Patoka Capital

Patoka Capital

Patoka Capital was established in 2013 by Chance Ragains after the family sold Great Escape Theatres. Anne Ragains, who founded the theatre chain, serves as Chairwoman Emeritus. The firm invests its own permanent capital with a mandate focused on long-term value rather than fixed fund cycles. The strategy centers on private equity, real estate, and selective private-credit opportunities. Asset classes include senior-living facilities, multifamily developments, and operating businesses in services and distribution. Portfolio holdings include Xscape Theatres locations across Indiana, Florida, Maryland, and Texas, plus CityLights condominiums in Nashville and Progress @ Tech Ridge multifamily in Austin. Additional positions cover Rivercrest Senior Living, Legacy Ridge memory care in Virginia, and Capture Higher Ed in Louisville. All activity remains within North America. The team lists thirteen professionals on its site, including Steven Wilson as Chief Legal Officer. Additional offices are not disclosed. A 2019 operational milestone was the start of construction on Legacy Ridge, a 68-bed memory-care community developed with Dillin LLC. Philanthropic ties include board service at Family & Children's Place and the New Albany Floyd County Education Foundation. The structural feature is the direct linkage between the family’s operating history in exhibition and its current mandate. Capital is deployed alongside operating partners in niche businesses where the principals have prior execution experience, rather than through broad sector mandates or external fund vehicles.