LoneTree Capital has successfully closed its inaugural growth equity fund, LoneTree I LP, with a total capital of $200 million. The firm focuses on investing between $10 million and $75 million in technology and tech-enabled services companies that generate revenues between $5 million and $30 million, with growth rates exceeding 10%. A key preference for LoneTree is businesses with recurring revenue models.

Founded in 2021 by Managing Partner Matt Koven, who was part of the founding team at Bregal Sagemount, LoneTree is based in New York City. Koven emphasizes that the firm’s unique approach combines flexible capital with intensive support in go-to-market strategies and talent management, setting it apart in the lower-middle market. This strategy has already proven effective, generating value for the companies they have invested in.

The fund has made several notable investments, including Arkatechture, which specializes in data and analytics for credit unions and community banks, in February 2025. Other investments include Synergy Pet Group, a provider of veterinary care and pet-related services, in May 2023, and AllPaid, which offers a secure payments platform for local government agencies, in August 2024. Additionally, LoneTree invested in Northern Light, a competitive intelligence and market research provider for Fortune 1000 companies, in January 2025.

Koven expressed enthusiasm about continuing to partner with entrepreneurs and management teams to elevate their businesses into world-class organizations.