Growth Capital Investments in 2026

Tracked deals

375

375 tracked deals across 2026.

Buyer mix

PE-led

344 pe · 92 strategic

Top trend

Volume peaked in 2021

940 tracked deals announced in 2021.

Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

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Buyer # Deals Focus Type
KKR 6 Global alternative asset manager with a core infrastructu... PE
Bain Capital 5 Global private investment firm with a dedicated tech oppo... PE
Bregal Sagemount 4 Growth-focused private equity firm providing flexible cap... PE
Advent International 3 Private equity firm investing in companies across sectors... PE
Blackstone 3 Global alternative asset manager investing in digital inf... PE
Elevation Point 3 Wealth management partner that makes minority investments... Strategic
Novo Holdings 3 Investment company controlled by the Novo Nordisk Foundat... Investor
TA Associates 3 Global private equity firm partnering with management to ... PE
Tecum Capital 3 Lower middle-market private investment firm providing mez... PE
Trive Capital 3 Dallas-based private equity firm that invests equity and ... PE

Acquisition Volume in Growth Capital Investments in 2026 by Year

Last 10 years

Acquisition volume by year Annual acquisition counts for the last 10 years for Growth Capital Investments in 2026. 12 2017 22 2018 345 2019 525 2020 940 2021 870 2022 605 2023 709 2024 588 2025 ~724 est. 375 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Parthenon Capital
    Target
    Momentum Life Sciences
    Location
    United States

    Momentum Life Sciences announced a strategic growth investment from Parthenon Capital. Financial terms were not disclosed, and Momentum’s existing leadership team will remain significant shareholders. The investment is intended to accelerate Momentum’s growth and support planned strategic acquisitions across the specialty-therapy commercialization ecosystem.

  • Buyer
    NNS Holding (Cyprus) Limited
    Target
    OCI Global N.V.
    Location
    Cyprus

    NNS Holding (Cyprus) Limited (“NNS”) acquired 487,359 shares of OCI Global N.V. as part of its voluntary public tender offer for all ordinary shares of OCI. Following settlement of the purchase transactions announced, NNS is expected to hold 105,952,630 shares (about 50.13% of OCI’s issued share capital).

  • Buyer
    BT Group, Verizon
    Target
    BT International, Verizon's international enterprise wireline business, New 50:50 joint venture company (incorporated in Jersey, headquartered in the United Kingdom)
    Location
    United Kingdom

    BT Group and Verizon have agreed to combine their respective international enterprise connectivity operations into a new 50:50 joint venture. The JV will target multinational customers across more than 180 countries, aiming to provide a cloud-first, AI-ready secure connectivity platform, with an expected close in 2027 subject to regulatory approvals.

  • Buyer
    CVC Capital Partners
    Target
    Chess.com
    Industry
    Cloud & SaaS

    CVC Capital Partners IX agreed to invest in Chess.com, the world’s largest online chess platform, alongside longtime shareholder General Atlantic. Terms were not disclosed, and the investors said the partnership aims to improve the platform and expand Chess.com’s global presence.

  • Buyer
    Columbus Circle Capital Corp II, Inflection Point Asset Management, Cohen & Company
    Target
    Elroy Air

    Elroy Air entered into a definitive business combination agreement with Columbus Circle Capital Corp II, a SPAC led by Inflection Point Asset Management and Cohen & Company. The transaction is expected to value Elroy Air at $800 million pre-money and provide roughly $165 million in committed PIPE capital, with the combined company expected to trade on Nasdaq under ticker ELRY.

  • Buyer
    Merakey USA, Boundless
    Target
    Merakey USA

    Boundless and Merakey USA announced a strategic affiliation to create a shared national framework for delivering “whole-person, whole-life care” for people with autism, mental health conditions, substance use disorders, and intellectual/developmental disabilities. Under the affiliation, Boundless will continue operating under its established name while connecting to Merakey’s broader platform and capabilities.

  • Buyer
    Pittco Management, LLC, Epping Forest Capital GP, LLC
    Target
    Nscale Global Holdings Limited
    Industry
    Data & Analytics
    Location
    United Kingdom

    Pittco Management, LLC made an equity investment in Nscale Global Holdings Limited, partnering with Epping Forest Capital GP, LLC. Nscale is a UK-based operator that develops and runs AI-focused data centers delivering training and inference compute capabilities.

  • Buyer
    Kudu Investment Management, LLC
    Target
    Australian Financial Planning Group (AFPG)
    Location
    New South Wales, Australia

    Australian Financial Planning Group (AFPG) has secured a minority investment from Kudu Investment Management to fund growth initiatives. AFPG plans to expand its adviser base and pursue strategic acquisitions while maintaining its independent ownership structure and founder-led leadership.

