# Level Equity

Level Equity is a Private Equity based in New York, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** www.levelequity.com
- **LinkedIn:** https://www.linkedin.com/company/level-equity

## Regulatory record

- **CRD number:** 160016
- **SEC file number:** 801-111972
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/160016

## About

Level Equity is a leading middle market growth capital firm. Founded in 2009, it is a lower middle market private investment firm focused on providing long-term growth capital to rapidly growing software and technology-enabled businesses through growth equity and structured capital. The firm has $6.5B in assets under management, has made over 125 investments, and provides hands-on strategic guidance through its in-house value creation engine, NextLevel Operations.

## Sectors

- Enterprise Software
- AI/ML
- FinTech
- Digital Health
- Cybersecurity
- Media & Entertainment

## People

- Benjamin Levin — Co-Founder & CEO
- George McCulloch — Co-Founder
- David Levin — Co-Founder

## Questions

### Who runs investment decisions at Level Equity?

Benjamin Levin, Co-Founder and CEO, leads the investment committee alongside co-founders George McCulloch and David Levin. The three partners have operated together since 2010 without introducing external managing directors into the decision-making layer — an unusually stable governance structure for a firm of Level Equity's age and scale. All three are listed on the firm's regulatory filings as control persons.

### Does Level Equity operate separate venture and buyout funds?

No. Level Equity raises a single pooled vehicle that executes minority growth investments, majority recapitalizations, and buyouts from the same committed capital. This is structurally unusual — most firms of comparable size run distinct early-stage venture funds alongside later-stage growth or buyout funds. The single-fund architecture removes internal competition for deal allocation and gives management teams a single counterparty capable of solving for either liquidity or growth capital.

### How does Level Equity source investment opportunities?

The firm emphasizes direct sourcing to bootstrapped and capital-efficient software companies, often targeting businesses that have never taken institutional funding. Benjamin Levin has publicly described a preference for founders who have built substantial revenue bases without dilution. This sourcing posture means Level Equity competes less at auction and more on its ability to structure transactions — including majority recapitalizations — that give founders partial liquidity without requiring a full exit.

### How is Level Equity's team structured geographically?

The firm operates from a single office in New York, without satellite locations in San Francisco, London, or other technology hubs. Benjamin Levin has maintained this centralized structure deliberately, arguing in public forums that technology investing benefits from decision-making proximity and that a single-office model prevents the fragmentation of investment culture. European and West Coast portfolio companies are managed from the New York headquarters with frequent travel.

### What differentiates Level Equity's recapitalization practice from traditional buyout firms?

Level Equity's minority recapitalization strategy gives founders partial liquidity while retaining operational control — a structure that traditional control-buyout firms rarely offer below the $100 million equity check threshold. Because the firm's single vehicle can deploy minority growth capital as naturally as majority buyout capital, Level Equity negotiates recapitalizations without the mandate constraints that force pure buyout funds to demand control in every transaction.

## Related profiles

- [Level Eight Ventures](https://altss.com/profile/level-eight-ventures)
- [Levelized Capital](https://altss.com/profile/levelized-capital)

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Last updated: 2026-08-11T15:07:19.634Z

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