Performant Capital
Chicago-based lower middle-market private equity firm focused on technology-driven companies with recurring revenue, specializing in software, tech-enabled services, and data intelligence.
Investment Requirements
Company Overview
Performant Capital
What They Buy
- Target: Technology-driven companies with recurring revenue
- Size: $1M - $30M recurring revenue
- Focus: SaaS, tech-enabled services, data intelligence products
- Structure: Majority and buyout investments
- Requirements: Proven product-market fit, strong customer retention
- Path: 20%+ profit margins opportunity
- Geography: Primarily North America focused
Recent Major Investments
- OrderPort: Winery and beverage alcohol producer software (2025)
- EyeMD EMR: Healthcare systems for ophthalmologists
- SquadUP: Event management platform
- Bolt On Technology: Technology solutions provider
- Provider Technology: Healthcare technology through acquisitions
Track Record
- Founded: 2019 in Chicago, Illinois
- Leadership: Michael Ciaglia (Founding Partner, serial software entrepreneur)
- Experience: 50+ years collective investing and operating experience
- Philosophy: Deep partnership with management teams
- Approach: Operational expertise and partner network impact
- Background: Michael Ciaglia had multiple software exits before founding firm
Portfolio Companies
Similar Acquirers
Cuadrilla Capital
Enterprise software investment firm focused on control-oriented SaaS investments, specializing in analytics companies with strong product-market fit and strategic value.
FPE Capital
UK private equity firm specializing in B2B software, data, and software services companies with £5M-£50M revenue, focusing exclusively on UK and Irish headquartered businesses.
JMI Equity
Growth equity firm focused on investing in leading software companies. Partners with exceptional founders, entrepreneurs, and management teams at high-growth software companies.
Last updated: October 6, 2025
Information verified from public sources. Report corrections