LLR
Growth equityPhiladelphia Β· Growth Β· 1 people tracked
Also known as Llr Management Holdco, L.P.
Investment thesis
LLR provides growth equity capital to established businesses, working directly with owners and managers as well as intermediaries. It targets companies with tenured management, organic revenue growth above 10%, meaningful recurring revenue, gross margins over 40%, and an addressable market of at least $500M. The firm invests $10M-$200M for either minority or majority ownership and actively supports buy-and-build strategies through add-on acquisitions of all sizes. As a signatory to the Principles for Responsible Investment, LLR incorporates environmental, social, and governance considerations into its investment approach.
Source: firm website, verified Aug 7, 2026.
Team Β· 1 people
from the firm's websiteWhat they invest in
from 4 of 128 portfolio companiesSaaS Γ3Enterprise Software Γ2GovTech Γ1Healthtech Γ1HR Tech Γ1PropTech Γ1
HQs:United StatesΓ7
Investments Β· 128 tracked
founders shown can be your intro pathDenver, US
Steve Prather(Founder)Robert Green(Founder)Manny Ladis(Founder)Joseph Zell(Director)Brian Armstrong(Director)Brian Wallace(Director)
Fund performance Β· per public LP disclosures Β· 5
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| LLR Equity Partners VIILPs: Pennsylvania Public School Employees' Retirement System, Maryland State Retirement and Pension System | 2023 | β | β | 1.10x | 0.02x |
| LLR Equity Partners VILPs: Pennsylvania Public School Employees' Retirement System, Maryland State Retirement and Pension System | 2020 | β | 5.6% | 1.17x | 0.20x |
| LLR Equity Partners VLPs: Pennsylvania Public School Employees' Retirement System, Maryland State Retirement and Pension System | 2017 | β | 19.0% | 2.32x | 0.74x |
| LLR Equity Partners IVLPs: Pennsylvania Public School Employees' Retirement System, Hawaii Employees' Retirement System, Maryland State Retirement and Pension System | 2013 | β | 27.0% | 2.82x | 2.48x |
| LLR Equity Partners IIILPs: Pennsylvania Public School Employees' Retirement System | 2008 | β | 17.9% | 2.40x | 2.40x |
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
- What stage does LLR invest at?
- LLR invests at the Growth stage.
- What is LLR's typical check size?
- LLR typically writes checks of $10M β $200M.
- What sectors does LLR focus on?
- LLR focuses on Enterprise Software, SaaS, Sector Agnostic.
- Where is LLR located?
- LLR is headquartered in Philadelphia, US.
- Does LLR lead rounds?
- Yes, LLR leads investment rounds.
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