Periscope Equity

Periscope targets founder-owned business-services companies through a proprietary network of industry executives, operating partners, and intermediaries across its four verticals. The firm emphasizes relationship-driven origination, often connecting with founders years before a transaction. Its website solicits deal inquiries through Principal Alex Friedman, signaling a direct-sourcing posture rather than a reliance on broad auctions.

The firm pursues majority buyouts and growth recapitalizations in U.S. business-services companies with mission-critical offerings and sustainable profitability. Periscope does not publicly disclose a target check size. Its verticals — Commerce Enablement, Cloud/IT/Security, Healthcare IT, and Talent/Risk/Operations — suggest a focus on lower-middle-market platforms where operational intervention can unlock growth.

Periscope maintains both an in-house Operations team and a network of independent-contractor Operating Partners. These specialists participate in operational due diligence and post-close execution, with compensation generally borne by portfolio companies or the fund rather than offsetting management fees. This hybrid model embeds functional expertise without the fixed cost burden of a fully captive team.

Yes. Multiple portfolio companies actively execute add-on strategies. eHouse seeks Shopify Plus Partners and digital marketing firms; CyberMaxx targets scale MDR and incident response providers serving regulated industries; and Mobile Solutions pursues expense management and telecom spend providers to broaden its market footprint (per the firm).

The firm's stated vertical focus is narrow: Commerce Enablement, Cloud/IT/Security, Healthcare IT, and Talent/Risk/Operations. It does not list consumer products, manufacturing, energy, or financial services as target sectors. Periscope's portfolio list confirms the absence of companies outside these four categories.

Co-founders and Managing Partners John Tarpley and Steve Jarmel lead the firm. They are supported by Partners John Findlay, Eric Hinkle, and Ami Mehta, along with Principals Joe McIlhattan and Alex Friedman. The firm's team page lists them as the Investment Team, suggesting a consensus-driven but tightly held decision process.

Periscope has not publicly stated a co-investment policy. Its transaction inquiries are routed through a single Principal, and the firm does not disclose club deals or syndicated investments on its website. The lack of co-investor mentions suggests the firm typically leads and controls its deals directly.