# Shearwater Capital

Shearwater Capital is a Private Equity based in Denver, Australia.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Denver, Australia
- **Region:** Oceania
- **Address:** Level 2, 135-153 New South Head Road, Edgecliff NSW 2027, Australia
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** www.shearwater.co
- **LinkedIn:** https://www.linkedin.com/company/jeffrey-brown-cfp

## Regulatory record

- **CRD number:** 115399
- **SEC file number:** 801-77787
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/115399

## About

Shearwater Capital is an SEC-registered investment adviser in Denver, CO, registered since 2013. The firm manages $427 million in assets, $426 million on a discretionary basis. It has 4 employees and 4 investment advisers.

## Sectors

- Enterprise Software
- AI/ML
- Media & Entertainment
- LegalTech
- Consumer

## Questions

### Who runs investment decisions at Shearwater Capital?

Three founding partners make all investment decisions. The firm's website states that each partner was a former founder-operator, and that they invest their own capital collectively. Individual partner names are not publicly disclosed beyond the founder/partner designation, and the firm operates with a flat, collaborative investment-committee dynamic.

### Is Shearwater Capital a traditional venture fund, or does its structure differ?

Shearwater is a principal-capital vehicle, not a traditional limited-partner fund. The three partners deploy approximately $100 million of their own money, which eliminates fundraising cycles, LP reporting obligations, and fixed fund horizons. This structure lets the firm hold positions indefinitely and structure deals — including secondary purchases of founder shares — without external timing constraints.

### Does Shearwater participate in fund commitments or only direct deals?

All publicly disclosed activity points to direct investments across equity and secondary transactions. The firm states it will buy founder and secondary shares where it makes sense, regardless of whether it is already on the cap table. There is no indication Shearwater commits capital to other venture funds as a limited partner.

### What investment stages does Shearwater target?

Shearwater invests from inception and seed through Series A and beyond. The firm has explicitly stated that it does not limit itself to a single stage and will examine opportunities at any point in a company's lifecycle. It also conducts secondary purchases from founders and early shareholders.

### Does Shearwater specialize in particular sectors or is it industry-agnostic?

Shearwater describes itself as industry-agnostic. The portfolio shows a tilt toward enterprise software, AI/ML, and business-process automation — Sitemate in manufacturing workflow, Contented AI in compliance, Parallel in media simulation — but the firm has also backed consumer brands such as Lyka Petfoods and the cultural-discovery platform Lokol. Founders with integrity operating in complex domains are the common thread.

### Does Shearwater hold companies indefinitely, or does it face exit pressure?

Because Shearwater deploys partner capital without external LP timelines, it does not face conventional exit pressure. The firm states it has no fund horizons and will stay with companies as they compound. Secondary share purchases from founders can also serve as liquidity solutions that do not require a full company exit.

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

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