Investment Criteria

Experienced Management

  • Appropriate equity incentive plan
  • Alignment of interests

Competitive Position

  • Strong market positions 

  • Well suited to capitalize on growth opportunities 

  • Significant competitive advantages 

  • Profitable at time of investment 

  • Industries with barriers to entry 

Value and Cash Flow

  • Quality and consistency of cash flow
  • Fundamental enterprise value 

  • Industry cyclicality and position at time of investment 

  • We will not invest in companies that have speculative business plans 

Investment Exit Strategies

  • Internally generated cash flow for debt repayment
  • Strategic acquisition by other industry participants
  • Sale of collateral, if any, underlying the loan
  • Liquidation of the company
    • Tangible assets: Accounts receivable, inventory, equipment and real estate
    • Intangible assets: Intellectual property, customer lists, networks and databases