# PAR Capital Management

PAR Capital Management is an Asset Manager based in Boston, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Boston, United States
- **Region:** North America
- **Address:** Boston, MA, United States
- **Founded:** 1990
- **Assets under management:** Undisclosed
- **Website:** parcapital.com
- **LinkedIn:** https://www.linkedin.com/company/par-capital-management

## Regulatory record

- **CRD number:** 156596
- **SEC file number:** 801-73100
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/156596

## About

PAR Capital Management is an SEC-registered investment adviser in Boston, MA, registered since 2012. The firm manages approximately $1.5 billion in regulatory assets. It has 12 employees and 7 investment advisers.

## Sectors

- Enterprise Software
- AI/ML
- Digital Health
- FinTech
- Consumer Internet
- Mobility & Transportation

## People

- Paul A. Reeder — President, CEO, and Portfolio Manager

## Questions

### How does PAR source proprietary venture deal flow?

PAR leverages a deep network built over three decades of operational board-level engagement — Reeder's board seat at JetBlue Airways is one visible example — alongside relationships with co-investors and founders. The firm's dual public-private mandate gives it visibility into companies as they mature from private rounds toward potential public listings, creating a sourcing moat that pure-play venture firms cannot easily replicate.

### What investment stages does PAR typically target?

PAR's venture activity centers on Seed through Series B rounds. The firm participates in early-stage financings for technology companies, with confirmed positions in rounds for Greenlight Financial Technology (Series D), Cybereason, and Socure. On the public-equity side, PAR invests across market capitalizations with a preference for companies where fundamental research can identify a durable competitive advantage.

### Which sectors does PAR explicitly focus on?

PAR concentrates on enterprise software, FinTech, digital health, mobility and transportation, and AI/ML. Early-stage consumer internet companies also appear in its venture portfolio. The firm's multi-decade exposure to aviation and transportation — highlighted by the JetBlue investment — remains a distinctive sector concentration relative to peers.

## Related profiles

- [Paratus Investment](https://altss.com/profile/paratus-investment)
- [Parc Capital](https://altss.com/profile/parc-capital)

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

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