Fundraising Fox

Veritas Capital

Private equity

New York · Growth–Late Stage

Also known as VERITAS CAPITAL FUND MANAGEMENT, L.L.C.

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Investment thesis

Veritas Capital invests at the intersection of technology and government, targeting companies that deliver critical technology or technology-enabled products, services, and software to government and commercial customers. The firm concentrates on industries supported by a government-related customer base or shaped by government regulation and policy, believing these sectors are resilient across macroeconomic cycles, geopolitical events, and political administrations. Its target markets are large and complex, spanning aerospace and defense/national security, healthcare, education, infrastructure, energy, and financial technology. Veritas emphasizes focused expertise and deep understanding of government-influenced markets and regulatory environments to identify and develop key trends and act as a nimble, flexible partner.

Source: firm website, verified Aug 25, 2026.

Stage
Growth–Late Stage
HQ
New York, US
Instruments
Equity · Debt
Founded
1998
AUM
$53.8B
Tracked investments
46

What they invest in

from 20 of 46 portfolio companies

Defense Tech ×7SaaS ×6AI & Machine Learning ×5Hardware ×5GovTech ×4Healthtech ×4Data & Infrastructure ×3Deep Tech ×3

HQs:United States×7

Investments · 46 tracked

founders shown can be your intro path
Abaco Systemsabaco.com

Abaco provides COTS rugged embedded computing products and hardware solutions spanning data capture to information delivery, used to build complete systems for defense and aerospace programs.

Deep TechDefense TechHardware

Co-investorsBooz Allen Ventures

Aeroflex

Radio frequency and microwave integrated circuits, components and systems for aerospace, defense and communications

Alion Science and Technology Corporation

Advanced engineering, IT, naval architecture and operational solutions for government and commercial customers

Anaren

Radio frequency components, assemblies and subsystems for aerospace, defense, wireless, medical and industrial markets

Anthologyanthology.com

Data-driven software solutions enabling higher education institutions to manage the entire student lifecycle.

Co-investorsLeeds

API Healthcare

Healthcare-specific workforce management software for health systems

Co-investorsFrancisco Partners

Aptimaptim.comin

APTIM provides integrated environmental, energy, and infrastructure services and solutions, including sustainability, resilience, remediation, and management of energy, waste, and water resources.

CleantechClimate TechEnergyBaton Rouge, US

Arcfieldarcfield.comin𝕏

Arcfield provides engineering, systems integration, and AI-enabled technology services for defense and intelligence customers, with work spanning space, hypersonic and nuclear deterrence, maritime warfare, and digital transformation.

AI & Machine LearningDefense TechSpace Tech

Athena Innovative Solutions

National security training, analytics, operations, planning and investigative support

BeyondTrust

Cyber security threat management software to reduce IT security risks and simplify compliance reporting.

Co-investorsFrancisco PartnersInsight Partners

BeyondTrust Software

Cyber security threat management software to reduce IT security risks and simplify compliance reporting

Cambium Learning Group

Digital education solutions to school districts, educators, students and parents

Cambiumlearningcambiumlearning.comin𝕏

Cambium Learning is a company whose family of brands offers educational technology products.

EdTech

Candescentcandescent.comin

Candescent provides a digital banking platform for banks and credit unions, covering account opening, consumer and business banking, assisted banking, lending, payments, and identity/security.

AI & Machine LearningFintechSaaS

Chromalloychromalloy.com

Chromalloy develops FAA-approved PMA (Parts Manufacturer Approval) parts and advanced repairs for the gas path of gas turbine engines.

Advanced ManufacturingDeep TechHardware

Coronis Healthcoronishealth.com

Coronis Health provides outsourced revenue cycle management (RCM), medical coding, and billing services for healthcare organizations including community health centers, health systems, hospitals, and physician groups across the US.

Digital HealthHealthtechSaaS

Co-investorsMultiplier CapitalPlexus Capital

Cotiviticotiviti.cominJul 2017

Cotiviti provides healthcare analytics and payment accuracy services aimed at improving financial performance, reducing inefficiency, and enhancing healthcare quality.