  • Buyer
    Edward Jones
    Target
    Quicken

    Aquiline announced that Edward Jones has made an investment in Quicken, an Aquiline portfolio company. The minority investment is intended to help Edward Jones extend access to Quicken’s personal financial management capabilities across its advisor-led client base.

  • Buyer
    Reverence Capital Partners
    Target
    Eide Bailly
    Industry
    Accounting & Tax

    Reverence Capital Partners has entered into a definitive agreement to make a significant investment in Eide Bailly, an accounting and advisory firm. The capital is intended to accelerate Eide Bailly’s strategy and expand investment in talent, technology, and evolving service capabilities, while Eide Bailly continues under its current leadership team.

  • Buyer
    STMicroelectronics, Fondazione ENEA Tech Biomedical, SpotInvest
    Target
    Oversonic Robotics
    Location
    Lombardy, Italy

    Oversonic Robotics (Italian cognitive robotics firm behind RoBee) announced that STMicroelectronics, Fondazione ENEA Tech Biomedical, and SpotInvest have entered the company’s share capital to accelerate its industrial, technological and international development. The investment is intended to support industrial scale-up of RoBee, expand applications across manufacturing and healthcare, and strengthen Oversonic’s presence in the United States.

  • Buyer
    Birchway Capital
    Target
    Festina Finance
    Industry
    Cloud & SaaS
    Location
    United Kingdom

    Birchway Capital is providing Festina Finance with a growth investment of more than €25 million. The deal will be used to accelerate Festina Finance’s platform development and support expansion of its cloud-native modular systems serving pensions and life insurance providers across Europe, including the UK.

  • Buyer
    Berkshire Partners, Audax Private Equity
    Target
    Harbourfront Wealth Group
    Location
    British Columbia, Canada

    Harbourfront Wealth Group entered into a definitive agreement to receive a strategic investment from Boston-based private equity firm Berkshire Partners, valuing the company at C$1.775 billion. Harbourfront’s existing capital partner, Audax Private Equity, will retain a significant interest after the transaction closes, which is expected in the second half of 2026 subject to customary conditions and approvals.

  • Buyer
    Truelink Capital
    Target
    Horwitz

    Truelink Capital entered into a definitive agreement to make a significant investment in Horwitz, a Minneapolis-based mechanical, electrical, and plumbing (MEP) services provider serving the Twin Cities region. Horwitz’s CEO Matt Dekkers and management will continue to lead the business and retain a significant ownership stake, with Truelink supporting operational improvements and future expansion via acquisitions.

  • Buyer
    Greenland Mines Ltd
    Target
    AnorTech Inc
    Industry
    Data & Analytics
    Location
    Canada

    Greenland Mines entered into a strategic share exchange agreement with AnorTech, taking an initial 9.9% equity position and an option to increase its ownership to up to 19.9% over six months. The investment is intended to add midstream exposure to AnorTech’s proprietary processes and technologies for sustainable alumina, high purity alumina, and related critical industrial materials.

  • Buyer
    KKR
    Target
    Crowe Advisory LLC
    Seller
    Crowe Global
    Industry
    Accounting & Tax
    Location
    United States

    KKR will make a significant equity investment in Crowe Advisory LLC, Crowe’s newly created entity for tax, advisory, and other non-attest services. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals, as Crowe adopts an alternative practice structure with Crowe LLP continuing to provide audit and review services.

  • Buyer
    VMG Partners
    Target
    Stars + Honey

    Stars + Honey, a collagen protein bar brand, announced a minority growth equity investment led by VMG Partners. The funding will support omnichannel expansion, product development, and the buildout of a new 60,000 sq. ft. manufacturing facility to scale nationally.

  • Buyer
    River Pines Capital, Brightstar Capital Partners
    Target
    Bendon, Inc.

    River Pines Capital (RPC) announced a strategic investment in Bendon, a producer of screen-free children’s coloring, activity, and educational products. Bendon’s founder and CEO Ben Ferguson will remain in charge and retain a meaningful ownership stake, alongside management.

  • Buyer
    TPG (through TPG Growth)
    Target
    Smith + Howard
    Seller
    Broad Sky Partners (referenced as a prior partner/investor; no explicit sale language)
    Location
    United States

    TPG, through its TPG Growth platform, has signed a definitive agreement to make a significant growth equity investment in Smith + Howard. The deal is intended to support Smith + Howard’s next phase of national expansion, technology investment (including AI integration), and strategic growth initiatives.

