# SaaS Capital

SaaS Capital is an Asset Manager based in Cincinnati, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Cincinnati, United States
- **Region:** North America
- **Address:** Cincinnati, OH, United States
- **Founded:** 2007
- **Assets under management:** Undisclosed
- **Website:** saas-capital.com
- **LinkedIn:** https://www.linkedin.com/company/saas-capital

## Regulatory record

- **CRD number:** 298213
- **SEC file number:** 801-126369
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/298213

## About

SaaS Capital is an SEC-registered investment adviser in Cincinnati, Ohio, registered since 2022. The firm manages approximately $245 million in regulatory assets. It has 9 employees and 6 investment advisers.

## Sectors

- Enterprise Software
- FinTech
- Digital Health
- Private Credit

## People

- Todd Gardner — Founder & Managing Director

## Questions

### What is the SaaS Capital Index and what does it track?

The SaaS Capital Index is a proprietary benchmark that tracks the enterprise value-to-revenue multiples of publicly traded SaaS companies. The firm publishes the index quarterly, and it has become a widely used reference point in both boardroom discussions and venture capital negotiations for private-company valuation context.

### How does SaaS Capital underwrite credit risk without profitability covenants?

The firm relies on a proprietary underwriting model built on two decades of private SaaS revenue data, which forecasts cash consumption based on churn-adjusted recurring revenue, sales efficiency, and historical burn rates. By lending against the stability of the subscription base rather than current margins, the firm argues it can accurately price risk even for unprofitable companies with strong gross retention.

## Related profiles

- [Inclusive Capital Partners](https://altss.com/profile/inclusive-capital-partners)
- [Esri](https://altss.com/profile/esri)

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

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