Open Opportunity Management

Co-Founders and Managing Partners Frank Baker and Peter Siris lead the investment committee. Baker's background includes deal origination at Siris Capital Group, where he focused on technology buyouts before departing to form Open Opportunity. The firm has not publicly named additional investment-committee members.

The firm targets North American businesses with $3 million to $15 million of EBITDA, writing equity checks of $10 million to $40 million. It concentrates on enterprise software and tech-enabled services, typically pursuing control buyouts or significant minority growth-equity positions in founder-led companies.

Open Opportunity raises blind-pool committed capital from institutional limited partners through a traditional private equity fund structure. It is not a family office — the founders act as fiduciaries managing outside investor capital under standard fund economics.

Open Opportunity is a separate firm focused on the lower middle market — companies with $3 million to $15 million of EBITDA — while Siris Capital pursues larger technology and telecommunications buyouts. Frank Baker co-founded Open Opportunity in 2011 after his tenure at Siris, but the two firms have no disclosed shared ownership or investment relationship.

Open Opportunity invests across the United States and Canada. The firm has not disclosed any investments outside North America, consistent with its stated lower-mid-market focus where local operating expertise and on-the-ground management support are central to the strategy.

The firm has not publicly articulated a specific co-investment policy. Because it targets businesses below the threshold of most institutional private equity funds, its deals are typically proprietary rather than syndicated, though it may partner with co-investors on larger transactions.

Open Opportunity operates standard private equity fund structures with a 10-year term and typical holding periods of four to seven years per portfolio company. This introduces a conventional exit discipline — trade sales or sponsor-to-sponsor sales — unlike permanent-capital or family-office vehicles.