Growth equity and structured capital firm
Level Equity
- HeadquartersNew York, NY S2
- Founded2009 S2
- Websitelevelequity.com
- Last verifiedOctober 20, 2026
At a glance
| Assets under management | $6.4B (as of Mar 2026) S4 |
|---|---|
| Latest fund | Level Structured Capital III, $293.5M (Mar 2026) S4 |
| Revenue range | $5M+ S2 |
| Deal types | Growth, Minority, Platform, Add-on S2 |
| Geography | North America, Europe, Israel, Australia and New Zealand S2 |
| Sectors | Software & SaaS, Cybersecurity, Property Management & HOA |
What Level Equity buys
Level Equity is a New York growth equity firm, founded in 2009, that backs fast-growing B2B software and tech-enabled companies in the lower middle market. It runs two strategies. Its growth equity funds take minority or majority stakes, including recapitalizations, in companies that usually have at least $5 million of recurring revenue and have raised little institutional money. Its structured capital funds offer $3 million to $30 million of flexible credit or structured equity for companies that want to limit dilution. Level invests across North America, Europe, Israel, Australia and New Zealand and has made more than 125 investments.
It closed $1.4 billion of growth equity funds in March 2025 and a $293.5 million structured capital fund in March 2026, when it managed about $6.4 billion. Level is a software investor first, but it was the first institutional investor in PURE Property Management, now PURE HomeRiver, which buys single-family rental property management companies across the US. Owners of those firms are most likely to meet Level through PURE HomeRiver.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | VivoAquaticsInverness Graham led a majority recapitalization of the water risk management company; Level still lists it as active | Exit | Source | |
| Jun 2026 | B Online LearningAcquired by Acorn, Level's Australian learning management software company | Add-on | Source | |
| May 2026 | SymplastGrowth financing from Level Structured Capital for the medical aesthetics practice software company | Investment | Software & SaaS | Source |
| Mar 2026 | Level Structured Capital IIIFinal close at $293.5 million, above its $225 million target; Level says it raised $2 billion across funds in 18 months | Fund close | Source | |
| Feb 2026 | CyberFOXGrowth financing for a Tampa cybersecurity software provider that sells to managed service providers and IT teams | Growth | Cybersecurity | Source |
| Dec 2025 | ECPGrowth financing for clinical and operations software used by assisted living and disability care communities | Growth | Software & SaaS | Source |
| Oct 2025 | Sway MedicalAcquired by Healthy Roster, Level's injury management software company for athletic trainers | Add-on | Source | |
| Sep 2025 | ActiveComplyMajority growth investment in an Orlando compliance software company for banks, lenders and insurers; a new CEO joins | Growth | Software & SaaS | Source |
| Sep 2025 | Osprey Flight Solutions£40 million growth investment in a UK aviation risk intelligence software company | Growth | Software & SaaS | Source |
| Aug 2025 | PSTraxInvestment in asset and inventory software for fire and EMS departments | Growth | Software & SaaS | Source |
| Jun 2025 | Jaan Health (Phamily)$15 million of non-dilutive growth capital from Level Structured Capital for the chronic care software company | Investment | Software & SaaS | Source |
| May 2025 | ClientelaClienteling business acquired by Salesfloor, Level's retail selling software company | Add-on | Source | |
| Apr 2025 | PrismmEvent design software company, a structured capital holding, sold to Cvent | Exit | Software & SaaS | Source |
| Apr 2025 | Sassafras SoftwareSoftware asset management company acquired by TeamDynamix | Add-on | Source | |
| Mar 2025 | Level Equity Growth Partners VI and Level Equity Opportunities Fund 2025Growth equity funds closed at their $1.4 billion cap, up from $1.125 billion for the 2021 funds | Fund close | Source | |
| Jan 2025 | Satisfi LabsStructured growth funding for a conversational AI platform used by sports, entertainment and tourism venues | Investment | Software & SaaS | Source |
| Jan 2025 | FileCloudStructured growth funding for the Austin file sharing and data governance software company | Investment | Software & SaaS | Source |
| Jan 2025 | cplaceGrowth investment in a Munich project and portfolio management software company | Growth | Software & SaaS | Source |
Portfolio by sector
From the firm's portfolio page S3.