  • Buyer
    Platte River Equity
    Target
    Tallman Equipment Company

    Platte River Equity partnered with Tallman Equipment Company to support Tallman’s next phase of growth. Tallman is a supplier of lineman tools and equipment, rental services, tool repair/refurbishment, testing, fabrication, and other support for electric utility and linework industries.

  • Buyer
    Gemspring Capital Management, LP
    Target
    Comoto Holdings, LLC
    Seller
    Prospect Hill Growth Partners
    Industry
    Retail

    Gemspring Capital Management made a strategic minority investment in Comoto Holdings, the omnichannel motorcycle and powersports retailer operating brands including Cycle Gear, RevZilla, and J&P Cycles. Existing majority shareholder Prospect Hill Growth Partners retained its ownership position, and financial terms were not disclosed.

  • Buyer
    IQSTEL
    Target
    Ultranet Telecom Group

    IQSTEL’s board approved a share repurchase program authorizing the company to buy back up to 1 million shares, citing a perceived disconnect between market valuation and intrinsic business value. In a separate transaction, IQSTEL also signed a binding memorandum of understanding to acquire a 51% stake in Ultranet Telecom Group, with expected material uplift to net income from operations.

  • Buyer
    Godspeed Capital
    Target
    JP Donovan
    Industry
    IT Services

    Godspeed Capital, a Miami-based private equity firm, has taken a strategic stake in JP Donovan, a Florida electronic security services platform with roughly $160 million in revenue built via 19 acquisitions since 2021. The investment was announced June 8 with undisclosed terms and is intended to accelerate JP Donovan’s buy-and-build expansion across Florida and Texas amid a fragmented electronic security market.

  • Buyer
    Titan Acquisition Corp.
    Target
    OpenPayd
    Location
    United Kingdom

    OpenPayd, a programmable money-movement financial infrastructure platform, entered into a definitive business combination agreement with SPAC Titan Acquisition Corp. to take the company public on the Nasdaq under ticker “OP” and value it at a pro-forma equity value of approximately $1.145 billion.

  • Buyer
    SPACSphere Acquisition Corp
    Target
    Mobilewalla
    Location
    United States

    Mobilewalla plans to become a publicly traded company through a business combination/merger with SPACSphere Acquisition Corp. The transaction values Mobilewalla at a $250 million pre-money equity valuation and is expected to close in the second half of 2026, subject to shareholder approvals and customary closing conditions.

  • Buyer
    Novo Holdings, Bain Capital, Nexxus Holdings
    Target
    HST Pathways
    Industry
    Cloud & SaaS
    Location
    United States

    HST Pathways, a provider of cloud-based software purpose-built for ambulatory surgery centers (ASCs), announced a strategic growth investment from Novo Holdings. Novo Holdings joins existing investors Bain Capital and Nexxus Holdings to support HST’s next phase of growth, including accelerating its AI and agentic product roadmap for ASC operations.

  • Buyer
    Brand Engagement Network, Inc.
    Target
    HighTide Energy, Inc. d/b/a Accelevate Solutions

    Brand Engagement Network, Inc. (NASDAQ: BNAI) completed a $1 million strategic investment in HighTide Energy, Inc. d/b/a Accelevate Solutions, taking an approximately 10% ownership stake. BEN also received a warrant to increase its ownership to approximately 20% and secured an additional $1 million equity capital commitment from its investors to fund related tranches and warrant exercise over the following six months.

  • Buyer
    SOLAI Limited
    Target
    NEURALAND PTE. LTD.
    Seller
    AIPICO Global Limited
    Location
    Singapore

    SOLAI Limited has completed its previously disclosed acquisition of a 51% equity stake in NEURALAND PTE. LTD., a Singapore company that designs and manufactures personal AI nodes. SOLAI issued about 1.162 billion newly issued Class A ordinary shares to AIPICO Global Limited (the selling shareholder) for total consideration of approximately $9.18 million, in exchange for transferring 51% of NEURALAND’s outstanding shares.

  • Buyer
    STARTEEPO Invest
    Target
    Xerox Holdings Corporation
    Industry
    Software
    Location
    Czech Republic

    STARTEEPO Invest increased its beneficial ownership position in Xerox Holdings Corporation (Xerox) to more than 6% of Xerox’s outstanding common stock. The increase follows an amended Schedule 13D filing and takes STARTEEPO to approximately 8.0 million shares plus options on an additional 140,000 shares.

