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
Jaan Capital
Operator-led search fund dedicated to acquiring a single small to medium-sized SaaS business. Led by Raj Mahajan, former CEO who acquired, ran, and sold SuperSalon.
Battery Ventures
Global technology and software-focused investment firm backing potentially cutting-edge, category-defining businesses across multiple sectors and stages.
PennSpring Capital
People-forward private equity firm focused on lower middle-market companies in business services, SaaS, education, and manufacturing with entrepreneur-first approach.
Last updated: October 6, 2025
Information verified from public sources. Report corrections