L CAPITAL, LLC
L CAPITAL, LLC is a Seed, Series B, Series C+, early-stage and buyout fund in the US, Europe and Australia writing $1M–$100M checks into technology, business-services, industrial, consumer-products, environmental-services and legal-services.
- Stages
- Seed, Series B, Series C+, early-stage, buyout
- Sectors
- technology, business-services, industrial, consumer-products, environmental-services, legal-services
- Check size
- $1M–$100M
- Invests in
- US-wide, Europe, Australia
- Round role
- Follows on
- Actively investing
- Yes
- Founded
- 2015
- Assets under management
- $197M
- Website
- lcapitalmgmt.com
Thesis
L CAPITAL, LLC is a private equity and venture capital firm founded in 2015 and based in San Francisco, California. Operating as a registered investment adviser, the firm specializes in co-investments, typically taking a minority stake of 10% or less alongside leading buyout and growth equity funds. Their investment thesis targets profitable, lower to middle-market companies within the Technology, Business Services, Industrial, and Consumer products sectors. L Capital focuses on Seed, Early Stage, and Series B rounds, as well as buyout and late-stage growth equity investments, explicitly avoiding venture-stage or cash-flow-negative businesses. Their geographic scope includes North America, Europe, and Australia. Fund I had over $20 million in commitments, Fund II closed at $54 million in April 2022, and Fund III closed at $76 million in May 2024, bringing the total firm AUM to over $160 million as of May 2024. As of March 2024, L Capital, LLC reported $197M in AUM. Typical co-investment check sizes range from $1 million to $5 million, though other sources indicate a broader range of $50 million to $100 million for their investments.
Common questions
Does L CAPITAL, LLC invest at the Seed stage?
Yes. L CAPITAL, LLC lists Seed, Series B, Series C+, early-stage and buyout among the stages it invests in.
What check size does L CAPITAL, LLC write?
L CAPITAL, LLC writes $1M–$100M checks.
Where does L CAPITAL, LLC invest?
L CAPITAL, LLC invests in the US, Europe and Australia.