Gauge Capital

Co-founders Drew Johnson and Tom McKelvey lead the investment committee together. Both remain actively involved in originating, underwriting, and managing portfolio positions, which departs from the tiered decision-making structure common at firms of comparable size.

Gauge relies heavily on its partners' personal networks developed over decades at Bain Capital and within specific industry verticals. The firm supplements this with a dedicated business-development function and relationships with regional intermediaries, but it competes on reputation and operating expertise rather than broad auction processes.

Yes. While buy-and-build control investments are the core strategy, Gauge occasionally executes structured minority and growth-equity transactions when the partnership dynamic suits the founder's objectives and the return profile meets the firm's hurdle rates.