Lower middle market private equity and growth equity firm
M-One Capital
Formerly McCarthy Capital
- HeadquartersOmaha, NE S2
- Founded1986 S2
- Websitem-onecapital.com
- Last verifiedOctober 19, 2026
At a glance
| Assets under management | $4B (as of October 2026) S2 |
|---|---|
| Latest fund | M-One Capital Fund VIII (raised as McCarthy Capital Fund VIII), $870M (Apr 2024) S6 |
| Revenue range | $15M+ S3 |
| Check size | $30M to $125M S3 |
| Deal types | Platform, Minority, Growth S3 |
| Sectors | Software & SaaS, Consumer & Food, Healthcare Services, Dental, Wealth Management |
What M-One Capital buys
M-One Capital, called McCarthy Capital until September 2025, is an employee-owned investment firm in Omaha, Nebraska, founded in 1986. Its team manages nearly $4 billion and is investing its $870 million Fund VIII. The core private equity strategy puts $30 million to $125 million of equity into companies with at least $15 million of revenue, proven profits and, ideally, recurring revenue. Its main areas are business services and software, consumer products and franchising, staffing and healthcare, and financial services such as wealth management.
M-One is built for owners and managers who want to stay invested. It takes majority or minority stakes, usually holds common equity next to management, uses limited debt, charges no consulting fees and prefers long holds. It says it will not do deals where management does not want to keep a meaningful stake. A separate Emerging Growth strategy puts $5 million to $20 million into younger companies with at least $1 million of recurring revenue.
Recent deals
Announced in the 24 months before October 19, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Oct 2026 | Scooter's CoffeeMoved into a single-asset continuation vehicle; M-One raised its stake in the drive-thru coffee franchisor it has backed since 2018 | Investment | Consumer & Food | Source |
| Sep 2026 | KipsuMinority investment in a Minneapolis customer experience software company; the founder stays as CEO | Minority | Software & SaaS | Source |
| Jul 2026 | Shared Practices GroupMinority investment in a dentist-led support organization with 48 denture and implant locations | Minority | Dental | Source |
| Jul 2026 | SmartlinkSale of the digital infrastructure services provider after a six-year hold | Exit | Source | |
| Dec 2025 | Guild HoldingsMortgage company held since 2007 was bought by a Bayview fund; the sale closed November 28, 2025 | Exit | Source | |
| Sep 2025 | BenefitFlowEmerging Growth investment in a sales intelligence platform for the benefits and insurance market | Growth | Software & SaaS | Source |
| Sep 2025 | ChronicCareIQEmerging Growth investment in a chronic care management and remote patient monitoring platform | Growth | Software & SaaS | Source |
Portfolio by sector
From the firm's portfolio page S5.
Current Investments
- Kipsu
- Shared Practices Group
- NUSO
- Critical Response Group
- Progressive Dental Marketing
- Navigate Wellbeing Solutions
- Omaha Steaks
- Medaxion
- Caraway
- WellnessLiving
- Kinsta
- Docufree
- U.S. Medical Staffing
- CPaT Global
- Rently
- OneCare
- Bigbelly
- Spreetail
- Telementum
- Triage Staffing
- United Real Estate Group
- Altair Global
- Scooter's Coffee
- Bridges Trust
- Life Care Services
- ReAlign Insurance Holdings
- Tran Capital Management
Emerging Growth Investments
- BenefitFlow
- ChronicCareIQ
Greymont’s take
How M-One Capital fits a seller
M-One fits owners who want to take some money off the table but keep running the business and keep a meaningful stake. Its criteria say it passes on deals where management does not want to stay invested, so it is a poor match for an owner who wants a clean, full exit. Recent deals follow that pattern: Shared Practices Group and Kipsu both took minority investments in 2026, and Kipsu's founder stayed on as CEO.
M-One also holds for a long time. It owned Guild Holdings for 18 years and has backed Scooter's Coffee since 2018, moving it into a continuation vehicle in 2026 rather than selling. Owners should ask whether the deal will be majority or minority, what board and veto rights come with M-One's stake, and who decides when and how the company is eventually sold.
Questions owners ask
Is McCarthy Capital the same firm as M-One Capital?
Yes. McCarthy Capital, founded in Omaha in 1986, rebranded as M-One Capital in September 2025. The firm says its approach of partnering with management teams that keep meaningful ownership did not change.
What size company does M-One Capital invest in?
Its core private equity strategy invests $30 million to $125 million in companies with at least $15 million of annual revenue and proven profits. Its Emerging Growth strategy invests $5 million to $20 million in companies with at least $1 million of recurring revenue.
Can I sell all of my company to M-One Capital?
Usually not. M-One says it does not pursue deals where management does not want to keep meaningful ownership, and it typically holds common equity next to managers who keep operating control and a significant stake.
Does M-One Capital invest in dental and healthcare businesses?
Yes. In July 2026 it made a minority investment in Shared Practices Group, a dentist-led support organization with 48 denture and implant locations. Its current portfolio also includes Progressive Dental Marketing, OneCare and Triage Staffing.
Sources
- S1M-One Capital home page Accessed October 19, 2026
- S2M-One Capital: About Accessed October 19, 2026
- S3M-One Capital: Private Equity Investment Focus Accessed October 19, 2026
- S4M-One Capital: Investment Focus (private equity, Emerging Growth and real estate) Accessed October 19, 2026
- S5M-One Capital: Portfolio Accessed October 19, 2026
- S6McCarthy Capital Closed $870 Million Private Equity Fund (April 1, 2024) Accessed October 19, 2026
- S7McCarthy Capital Rebrands as M-One Capital (September 23, 2025) Accessed October 19, 2026
- S8M-One Capital News 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 M-One Capital. Figures are as reported on the dates shown and may have changed. Request a correction