AI & Machine LearningData & InfrastructureDigital HealthHealthtechSaaSAtlanta, US

David Beaulieu(Executive Officer)Steve Senneff(Executive Officer)Jonathan Olefson(Executive Officer)J. Douglas William(Executive Officer, Director)Kenneth R. Goulet(Director)James E. Parisi(Director)

CPI International

Components and subsystems for generation, amplification, transmission and reception of microwave signals

Cubiccubic.comin

Cubic provides transit technologies for public transportation agencies, including tap-and-go fare payment systems and intelligent transport management systems.

GovTechHardwareMobility & Transportation

DynCorp International

Specialized mission-critical outsourced technical services for businesses and government agencies

Epiq Solutionsepiqsolutions.comin

Epiq Solutions designs commercial off-the-shelf software-defined radio (SDR) platforms and RF sensing hardware for space, defense, security, and communications applications.

Deep TechDefense TechHardware

Excelitas Technologies

Global optoelectronics provider to military and defense customers and commercial OEMs

FinalSitefinalsite.comin𝕏

Finalsite builds mobile-friendly websites and digital experience tools for K-12 school districts, consolidating district resources, enrollment, program information, and school sites into one organized platform.

EdTechMarketing TechSaaS

Co-investorsSpectrum Equity

Frontgradefrontgrade.comin𝕏

Frontgrade builds electronics and subsystems for mission-critical and defense systems, including precision motion control, edge processing with AI/ML, storage, and RF front ends and modules.

Defense TechHardwareSemiconductors

Gainwell

Technology solutions for the administration and operation of health and human services in the US

Gainwelltechnologiesgainwelltechnologies.comin𝕏

Gainwell Technologies provides cloud-ready technology and services to modernize Medicaid and other public health and human services programs in the United States, serving members, providers, and government program teams.

Digital HealthGovTechHealthtech

Global Healthcare Exchange, LLCghx.comin𝕏

GHX operates a cloud-based supply chain network connecting healthcare providers, suppliers, and distributors to optimize procurement and clinical outcomes.

Data & InfrastructureEnterprise SoftwareHealthtechSaaS

Tina Vatanka Murphy(President and CEO)

Co-investorsGolub GrowthWarburg Pincus

Guidehouse

Management, technology, and risk consulting services to public and commercial markets

HMHhmhco.comin

HMH is an adaptive learning company that builds integrated K–12 education solutions—covering core curriculum, supplemental, intervention, assessment, and professional learning—delivered on a single platform.

AI & Machine LearningEdTechSaaS

Jack Lynch(CEO)Greg Daniel(Chief Marketing Officer)

Co-investorsLumos Capital GroupMoonshots Capital

Integrated Defense Technologies

Advanced electronics and technology products for defense and intelligence applications

KeyPoint Government Solutions

Security-clearance background investigations, employment screenings, and related services for government agencies

McNeil Technologies

Mission-critical language, translation, intelligence, security and related services for US government agencies

Metrostarmetrostar.comin𝕏

MetroStar provides AI, cybersecurity, and digital modernization services to U.S. government and defense clients, including military and civil service organizations.

CybersecurityDefense TechGovTech

onSolve

SaaS-based platform helping organizations mitigate risk and strengthen resilience

Peratonperaton.comin𝕏

Peraton provides national security services and technology to U.S. government customers, including cyber-hardened systems, systems engineering, and mission support across defense, intelligence, and civilian agencies such as the FAA.

AI & Machine LearningDefense TechGovTech

Perspecta

Cyber, data analytics, cloud computing, enterprise IT, systems engineering and background investigation capabilities

Salient Crgt

Agile application development, big data analytics, cyber security and related solutions for US government agencies

Co-investorsFrontenac

SolAero Technologies

Solar cells, solar panels and composite structures for satellites and aerospace applications

StandardAerostandardaero.com

StandardAero is an independent maintenance, repair and overhaul (MRO) provider specializing in gas turbine engines, airframes, avionics, and components.

