services to healthcare clients, serving organizations across all 50 U.S. states.
Healthtech
Co-investorsNorthlane Capital Partners
Fund performance · per public LP disclosures · 6
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| INCLINE ELEVATE FUND II LPLPs: Pennsylvania Public School Employees' Retirement System, University of Texas Investment Management Company | 2022 | — | -1.1% | 0.98x | — |
| Incline Equity Partners V, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2020 | — | -0.9% | 0.98x | 0.01x |
| Incline Elevate Fund, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2019 | — | 93.6% | 2.45x | 1.43x |
| Incline Equity Partners IVLPs: Pennsylvania Public School Employees' Retirement System, Texas Municipal Retirement System, Los Angeles City Employees' Retirement System | 2017 | — | 22.1% | 1.95x | 1.49x |
| Incline Equity Partners IIILPs: Pennsylvania Public School Employees' Retirement System, New York City Police Pension Fund | 2012 | — | 37.3% | 2.60x | 2.60x |
| Incline Equity Partners III (PSERS), L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2011 | — | 34.9% | 2.71x | 2.70x |
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 Incline made?
- Incline has 13 tracked investments.
- What stage does Incline invest at?
- Incline invests at the Growth stage.
- What is Incline's typical check size?
- Incline typically writes checks of $25M – $750M.
- What sectors does Incline focus on?
- Incline focuses on SaaS, Sector Agnostic.
- Where is Incline located?
- Incline is headquartered in Pittsburgh, US.
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