Growth-focused private equity firm
Cohere Capital
- HeadquartersBoston, MA S1
- Founded2019 S2
- Websitecoherecapital.com
- Last verifiedNovember 2, 2026
At a glance
| Latest fund | Cohere Capital Fund II, $215M (Jan 2025) S2 |
|---|---|
| EBITDA range | Up to $20M S1 |
| Deal types | Platform, Minority, Growth S1 |
| Geography | United States, Canada S2 |
| Sectors | IT Services & MSP, Software & SaaS, Accounting & Professional Services, Consumer & Food |
What Cohere Capital buys
Cohere Capital is a Boston private equity firm launched in 2019 and co-founded by Nik Shah, a former H.I.G. Growth Partners managing director, and Daniel Gedney. It backs growing technology and tech-enabled services companies. Its holdings include two cloud consulting and IT services firms (ClearScale for AWS and Promevo for Google), software and ad tech businesses, digital marketing services for small businesses, an audit recovery firm, an e-commerce retailer and a Club Pilates franchise group.
It looks for companies worth less than $250 million with up to $20 million of EBITDA that are growing at least 10% a year or have a clear growth plan. Cohere takes either a majority stake or a sizable minority stake, so an owner can sell part of the company and keep majority ownership. It invests from its second fund, which closed with more than $215 million in January 2025 alongside a strategic partnership with TPG. No minimum size is published.
Recent deals
Announced in the 24 months before November 2, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jan 2026 | FlexTecsStrategic investment in an Atlanta recovery audit and payment accuracy firm with its own software; the existing leaders stay in charge | Investment | Accounting & Professional Services | Source |
| 2026 | Renew FitnessClub Pilates franchise group based in Birmingham, Michigan, that owns and develops studios in New York, Michigan and Maryland | Platform | Consumer & Food | Source |
| Sep 2025 | LeveregeGrowth investment in a Rockville, Maryland vision AI and IoT software company | Growth | Software & SaaS | Source |
| Jan 2025 | Cohere Capital Fund IISecond fund closed with more than $215 million of commitments, alongside a strategic partnership with TPG | Fund close | Source |
Portfolio by sector
From the firm's portfolio page S1.
Advertising Technology
- Sonobi
Audit Recovery Solutions
- FlexTecs
Boutique Fitness
- Renew Fitness
Cloud Services
- ClearScale
Digital Engagement and Loyalty Solutions
- Phaedon
Digital Marketing Technology
- iPromote
eCommerce
- CCS
IT Services and Software
- Promevo
Tech-Enabled Marketing Services
- Boostability
Vision AI Software
- Leverege
Greymont’s take
How Cohere Capital fits a seller
Cohere suits the founder of a growing technology or tech-enabled services company who wants capital and help to scale, with the option of selling only part of the business. Its announcements describe growth investments where the current leaders keep running the company; the January 2026 FlexTecs release said the existing team would continue to lead with guidance from Cohere and its board advisors. Growth is the main test: the firm looks for at least 10% annual growth or a clear plan to reach it, so a flat, mature business is a weaker fit. Several holdings date from 2019 to 2022 and none is shown as sold, so owners should ask how long Cohere usually holds, how it expects to exit, and what rights it takes with a minority stake, such as board seats and a say over a future sale.
Questions owners ask
Does Cohere Capital invest in IT services companies?
Yes. Its active holdings include ClearScale, an AWS cloud consulting firm it backed in 2019, and Promevo, a Google partner that provides and manages Google Workspace, Google Cloud and Chrome Enterprise for clients, backed in 2021.
Will Cohere Capital take a minority stake?
Yes. It invests as either a majority owner or an influential minority partner, which lets an owner sell part of the company to fund growth while keeping a large stake and a say in the business.
What size company does Cohere Capital look for?
Companies worth under $250 million with up to $20 million of EBITDA, growing at least 10% a year or with an established growth thesis. It does not publish a revenue or EBITDA minimum.
Sources
- S1Cohere Capital home page (focus, fund, investments, team) Accessed November 2, 2026
- S2Cohere Capital: Press Releases Accessed November 2, 2026
- S3FlexTecs Announces Strategic Investment From Cohere Capital (PR Newswire, January 22, 2026) Accessed November 2, 2026
- S4Cohere Capital Completes Strategic Growth Investment in Leverege (Business Wire, September 24, 2025; linked from Cohere's press page, not readable by our fetcher) Accessed November 2, 2026
- S5Cohere Capital Announces Close of Fund II and Strategic Partnership with TPG (Business Wire, January 15, 2025; linked from Cohere's press page, not readable by our fetcher) Accessed November 2, 2026
- S6Cohere Capital: Renew Fitness Accessed November 2, 2026
- S7Cohere Capital: ClearScale Accessed November 2, 2026
- S8Cohere Capital: Promevo Accessed November 2, 2026
- S9Cohere Capital: Nik Shah, Managing Partner and Co-Founder Accessed November 2, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Cohere Capital. Figures are as reported on the dates shown and may have changed. Request a correction