  • Buyer
    Timex Group, Digital Fuel Capital
    Target
    Jane Win, Pictures on Gold

    Timex Group announced strategic investments in jewelry brands Jane Win and Pictures on Gold to expand its presence in the jewelry category and adjacent lifestyle categories. Timex, together with Digital Fuel Capital, is investing in both brands, leveraging Timex’s capabilities across design, sourcing, manufacturing, distribution, and brand-building.

  • Buyer
    White Wolf Hybrid Capital
    Target
    AccuCast
    Industry
    Manufacturing

    White Wolf Hybrid Capital has closed an investment in AccuCast, a Pennsylvania-based precision investment casting and machining manufacturer. The deal is intended to position AccuCast as a platform for consolidation in North America’s fragmented metal casting industry, targeting aerospace, defense, and industrial OEM customers.

  • Buyer
    Hidden River Strategic Capital, Northstar Senior Living
    Target
    Northstar Senior Living, Alta Senior Living

    Hidden River Strategic Capital announced an investment in Northstar Senior Living to support Northstar’s merger with Alta Senior Living, creating a combined Northstar Senior Living platform. Hidden River’s financing consisted of debt and convertible preferred equity intended to help integrate operations, invest in technology, and expand the company’s geographic reach.

  • Buyer
    JMI Equity
    Target
    SewerAI

    SewerAI, an AI platform for sewer and underground infrastructure intelligence, announced a major strategic growth equity investment led by JMI Equity. The round includes continued participation from Innovius Capital, Epic Ventures, and Bentley Systems, with funds intended to accelerate AI-driven inspection, assessment, rehabilitation planning, and asset management capabilities.

  • Buyer
    LLR Partners
    Target
    AxisCare
    Industry
    Software

    AxisCare, a provider of home care management software, announced a strategic growth investment from LLR Partners. The capital will be used to accelerate product innovation (including AI capabilities) and organizational buildout to support AxisCare’s growing customer base in a fragmented in-home care market.

  • Buyer
    Melinda French Gates
    Target
    One Roof Sports and Entertainment

    One Roof Sports and Entertainment, the umbrella organization for the Seattle Kraken and Climate Pledge Arena, announced Melinda French Gates as its newest minority investor, pending NHL approval. The investment follows an ownership group update led by majority owner and managing partner Samantha Holloway.

  • Buyer
    Shamrock Capital, EnOne Ventures
    Target
    CardsHQ, Sports Card Investor

    CardsHQ and Sports Card Investor announced a strategic growth investment led by Shamrock Capital with participation from EnOne Ventures. The investment merges the two businesses under the CardsHQ brand, creating a larger commerce, media, and technology platform for sports card and trading card game communities.

  • Buyer
    GI Partners
    Target
    HES Facilities Management

    GI Partners announced the closing of its majority investment in HES Facilities Management, an outsourced facilities services provider serving education institutions and commercial customers. The investment includes reinvestment from HES’s management team, while GI Partners and management partner to support HES’s next phase of growth.

  • Buyer
    Apollo Funds, Alpine Investors
    Target
    Apex Service Partners
    Seller
    Alpine Investors (existing investor mentioned as continuing; no seller explicitly named)
    Industry
    IT Services

    Apex Service Partners entered into a definitive agreement for Apollo Funds (funds managed by affiliates of Apollo Global Management) to acquire a minority stake in the company. Alpine Investors, Apex’s existing investor, will also make an additional investment alongside Apollo to support Apex’s continued growth, including expansion of its national footprint, multi-trade service offerings, and technology/workforce infrastructure.

  • Buyer
    TRIA Capital Partners
    Target
    Offit Capital

    Offit Capital, a multi-family office, closed a strategic minority, non-control investment from TRIA Capital Partners. The capital is intended to fund Offit’s next phase of growth—such as investments in talent and technology—while preserving Offit’s independent ownership structure, governance, and control.

  • Buyer
    Goldman Sachs Alternatives, Equip Capital
    Target
    Ryde Technology
    Seller
    Equip Fund I
    Industry
    Transportation
    Location
    Norway

    Ryde Technology (Oslo-founded e-scooter operator) has closed a significant ownership transaction in which Goldman Sachs Alternatives comes in as the lead investor in a new Equip Capital-managed fund. The new fund acquires a majority stake in Ryde and provides additional growth capital while Equip Fund I remains invested alongside founders, management, and minority shareholders.