Advanced ManufacturingDefense TechMobility & Transportation

Syneos Healthsyneoshealth.comin

Syneos Health is a contract research and commercialization services company that supports biopharmaceutical companies in drug development, regulatory affairs, and market launch across therapeutic areas.

Biotech

Co-investorsBCIPatient Square Capital

TRAK Communications

Microwave components and subsystems used in airborne radars, electronic warfare, surveillance and wireless communication

Truven Health Analytics

Healthcare data and analytics for governments, employers, health plans, hospitals, clinicians, and pharma companies

Vencore

Data analytics, system engineering & integration, and cyber security for government and commercial customers

Vertex Aerospace

Aviation-related support services for the US military and various US government agencies

Woodmacwoodmac.comin𝕏

Wood Mackenzie provides data, analytics, and market intelligence for the energy and natural resources industry, covering the energy transition supply chain, commodities, metals and mining, and power trading.

Climate TechData & InfrastructureEnergy

Jason Liu(CEO)

Co-investorsCharterhouse Capital Partners

Fund performance · per public LP disclosures · 15

as of Jun 2025
FundVintageCommittedNet IRRTVPIDPI
The Veritas Capital Fund IX, L.P.LPs: California Public Employees' Retirement System, Empire State Development – New York Ventures20240.00x0.00x
Veritas Capital Fund IXLPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System20240.12x0.00x
Veritas IXLPs: Teachers' Retirement System of Oklahoma20230.12x0.00x
The Veritas Capital Fund VIII, L.P.LPs: California Public Employees' Retirement System, Michigan Municipal Employees' Retirement System, Los Angeles County Employees Retirement Association20229.7%1.21x0.00x
Veritas Capital Fund VIIILPs: Oregon Public Employees Retirement System, Pennsylvania Public School Employees' Retirement System, San Diego City Employees' Retirement System202210.8%1.23x0.03x
Veritas VIIILPs: Teachers' Retirement System of Oklahoma202210.8%1.24x0.00x
VERITAS CAPITAL FUND VII LPLPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, San Diego City Employees' Retirement System +1 more20207.9%1.37x0.01x
Veritas Capital Fund VILPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, Public Employee Retirement System of Idaho +2 more201735.0%2.87x2.35x
Veritas VILPs: Teachers' Retirement System of Oklahoma201735.2%2.84x2.28x
Veritas Capital Fund VLPs: Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System, Hawaii Employees' Retirement System +1 more201517.2%2.55x2.08x
Veritas VLPs: Teachers' Retirement System of Oklahoma201517.2%2.56x2.08x
Veritas Capital Fund IVLPs: Oregon Public Employees Retirement System, Public Employee Retirement System of Idaho201018.8%2.46x2.46x
Veritas IVLPs: San Diego City Employees' Retirement System200918.8%2.39x2.39x
Veritas Capital Fund, L.P.LPs: Connecticut Retirement Plans and Trust Funds199726.9%2.60x2.60x
The Veritas Capital Vantage Fund, L.P.LPs: Los Angeles County Employees Retirement Association, Michigan Municipal Employees' Retirement System, San Diego City Employees' Retirement System8.0%1.22x0.00x

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 Veritas Capital made?
Veritas Capital has 46 tracked investments.
What stage does Veritas Capital invest at?
Veritas Capital invests at the Growth, Late Stage stages.
What sectors does Veritas Capital focus on?
Veritas Capital focuses on AI & Machine Learning, Cybersecurity, Defense Tech, EdTech, Enterprise Software, GovTech, Healthtech, SaaS.
Where is Veritas Capital located?
Veritas Capital is headquartered in New York, US.
Who does Veritas Capital co-invest with?
Veritas Capital most often shares deals with BCI, Francisco Partners, Aspect Ventures, among 26 tracked co-investors.

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