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Upward M&A Growth Fund, L.P

Fueling the Next Generation of Business Builders Through Private Equity and Lending Solutions

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Fund Overview

Investing in Opportunity. Creating Enduring Value

Upward M&A Opportunity Fund is a strategic private equity vehicle focused on acquiring and scaling U.S.-based middle-market businesses with durable cash flows and operational upside. We target companies with scalable operations and meaningful upside through add-on acquisitions and operational improvements.

We serve accredited investors, family offices, and institutions seeking alternative exposure to real business assets, with quarterly distributions, optional co-investments, and long-term value creation.

Investment Philosophy

Buy right - Buy Smart - Exit Strong

Our investment philosophy blends disciplined financial engineering with hands-on value creation. The Fund combines equity ownership strategies with income-generating private credit to deliver a balanced return profile for accredited investors.

We believe in investing in people and process. Our buyout philosophy emphasizes operational partnership, transparent governance, and enduring value. The Fund focuses on industries with strong cash flows, succession-driven exits, and consolidation potential.

Funds Structure and Returns

Equity and Debt Blended Capital Stacks Designed for Risk Adjusted Return

The M&A Fund focuses on control investments in lower- to middle-market companies ($5M–$50M enterprise value) across recession-resilient sectors. Our approach combines operational value creation (via margin expansion, digital enablement, strategic hiring). Deploy capital across sectors including hospitality, healthcare, and tech-enabled services. Use strategic debt and equity structures to amplify value. Opportunistically lend to M&A transactions through a debt sleeve. Annual LP distributions starting year 3 (deal exits & recap events)

Fund Snapshots

  • Fund Type:Private Equity / Buyout
  • Fund Size (Target) $50M–$100M
  • Target IRR:15–20%
  • Hold Period:3–7 years
  • Stage:Growth, mature, and transitional businesses
  • Structure: Equity (60%), Private Credit (40%)
  • Fund Life:7 years + extensions
  • Structure:GP/LP with co-investment opportunities
  • Deal Profile:Recurring revenue, strong EBITDA
  • Target MOIC: 2.0x–3.0x
  • Geography:S. focused

Investment Objectives, Focus and Strategy

  • Lower-Middle Market Businesses ($5–$30M EV)
  • Roll-Ups & Consolidation Plays
  • Opportunistic Debt to Support Acquisitions
  • Majority control investments
  • Platform acquisitions + roll-up strategies
  • Use of moderate leverage (2x–4x EBITDA)
  • Reinvestment of excess cash flow into bolt-on acquisitions or value creation.
  • Deal Types: Buyouts, roll-ups, recapitalizations, carve-outs
  • Exit: Strategic Sales, Recaps, and PE Acquirers.

Investment Diversification & Approach

We target a portfolio of 8–12 companies, diversified across verticals such as healthcare services, B2B tech, hospitality 

and specialized consumer. This diversification reduces portfolio concentration risk while maximizing sector-specific opportunity

  • Sector balancing to avoid overconcentration
  • Varying deal structures: asset purchases, carve-outs
  • Geographic spread across growth regions in the U.S. (Sunbelt, Midwest, Southeast)

Acquisition Equity

Direct investments to support leveraged buyouts, growth equity, or control transactions.

Private Credit for M&A

Flexible term loans, seller notes, and structured credit for qualified buyers.

Where We Deployed Capital

Income & Capital Appreciation

We deploy capital to acquire control equity positions in lower-middle market companies with $2M–$20M EBITDA. Our investment thesis centers around operational improvement, strategic add-ons, and digital enablement. Capital is structured to allow for leveraged buyouts with flexible debt layering (senior debt, mezzanine, seller notes) to optimize returns. Equity and mezzanine capital for acquisitions, Direct private lending for M&A transactions, Flexible deal structures, strategic Partnership and co-investment opportunities. The fund is weighed toward capital appreciation, but liquidity events such as refinancings may generate interim income. Value is realized primarily through exits sales to sponsors, or public markets.

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Performance Objectives

Income Stability

The Fund aims to generate a gross return of 2.0x invested capital over 10 years, while primarily growth focused, the fund targets companies with consistent EBITDA margins and operational cash flows, asset-backed refinancing, or structured liquidity events over time. This structure may provide periodic cash return opportunities to LPs.

Exposure to recession-resistant, cash-flowing private companies. Hybrid equity + debt approach for enhanced risk-adjusted returns. Access to exclusive, off-market M&A deals. Proven Strategy: Focus on overlooked, high-margin companies. Diversified Exposure: M&A + direct lending arm. Experienced Team: Led by finance, accounting, and private equity professionals.

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Building Wealth Through Private Market M&A

Welcome to Upward Capital Investment Group

Thank you for your interest in investing with Upward Capital Investment Group. This intake form is designed to help us better understand your investment profile, preferences, and eligibility across our family of funds. Whether you're seeking stable income, equity growth, or diversified exposure to alternative assets, this information ensures we provide the most suitable opportunities aligned with your goals. All responses are confidential and used solely for compliance, suitability, and onboarding purposes.

Investor Intake Form

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