Fundraising FoxWindjammer Capital
Private equityWaltham · Growth · 36 people tracked
Also known as Windjammer Management Partners, L.P.
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Investment thesis
Windjammer makes control equity investments in middle-market businesses across advanced manufacturing, specialty distribution, and business services. It targets niche market leaders with mission-critical products or services, a high value-to-cost proposition, scalable business models, and a history of consistent earnings. The firm partners with portfolio company leadership to support strategic initiatives that drive growth and improve profitability, drawing on a bench of investment professionals, experienced operating partners, and strategic operating consultants. Target platform companies are U.S. and Canada-based with EBITDA of $8M-$50M, with equity investment sizes of $50M-$200M and add-on acquisitions of any size, both domestic and cross-border.
Source: firm website, verified Sep 29, 2026.
Team · 36 people
from the firm's website
What they invest in
from 22 of 55 portfolio companiesAdvanced Manufacturing ×16Hardware ×14New Materials ×6Energy ×5Enterprise Software ×5Circular Economy ×3Cleantech ×3Healthtech ×3
HQs:United States×13Germany×1
Investments · 55 tracked
founders shown can be your intro pathA cooler design for gas compression equipment that is widely used across the industry.
Advanced ManufacturingEnergyHardware
AXH manufactures air-cooled heat exchangers for industrial applications including natural gas compression, power generation, and process industries.
Advanced ManufacturingEnergyHardwareUnknown - not stated on page, US
TERREPOWER remanufactures essential products to extend their life cycle, reduce waste, and provide sustainable manufacturing solutions to industrial customers.
Advanced ManufacturingCircular EconomyClimate Tech
Supplier of 400+ research-use monoclonal antibodies serving academic, government, and commercial research customers worldwide.
Compex Legal provides medical record retrieval and litigation support services for insurance carriers, law firms, third-party administrators, and custodians.
AI & Machine LearningHealthtechInsurTechLegalTechTorrance, US
Component Hardware Group manufactures custom wire harnesses and cable assemblies for original equipment manufacturers in food service, healthcare, industrial, and commercial sectors.
Advanced ManufacturingFoodTechHardware
Fecon manufactures vegetation management and natural resource recovery equipment, including forestry mulching heads and mulching tractors such as the FTX600, for the forestry and organic resource recovery industries.
Advanced ManufacturingAgTechConstruction TechHardwareLebanon, US
Bob Dieckman(Chief Executive Officer)Jeff Stanley(Chief Commercial Officer)inJeff Smith(Chief Financial Officer)Brandon Flexsenhar(Chief Operating Officer)in
Co-investorsLFM Capital, LLC
Multichannel marketer of science-oriented educational products, content, and lab management SaaS to K-12 and Higher Education markets.
Provider of advanced microelectronic packages, engineered components, and interconnect solutions for defense, medical device, and industrial systems.
Co-investorsArcline Investment ManagementShoreView Industries
Hilco Vision manufactures and distributes lens care products including cleaners, wipes, and protective accessories for eyewear.
ConsumerE-commerceHealthtechMedical Devices
Girisha Chandraraj(CEO)in
B2B direct marketer of radio frequency, microwave, and fiber optic connectors, cables, and components.
Co-investorsGenstar
IPS Group provides cloud-based parking and mobility management software for higher education institutions and cities, offering solutions for permit management, enforcement, payment processing, and real-time data analytics.
GovTechIoTMobility & TransportationPropTechSaaSUSA, US
David Kingin
Co-investorsMerian Ventures
itel provides a mobile platform that delivers pricing, roof repairability analysis, and material matching for insurance claims professionals in minutes, enabling adjusters and contractors to make consistent determinations in the field across residential property damage claims.
Enterprise SoftwareInsurTechSaaS
Channel Monster is a sewer grinder designed for wastewater treatment facilities to grind solids, rags, and wipes before they reach pumps or treatment equipment.
Advanced ManufacturingCleantechHardwareSanta Ana, US
Maxcess manufactures and integrates web handling components and solutions for industrial converting and processing lines.
Advanced ManufacturingEnterprise SoftwareHardwareIoTMelrose Park, US
MFG Chemical is a chemical manufacturer with multiple production facilities that emphasizes sustainable practices, resource conservation, and pollution prevention.
Advanced ManufacturingCleantechEnergyNew MaterialsChattanooga, US
Paul(Chief Executive Officer)Mike(Vice President, Water Additives)
Distributor of genuine OEM repair and maintenance parts for commercial kitchen equipment, with an e-commerce platform and field service support.
