Parthenon Capital and Serent Capital Invest in BirchStreet Systems

Parthenon Capital Makes Additional Investment in CardWorks, Inc.

February 15, 2022

Payments & Fintech

Parthenon Capital has made an additional investment in CardWorks, Inc., the parent of CardWorks Servicing, Merrick Bank and Carson Smithfield; terms were not disclosed. As part of the transaction Parthenon co-CEO Brian Golson will join CardWorks' Board of Directors, and the firm said the capital will support continued growth of the company's consumer lending, payments and servicing businesses.

Parthenon Capital Makes Strategic Investment in Embark

September 4, 2025

Consulting

Parthenon Capital has made a strategic growth investment in Embark, a Dallas-based management and financial consulting firm, to accelerate the company's organic growth and M&A strategy while expanding its technology and AI capabilities. Founder Paul Allen will remain Chairman and retain a significant ownership stake as Embark pursues investments in automation, AI, talent, and expanded advisory services.

Parthenon Capital Makes Strategic Growth Investment in Cherry Bekaert

June 30, 2022

Accounting & Tax

Parthenon Capital has made a strategic, growth-oriented investment in Cherry Bekaert to support the firm's business advisory practices, funding technology, infrastructure, and expansion initiatives. The transaction restructures Cherry Bekaert into Cherry Bekaert LLP (attest services) and Cherry Bekaert Advisory LLC (business advisory/non-attest services) and is intended to accelerate organic growth and enable strategic acquisitions.

Serent Capital Invests in Raintree Systems

December 6, 2021

Healthcare Services

Serent Capital has made a significant growth investment in Raintree Systems to support product innovation and accelerate growth of its therapy-focused EHR and revenue cycle management platform. The capital will be used to advance Raintree's software capabilities and expand its reach among enterprise and mid-market therapy providers.

Parthenon Capital Recapitalizes Smart Data Solutions with Investment from Blue Venture Fund

October 4, 2021

Healthcare Services

Parthenon Capital completed a recapitalization of Smart Data Solutions (SDS), a provider of payer-focused claims automation, workflow and data management solutions. The Blue Venture Fund, representing 35 Blue Cross Blue Shield plans, also invested to support SDS's growth, product innovation and strategic acquisitions; terms were not disclosed.

Parthenon Capital Invests in AArete

June 24, 2025

Consulting

Parthenon Capital has made a strategic growth investment in AArete, a Chicago-based management and technology consulting firm specializing in profitability improvement and digital transformation for healthcare payers, financial services and the public sector. The capital will be used to accelerate growth initiatives, broaden AArete’s service offerings, and support acquisitions while existing employees and leaders remain significant shareholders.