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BELEGAER CAPITAL

Operator-Led Search Fund: Investing in Scalable, Growth-Ready Businesses

$1M-$10M 

Target EBITDA

60 – 90 DAYS

Target Close

3.5x–4.5x

Target MOIC

+5% TO +15% MARGIN

EBITDA Expansion

ABOUT US

We partner with exceptional people to build exceptional businesses.

Belegaer Capital is an operator-led search fund that acquires, grows, and scales enduring businesses through disciplined, deal-by-deal investing and operator alpha.

We blends lower-middle-market search discipline with hands-on, executive GTM leadership, partnering with founders, co-investors, and operators to turn $1M–$10M EBITDA enterprises into market leaders.

OUR SERVICES

We back elite operators, protect founder legacies, and engineer outsized investor returns.

Frequently asked questions

SELL YOUR BUSINESS

60–90 Day Timeline to Close

>60% Recurring Revenue Focus

Looking to exit without the complexity of big funds? We offer founder-friendly deals and step in as hands-on operators committed to long-term growth.

Sell Your Business I Belegaer Capital
Sell Your Business I Belegaer Capital
Business Meeting I Belegaer Capital

OUR INVESTMENT CRITERIA

$1M–$10M

Target EBITDA

$5M–$60M

Valuation Range

We acquire profitable, resilient lower-middle-market companies with proven cash flow, flexible transition needs, and clear commercial growth potential.

OPERATOR ALPHA

+5–15pt

EBITDA margin uplift

3.0x+

Target LTV:CAC

We embed as hands-on, executive operators to unlock commercial growth—partnering with founders, boards, and investors to execute high-impact GTM strategy.

Operator Services I Belegaer Capital
Co-Invest With Us I Belegaer Capital

CO-INVEST WITH US

3.5x – 4.5x

Target Portfolio MOIC

100%

Deal-by-Deal Transparency

We don’t deploy capital through blind-pool funds. We offer co-investors full control, complete visibility, and direct access to vetted $1M–$10M EBITDA acquisitions where operational firepower is the alpha.

We bring together founders, operators, and capital to build better businesses.

Our model blends the best of three worlds:

  • Lower middle market focus – We acquire profitable $1M–$10M EBITDA businesses where the growth constraint is commercial, not financial.

  • Deal-by-deal discipline – We move fast, without the red tape of blind funds.

  • Operator Alpha – Real value creation comes from operational scaling. We combine deep pre-LOI commercial due diligence with modern go-to-market execution to drive sustainable EBITDA margin expansion.

Whether you are a Founder ready for a graceful exit, a Searcher looking for operational leverage, or an Investor seeking de-risked upside, we bring the operational firepower to build lasting enterprise value.

Boardroom Values I Belegaer Capital

Our Values

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Values That Drive Us

01

Stewardship

02

Operational Alpha

03

Transparency & Alignment

04

Enduring Compounder

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Latest Insights

Do you want to partner with us?

Let’s Talk.
No pressure. Just aligned goals, smart growth, and real execution.

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