FFL Partners

Managing Partners Chris Harris and Cas Schneller are responsible for overall firm management and lead the Healthcare and Tech-Enabled Services investment activities, respectively. Founder Spencer Fleischer serves as Chairman, and Tully Friedman remains a Senior Advisor. The firm publicly lists five partners — Harris, Schneller, Jonathon Bunt, Rajat Duggal, and Karen Winterhof — who sit on the investment committee or lead sector teams.

FFL uses an internal process called Sector Exploration and Expertise Development (SEED) to systematically map sub-sectors within healthcare and tech-enabled services before approaching companies. The firm describes SEED as a proprietary origination methodology designed to build subject-matter depth and generate ‘unparalleled access’ to middle-market opportunities. FFL also employs a dedicated Vice President of Business Development to support sourcing.

FFL targets the middle market with flexibility across the capital structure. Its transaction types include management buyouts, growth equity, take-privates, PIPE investments, and recapitalizations. The firm does not run a dedicated venture arm, but its website and Altss research note capability for early-stage seed and growth investments within its two sectors.

FFL maintains an unusually large operating group for a firm of its size — 12 operating partners and 10 operating advisors covering technology, human capital, go-to-market, strategy, finance, and agentic AI. These operating partners embed directly with portfolio companies on initiatives ranging from cybersecurity assessments and ERP migrations to executive recruiting and sales optimization.