Co-investorsLeonard GreenSummit Partners
PDU Cables manufactures prefabricated power distribution cable assemblies for data centers, along with cable sealing and cooling efficiency products.
Advanced ManufacturingData & InfrastructureHardwareMinneapolis, US
Troy Peterson(President)in
Hudson Technologies is a U.S. manufacturer of deep drawn seamless metal enclosures (cases), stampings, and metal diaphragms, working with metals such as stainless steel, titanium, aluminum, brass, copper, and shielding alloys.
Advanced ManufacturingDefense TechHardwareNew MaterialsWaterbury, US
Radix designs and manufactures specialized electrical wire and cable for high-temperature and extreme-environment applications, including fire-protective solutions certified to major safety standards.
Advanced ManufacturingHardwareNew MaterialsNortheast Ohio, US
Co-investorsHigh Road Capital Partners
Rotex Group manufactures APEX industrial screeners—precision separation and filtration equipment with gyratory reciprocating motion technology designed for high-efficiency particle classification in processing operations.
Advanced ManufacturingAgTechCircular EconomyHardware
Lawrence Rentzin
The Rowmark Group (TRG) manufactures engravable signage and personal identification materials, laminated sheets and films, and custom extruded plastics, and provides equipment, custom fabrication, and e-commerce solutions.
Advanced ManufacturingE-commerceNew Materials
North American manufacturer of private label dry shelf-stable dinners and side dishes.
The Rowmark Group manufactures engineered plastic materials, signage substrates, and fabrication equipment for industrial and commercial customers globally.
Advanced ManufacturingHardwareNew Materials
VRC Companies operates a family of information management brands serving over 35,000 clients across more than 200 markets, providing document management, records storage, healthcare compliance, secure destruction, and digital transformation solutions for businesses and healthcare providers.
Circular EconomyData & InfrastructureEnterprise SoftwareHealthtechLegalTechSaaS
Danny Palo(Chief Executive Officer)inDan McFarland(Chief Administrative Officer)inKelly Luttrell(Chief Financial Officer)inChris Ferrell(Chief Development Officer)in
Wunder-Bar manufactures dispensing systems for beverages and food products used in bars, restaurants, and foodservice venues worldwide.
Advanced ManufacturingFoodTechHardwareRetail Tech
Co-investorsKleiner Perkins
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Advanced InstrumentsAicompaniesAutomatic Bar ControlsCompexEPCOGlobal Claims ServicesHealthSTARHeritage Food Service Group, Inc.Heritage Foodservice GroupHeritagepartsHilcoHydrolixMaxcessMaxcess International CorporationMcKenzieMcKenzie Sports Product, Inc.Mission Critical ElectronicsParagon Energy SolutionsPasternackPrecisionX GroupPropel HealthPropellRegO Engineered Controls InternationalRegoproductsRETECThe RETEC Group, Inc.TRG
Portfolio news
latest coverage across their companiesVital Records Control · finance.yahoo.com · Jul 21, 2026
Fund performance · per public LP disclosures · 4
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Windjammer Capital Fund VILPs: Minnesota State Board of Investment | 2023 | — | -18.5% | 0.75x | 0.00x |
| Windjammer Senior Equity Fund V, L.P.LPs: Minnesota State Board of Investment | 2017 | — | 14.8% | 1.57x | 0.86x |
| Windjammer Senior Equity Fund IV, L.P.LPs: Minnesota State Board of Investment | 2012 | — | 15.6% | 2.34x | 1.79x |
| Windjammer Mezzanine & Equity Fund IILPs: Minnesota State Board of Investment | 2000 | — | 9.0% | 1.56x | 1.56x |
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 Windjammer Capital made?
- Windjammer Capital has 55 tracked investments.
- What stage does Windjammer Capital invest at?
- Windjammer Capital invests at the Growth stage.
- What is Windjammer Capital's typical check size?
- Windjammer Capital typically writes checks of $50M – $200M.
- What sectors does Windjammer Capital focus on?
- Windjammer Capital focuses on Advanced Manufacturing, Cleantech, Consumer, Defense Tech, Energy, FoodTech, Logistics & Supply Chain, Medical Devices, New Materials, Sector Agnostic.
- Where is Windjammer Capital located?
- Windjammer Capital is headquartered in Waltham, US.
- Does Windjammer Capital lead rounds?
- Yes, Windjammer Capital leads investment rounds.
- Who does Windjammer Capital co-invest with?
- Windjammer Capital most often shares deals with Blumberg Capital, Fulcrum Equity Partners, GSV Ventures, among 27 tracked co-investors.
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