FORAGER CAPITAL MANAGEMENT, LLC
FORAGER CAPITAL MANAGEMENT, LLC is a Seed, Series A, Series B, Series C+, buyout and debt fund in the US and non-US writing $1M+ checks into Fintech, Healthcare, industrials, consumer-discretionary and other.
- Stages
- Seed, Series A, Series B, Series C+, buyout, debt
- Sectors
- Fintech, Healthcare, industrials, consumer-discretionary, other
- Check size
- $1M+
- Invests in
- US-wide, non-US
- Actively investing
- Yes
- Founded
- 2011
- Assets under management
- $352M
Thesis
Forager Capital Management, LLC, founded in 2011 and based in Birmingham, Alabama, is an investment advisory firm specializing in security selection and portfolio management. With $352M in AUM as of March 2026, the firm primarily focuses on deeply undervalued small market capitalization common equities, though its mandate is broad. Their strategy involves identifying securities with downside protection and a catalyst for valuation increase, often found in situations with limited analyst coverage, cyclical stress, spinoffs, volatility, unexciting business models, small company size, or illiquidity. While initial focus is on public equities under $500M market cap, they invest across various security types and sizes, including long/short positions in equity and debt, in both US and non-US markets. The FCM Homebuilder, LLC fund targets long-term capital appreciation in a single corporation. Forager utilizes a fundamental value approach with intensive due diligence and 'boots-on-the-ground' research, leveraging personal connections in overlooked microcap companies. Their minimum investment is $1,000,000.
Common questions
Does FORAGER CAPITAL MANAGEMENT, LLC invest at the Seed stage?
Yes. FORAGER CAPITAL MANAGEMENT, LLC lists Seed, Series A, Series B, Series C+, buyout and debt among the stages it invests in.
What check size does FORAGER CAPITAL MANAGEMENT, LLC write?
FORAGER CAPITAL MANAGEMENT, LLC writes $1M+ checks.
Where does FORAGER CAPITAL MANAGEMENT, LLC invest?
FORAGER CAPITAL MANAGEMENT, LLC invests in the US and non-US.