# Gauge Capital

Gauge Capital is a Private Equity based in Southlake, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Southlake, United States
- **Region:** North America
- **Address:** Southlake, TX, United States
- **Founded:** 2013
- **Assets under management:** $1.6B+ in cumulative commitments (per the firm's official communications)
- **Website:** www.gaugecapital.com
- **LinkedIn:** https://www.linkedin.com/company/gauge-capital

## Regulatory record

- **CRD number:** 169890
- **SEC file number:** 801-86176
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/169890

## About

Gauge Capital is an SEC-registered investment adviser in Southlake, TX, registered since 2015. The firm manages approximately $3.4 billion in regulatory assets. It has 67 employees and 61 investment advisers.

## Sectors

- Healthcare Services
- Technology
- Business Services
- Consumer

## People

- Drew Johnson — Co-Founder & Managing Partner
- Tom McKelvey — Co-Founder & Managing Partner

## Questions

### Who makes investment decisions at 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.

### How does Gauge Capital source deal flow?

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.

### Does Gauge Capital invest in non-controlling positions?

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.

## Related profiles

- [Gaudium Capital](https://altss.com/profile/gaudium-capital)
- [Gauss Ventures](https://altss.com/profile/gauss-ventures)

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Last updated: 2026-06-03T20:00:00.000Z

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