Growth Equity
- Acorn
- ActiveComply
- BigTime Software
- Carrot
- Casago
- Charted
- Cheqroom
- Chronus
- CivicPlus
- Clari
- Clew
- Collaborative Boating (Boatsetter)
- cplace
- CyberFOX
- Dash Social
- ECP
- eftsure
- EHS Insight
- EnergySys
- Evaneos
- Firm360
- Fivetran
- FormAssembly
- Foxen
- Fusion Risk Management
- Headversity
- Healthy Roster
- Higher Logic
- Hoxhunt
- Inbenta AI
- Leonardo247
- Lock8
- Lytho
- Mixbook
- Movista
- Net Health
- onPhase
- OrgChart
- Osprey Flight Solutions
- Planet DDS
- Powell Software
- Prism PPM
- Provi
- PSTrax
- Pure HomeRiver
- Radix
- Ready Education
- Relay
- RightData
- RocketRez
- Salesfloor
- Security Journey
- simPRO
- Stack Construction Technologies
- Stova
- Sunwave Health
- TeamDynamix
- TeamSupport
- Tripleseat
- TrueComp
- Tulip
- Uberall
- Upshop
- Vacasa
- VivoAquatics
- Volue
- Workstep
Structured Capital
- Blackthorn.io
- Concept3D
- FileCloud
- Legato Security
- MachineMetrics
- Management One
- NinjaCat
- Ninth Wave
- Omega Point
- Phamily
- Satisfi Labs
- SimplyInsured
- Symplast
- Tenovos
- Wellright
Greymont’s take
How Level Equity fits a seller
Level fits founders of capital-efficient software companies who want growth money and may not want to hand over control. Its growth deals can be minority or majority. In September 2025 it became majority investor in ActiveComply and a new CEO came in, so founders should not assume the management team stays the same in a majority deal. Owners who want to give up as little equity as possible can look at Level Structured Capital, which provides $3 million to $30 million with moderate covenants and limited governance.
Level is not a typical buyer of service businesses. The exception is single-family rental property management, where PURE HomeRiver has grown by buying independent managers since Level put $50 million into PURE in 2022. Owners should ask whether Level is taking a minority or majority stake, what board and approval rights come with a structured capital deal, and how Level usually exits; it reports more than 60 liquidity events.
Questions owners ask
Is Level Equity a venture capital firm?
No. Level describes itself as a growth equity and structured capital investor in the lower middle market. Its growth funds look for companies with at least $5 million of recurring revenue and little prior institutional funding, not early-stage startups.
Does Level Equity buy majority stakes?
Sometimes. It offers both minority growth capital and majority growth equity and recapitalizations. In September 2025 it became the majority investor in ActiveComply, a compliance software company in Orlando, Florida.
How much does Level Structured Capital invest?
Structured capital deals range from $3 million to $30 million of flexible credit or structured equity, designed to limit dilution. Its third structured capital fund closed at $293.5 million in March 2026.
Does Level Equity invest in property management companies?
Indirectly. In 2022 it was the first institutional investor in PURE Property Management, which has since merged with HomeRiver Group. The combined PURE HomeRiver buys single-family rental management companies and manages more than 40,000 homes.
Sources
- S1Level Equity home page Accessed October 20, 2026
- S2Level Equity: Our Business (history, transaction types, strategies) Accessed October 20, 2026
- S3Level Equity: Our Investments Accessed October 20, 2026
- S4Level Equity Announces Final Close of Level Structured Capital III (PR Newswire, March 11, 2026) Accessed October 20, 2026
- S5Level Equity Closes Oversubscribed Growth Equity Funds at $1.4 Billion (PR Newswire, March 31, 2025) Accessed October 20, 2026
- S6Level Equity: PURE HomeRiver investment page Accessed October 20, 2026
- S7PURE Property Management Raises $50 Million from Level Equity (February 2, 2022) Accessed October 20, 2026
- S8Level Equity: Legato Security investment page Accessed October 20, 2026
- S9Level Equity: News Accessed October 20, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Level Equity. Figures are as reported on the dates shown and may have changed. Request a correction