Gemspring Capital

Lower middle-market private equity firm providing flexible capital solutions across multiple sectors, with dedicated software investment team and $2.1B in aggregate commitments.

• Westport, USA • Est. 2015
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Investment Requirements

Revenue (ARR)
Flexible
Deal Structure
Flexible
Target Industries
B2B Software Tech Services
Geographic Focus
North America

Company Overview

Gemspring Capital

What They Buy

  • Target: Lower middle-market companies across diverse sectors
  • Size: Up to $500M revenue companies
  • Sectors: Software, tech-enabled services, healthcare, financial services, industrials
  • Structure: Flexible capital solutions (LBOs, growth equity, recaps, carve-outs)
  • Geography: United States and Canada primarily
  • Approach: Hands-on growth acceleration, strategic acquisitions

Recent Major Investments

  • Telna: eSIM connectivity solutions for roaming and IoT (May 2024)
  • Appriss Retail: Software solutions for retail industry
  • Amplix: Technology services platform
  • A10 Capital: Financial services technology
  • Airswift Global: Business services technology

Track Record

  • Founded: 2015 by Bret Wiener (ex-H.I.G. Capital)
  • Leadership: Bret Wiener (Founder & CEO, 125+ acquisitions experience)
  • Scale: $2.1B aggregate commitments (Fund III: $1.7B, Growth Fund I: $400M)
  • Team: 50+ people, 20+ Managing Directors
  • Portfolio: 25 platform investments, 41 add-on acquisitions
  • Software Focus: Dedicated software investment team led by Aron Grossman (Principal)

Portfolio Companies

Telna
eSIM connectivity solutions for roaming and IoT (May 2024)
Appriss Retail
Software solutions for retail industry
Amplix
Technology services platform
A10 Capital
Financial services technology
Airswift Global
Business services technology

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Last updated: October 6, 2025

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