Natare Capital Management

Jeffrey Michael, as Managing Partner, is the principal decision-maker. The office operates with a lean structure, likely involving one or two senior investment professionals reporting directly to Michael. External operating partners and industry executives from Michael's network are brought in to evaluate and manage specific portfolio companies on a deal-by-deal basis.

The wealth originated from Natare Corporation, a manufacturer of commercial swimming pool equipment and systems based in Indianapolis. The company designed, fabricated, and installed pool systems for municipal, university, and competitive swimming facilities. The Michael family sold the business in the late 1990s, and the proceeds formed the capital base of what became Natare Capital Management.

Natare invests almost exclusively through direct equity, with a strong preference for control positions in private companies. The firm does not publicly participate in fund commitments, co-investment clubs, or limited partner relationships with external managers. This direct-only posture is consistent with family offices that have an operator-owner background and seek governance influence over portfolio companies.

The office concentrates its direct investing in the Midwest, with known activity across Indiana, Ohio, Michigan, and Minnesota. Commercial real estate holdings are similarly weighted toward industrial properties in secondary and tertiary Midwestern markets. Natare has not disclosed any international investments or operations outside the United States.

Natare operates as a single-family office with a closed architecture — its capital base derives entirely from the Michael family and is not open to outside investors. The office does not appear to maintain a separate philanthropic foundation or multi-family vehicle. This closed structure distinguishes it from family offices that evolve into fund managers or multi-family platforms to scale their investment operations.