  • Buyer
    The Riverside Company
    Target
    Workbench International
    Industry
    Cloud & SaaS
    Location
    New Zealand

    The Riverside Company has made an investment in Workbench International, a mission-critical vertical SaaS platform for project-based construction industries. Riverside expects Workbench to continue product development, expand commercial capabilities, and pursue AI transformation to improve project workflows and outcomes.

  • Buyer
    Warburg Pincus, Monroe Capital
    Target
    Cornerstone Caregiving

    Warburg Pincus made a growth investment in Cornerstone Caregiving, a Waco, Texas-based home-based care provider serving seniors across the United States. Monroe Capital provided lead-arranged unitranche/senior credit financing (terms undisclosed) to support the investment, reflecting continued private equity interest in non-acute, aging-in-place care delivery models.

  • Buyer
    Straylight Capital, Scaleworks
    Target
    Patron Points
    Industry
    Cloud & SaaS

    Patron Points, a Woodbury, Minnesota-based loyalty and customer engagement software provider for convenience stores, secured a strategic growth investment led by Straylight Capital. The round also included Scaleworks and other Straylight co-investors, and the company plans to expand nationally and advance its loyalty, promotions, portal, self-service tools, and AI-powered business intelligence.

  • Buyer
    Embed Financial Group Cayman Holdings (EFGH), WinVest Acquisition Corp
    Target
    WinVest Acquisition Corp
    Location
    Singapore

    Embed Financial Group Cayman Holdings (EFGH) filed an F-4 with the U.S. SEC for a proposed business combination with WinVest Acquisition Corp. The two-step merger would result in both EFGH and WinVest becoming wholly owned subsidiaries of a newly incorporated Cayman Islands exempted company (Pubco), which intends to list on the NYSE at an enterprise value of about USD 425 million.

  • Buyer
    Lodestone Capital
    Target
    Blulabs
    Industry
    IT Services

    Lodestone Capital led a $7 million investment in Blulabs, valuing the company at $160 million pre-money. The funding is intended to expand Blulabs’ global supply chain platform, including technology infrastructure and customer service capabilities, and to accelerate development of its proprietary AI-enabled supply chain intelligence platform.

  • Buyer
    Enceladus Partners
    Target
    Major Turbine Pump & Supply
    Seller
    Wayne Grosch

    Enceladus Partners, a family office, announced it has completed a strategic investment in Major Turbine Pump & Supply alongside the company’s founder-owner Wayne Grosch and existing management. The parties intend to use the investment to accelerate Major Turbine’s regional growth and expand its technical service capabilities while preserving the company’s legacy and customer service standards.

  • Buyer
    Kaos Capital Ltd.
    Target
    BioRestorative Therapies, Inc.
    Location
    United States

    Kaos Capital Ltd. acquired a 4.9% stake in BioRestorative Therapies, Inc. (NASDAQ: BRTX) through open-market purchases. The hedge fund says BRTX should consider a comprehensive strategic review and potentially pivot into broader AI opportunities, and it plans to seek an immediate meeting with the board to discuss strategy and governance.

  • Buyer
    Bow River Capital
    Target
    SBI Growth Advisory
    Industry
    Consulting

    Bow River Capital has completed a strategic investment in SBI Growth Advisory to enter a new growth phase, including expanded investment in talent, technology, and its SBI Wayforge growth intelligence platform. SBI is a go-to-market advisory firm focused on helping B2B companies improve GTM performance through data, advisory expertise, and training.

  • Buyer
    LNG Energy Group Corp., Fifth Ocean Management LP, Westlawn Group
    Target
    Existing and future oil and gas blocks in Venezuela (via new JV company)
    Industry
    Oil & Gas
    Location
    Ontario, Canada

    LNG Energy Group Corp. entered into a binding exclusivity agreement and letter of intent to establish a 50/50 joint venture with Fifth Ocean Management LP, in partnership with Westlawn Group, to explore and develop oil and gas blocks in Venezuela. The proposed JV company would be organized in the United States, with LNG contributing existing Venezuela oil and gas assets and Fifth Ocean funding an investment program of up to US$200 million, subject to due diligence and definitive agreements.

  • Buyer
    TNC Capital Partners
    Target
    Aplin (David Aplin & Associates Inc.)
    Industry
    Staffing & HR
    Location
    Alberta, Canada

    Canada’s Aplin (David Aplin & Associates Inc.) announced a strategic investment partnership with Vancouver-based private equity firm TNC Capital Partners. The deal provides additional capital and operational support to accelerate Aplin’s acquisition strategy, expand service capabilities, and build out its multi-brand ecosystem (Aplin, CompuStaff, Impact Recruitment, and Vantix Systems).

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