Private equity fund backing search fund entrepreneurs
Anacapa Partners
- HeadquartersSan Mateo, CA S7
- Founded2010 S6
- Websiteanacapapartners.com
- Last verifiedOctober 19, 2026
At a glance
| EBITDA range | $1.5M to $5M S3 |
|---|---|
| Deal types | Platform S2 |
| Sectors | Software & SaaS, Healthcare Services, IT Services & MSP, Environmental & Waste, Accounting & Professional Services |
What Anacapa Partners buys
Anacapa Partners is a San Mateo, California fund that backs search fund entrepreneurs: usually early-career operators who raise money to find, buy and then run a single established company. Anacapa funds the search, helps the searcher screen and negotiate the purchase, invests equity in the acquired business and sits on the board of some of its companies. It has no industry focus. Instead it wants profitable, growing companies earning roughly $1.5 million to $5 million or more of EBITDA, with strong margins, predictable recurring revenue, modest capital needs and a layer of managers below the owner who will stay.
Its ideal seller is leaving for personal reasons such as retirement rather than because the business is struggling, and it prefers simple, stable companies with little risk of being made obsolete by technology or regulation. Anacapa currently backs about 30 active searchers, most of them in US cities, and lists more than 50 current operating companies, from software and healthcare services to IT support and industrial waste management. An owner will usually meet Anacapa through one of those searchers.
Portfolio by sector
From the firm's portfolio page S5.
Operating Companies
- AdComp Systems Group
- American Vision Group
- Aspen Ridge Recovery
- Auronix
- BeeckerCo
- Big Box Storage
- BroadPeak Partners (K3)
- Cerbo
- Community Resource and Support Services
- Constellant
- Dooblo
- DSD Partners
- Energy Ogre
- Falcon Critical Care Transport
- Frotcom
- gFour Marketing
- GoBuySide
- Greenback Tax Services
- Grupo ALUS
- HousingWire
- i4PRO
- ICS
- Infosel
- IS Entrega
- ISI Telemanagement Solutions
- JDXpert
- Lion Industrial Resources
- Loftey
- Management One
- maxRTE
- Meridian Title
- Metabolic Solutions
- Moneta
- myLIMS
- Nexti
- Objective Management Group
- Omatic Software
- Out of the Box Technology
- Oxymed
- Paragon Legal Group
- ProAgro
- Quick Soft
- RDI
- Risk Mitigation Consulting
- Servnet
- Shandy Clinic
- Spivey Rentals
- Subatomic Digital
- TESI
- The Haven at College
- UnitedLayer
- United Pet Care
- Virtual Officeware
- Voke
Greymont’s take
How Anacapa Partners fits a seller
Anacapa is a good match for an owner of a steady, profitable business with about $1.5 million to $5 million of EBITDA who is ready to step back, often to retire, and would rather hand the company to a single owner-operator than to a large corporate buyer. In a search fund deal the searcher becomes the new chief executive, so the owner passes on day-to-day leadership. Anacapa says it looks for businesses where management can avoid radical changes in the first 12 to 18 months, which can reassure employees and customers.
Because the buyer is one person backed by a group of investors, owners should ask how much operating experience the searcher has, how the purchase will be financed, whether part of the price is deferred or tied to future results, and what role the owner is expected to play during the handover.
Questions owners ask
What is a search fund, and how does Anacapa fit in?
A search fund lets an aspiring entrepreneur raise money to find, buy, run and grow one company. Anacapa invests in these searchers, helps them screen and negotiate deals, and invests again when they buy a business.
What size company does Anacapa look for?
Its criteria call for a profitable company currently earning $1.5 million to more than $5 million of EBITDA, with strong margins, predictable recurring revenue and low to moderate capital needs.
Does Anacapa focus on particular industries?
No. It screens on business traits rather than sector, favoring growing, fragmented markets without a dominant competitor, low operational complexity and little exposure to technology, regulatory or fad risk.
Sources
- S1Anacapa Partners home page Accessed October 19, 2026
- S2Anacapa Partners: Our Strategy Accessed October 19, 2026
- S3Anacapa Partners: Investment Criteria Accessed October 19, 2026
- S4Anacapa Partners: Our Philosophy Accessed October 19, 2026
- S5Anacapa Partners: Portfolio Accessed October 19, 2026
- S6Anacapa Partners: Team Accessed October 19, 2026
- S7Anacapa Partners: Contact Us (office address) Accessed October 19, 2026
- S8Anacapa Partners: Search Fund Background Accessed October 19, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Anacapa Partners. Figures are as reported on the dates shown and may have changed. Request a correction