CO-INVEST WITH US

Invest Alongside Us in Operator-Led Acquisitions — One Deal at a Time

Deal-by-Deal Clarity. Operator-Led Execution. Real Equity Growth.

Partner with us on targeted acquisitions. No blind pools — just hands-on operating partners with skin in the game and a clear exit plan.

Back an Operator-Led Deals

At Belegaer Capital, we believe the next generation of private equity is operator-led. We’re raising capital to fund a focused search for one exceptional business to acquire, operate, and grow — with execution, not just financial engineering, as the core value driver.

For Investors

Invest in High-Conviction, Cash-Flowing Businesses
We offer opportunities to back the full journey — from search capital to acquisition. Join us in acquiring $1M–$10M EBITDA businesses with strategic upside and operational execution baked in.

Transparent, deal-by-deal SPV structures
No blind pools — full visibility at every stage
Optional participation in the search phase
Aligned incentives and real equity growth

For Founders

Exit or Grow With a Committed Operating Partner
Whether you're looking to transition or scale, we bring speed, care, and post-close leadership. Our approach protects legacy while accelerating future value.

For Funds

Operator-in-Residence & GTM Execution
We embed with search funds, independent sponsors, and PE firms to drive go-to-market execution, interim CMO leadership, and value creation.

Our Model:

Target Size: $1M–$10M EBITDA
Structure: SPV per deal; no blind capital
Operator-Led: Led by a CMO with 3,000+ global campaigns and $15M+ monthly ad spend under management
Returns: 2.5x–5x ROI targeted, with 5x–10x upside driven by operational alpha
Search & Acquisition Ready: Investors can engage at either phase

Schedule a Confidential Call

Deal-by-Deal Transparency

No blind funds — each deal is purpose-built, fully visible, and backed by execution.

Hands-On Operator Execution

Post-acquisition growth is led by a CMO with a proven GTM and RevOps track record.

Proprietary Deal Flow Access

We source through founder relationships, service engagements, and off-market outreach.

Clear Growth & Exit Plans

From day one, every deal has a clear growth roadmap and value realization strategy.

Capital Efficiency & Flexibility

Search capital, co-investments, or LP-style — structured to fit your preferred involvement.

Long-Term Value Creation

We build to scale and sustain — aiming for 2.5x–5x ROI and meaningful equity outcomes.

What does “co-invest” mean in your model?

We offer two aligned co-investment paths: As a search fund-style operator, you can choose to back me as the principal during the search phase. This gives you early access and the option to co-invest in the acquisition once a qualified business is identified and led by me. As a fundless sponsor, you invest with us deal-by-deal, with full transparency into the business, strategy, and post-acquisition growth plan — no blind pools, just targeted opportunities with operator-led execution.
What kind of returns do you target?

We aim for strong risk-adjusted returns through long-term value creation — typically targeting 3–5x net returns over a 3–7 year horizon. Each deal has its own growth plan and exit strategy, built around operator-led execution.
How do you source deals?

We run a disciplined, proprietary sourcing engine through: Direct outreach to founders Strategic marketing and M&A positioning Referrals from our operator network and seller relationships Whether in search or deal mode, we prioritize off-market, relationship-based opportunities.
Who leads the post-acquisition execution?

We do. Every deal is backed by a CMO-operator with 15+ years of experience, $15M+/mo in ad spend managed, and 3,000+ growth campaigns launched. This ensures execution isn’t outsourced — it's embedded from day one
Who can co-invest with you?

We partner with accredited investors, family offices, operator-LPs, and high-conviction partners who align with our model. You can invest during the search phase or on a deal-by-deal basis — depending on your preferred level of involvement. Alignment, transparency, and execution are non-negotiables.
What is Belegaer Capital?

Belegaer Capital is a fundless, operator-led investment firm led by a search fund entrepreneur, focused on acquiring and growing one exceptional business at a time. We combine strategic precision with hands-on leadership to drive long-term, execution-first value.
What is a search fund entrepreneur?

A search fund entrepreneur is an individual who raises capital from investors to search for, acquire, and lead a single company. At Belegaer, we follow this model — but bring the added advantage of 15+ years of direct operating experience and a proven go-to-market track record.
What does “fundless sponsor” mean?

As a fundless sponsor, we don’t manage a traditional private equity fund. Instead, we identify high-conviction opportunities first, then raise capital for each acquisition individually. This ensures investor alignment, transparency, and flexibility.
What does “operator-led” mean in your context?

It means that the person sourcing and acquiring the business — also runs it. Our founder is a Fractional CMO with deep experience in marketing, RevOps, and growth strategy. Execution isn’t outsourced — it’s embedded in the investment.
How are you different from traditional private equity firms?

We don’t operate a blind fund, and we don’t hand companies off to hired managers. Our model centers on execution by the operator, lower overhead, focused acquisitions, and high alignment with investors and sellers. We're built for long-term value, not transactional volume.

CO-INVEST

What does “co-invest” mean in your model?

We offer two aligned co-investment paths: As a search fund-style operator, you can choose to back me as the principal during the search phase. This gives you early access and the option to co-invest in the acquisition once a qualified business is identified and led by me. As a fundless sponsor, you invest with us deal-by-deal, with full transparency into the business, strategy, and post-acquisition growth plan — no blind pools, just targeted opportunities with operator-led execution.
What kind of returns do you target?

We aim for strong risk-adjusted returns through long-term value creation — typically targeting 3–5x net returns over a 3–7 year horizon. Each deal has its own growth plan and exit strategy, built around operator-led execution.
How do you source deals?

We run a disciplined, proprietary sourcing engine through: Direct outreach to founders Strategic marketing and M&A positioning Referrals from our operator network and seller relationships Whether in search or deal mode, we prioritize off-market, relationship-based opportunities.
Who leads the post-acquisition execution?

We do. Every deal is backed by a CMO-operator with 15+ years of experience, $15M+/mo in ad spend managed, and 3,000+ growth campaigns launched. This ensures execution isn’t outsourced — it's embedded from day one
Who can co-invest with you?

We partner with accredited investors, family offices, operator-LPs, and high-conviction partners who align with our model. You can invest during the search phase or on a deal-by-deal basis — depending on your preferred level of involvement. Alignment, transparency, and execution are non-negotiables.
What is Belegaer Capital?

Belegaer Capital is a fundless, operator-led investment firm led by a search fund entrepreneur, focused on acquiring and growing one exceptional business at a time. We combine strategic precision with hands-on leadership to drive long-term, execution-first value.
What is a search fund entrepreneur?

A search fund entrepreneur is an individual who raises capital from investors to search for, acquire, and lead a single company. At Belegaer, we follow this model — but bring the added advantage of 15+ years of direct operating experience and a proven go-to-market track record.
What does “fundless sponsor” mean?

As a fundless sponsor, we don’t manage a traditional private equity fund. Instead, we identify high-conviction opportunities first, then raise capital for each acquisition individually. This ensures investor alignment, transparency, and flexibility.
What does “operator-led” mean in your context?

It means that the person sourcing and acquiring the business — also runs it. Our founder is a Fractional CMO with deep experience in marketing, RevOps, and growth strategy. Execution isn’t outsourced — it’s embedded in the investment.
How are you different from traditional private equity firms?

We don’t operate a blind fund, and we don’t hand companies off to hired managers. Our model centers on execution by the operator, lower overhead, focused acquisitions, and high alignment with investors and sellers. We're built for long-term value, not transactional volume.

Let's Talk

Let’s Start the Conversation
No pressure. Just aligned goals, smart growth, and real execution.