# Spring Mountain Capital

Spring Mountain Capital is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 650 Madison Avenue, 20th Floor, New York, NY 10022, United States
- **Founded:** 2001
- **Assets under management:** Undisclosed
- **Website:** www.springmountaincapital.com
- **LinkedIn:** https://www.linkedin.com/company/smcgrowth

## Regulatory record

- **CRD number:** 119126
- **SEC file number:** 801-61805
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/119126

## About

Spring Mountain Capital is an SEC-registered investment adviser in New York, NY, registered since 2003. The firm manages approximately $311 million in regulatory assets. It has 17 employees and 9 investment advisers.

## Sectors

- Growth Equity
- Venture (General)
- Buyout
- Private Credit
- Healthcare Services
- Education
- Enterprise Software

## People

- John L. Steffens — Founder and Senior Managing Director
- Gregory P. Ho — President
- Jason L. Orchard — Managing Director, Head of Total Return Group

## Questions

### Who runs investment decisions at Spring Mountain Capital?

Founder John L. Steffens and President Gregory P. Ho shape top-down strategy. Day-to-day portfolio decisions are distributed: Jason L. Orchard leads the Total Return Group, Petra Hansen co-heads Private Capital, and Steffens himself co-heads the Private Capital Funds Group alongside Hansen. Each fund maintains its own investment committee.

### How does the firm source its deals?

SMC relies on an 'extensive network of personal and professional relationships' built over decades by Steffens at Merrill Lynch and Ho at McKinsey. The firm targets opportunities 'in the gaps' — deals that are complex, misunderstood, or too small for the largest institutional managers, which proprietary sourcing networks are designed to uncover.

### What is the Social Impact Group, and how is it separated from other strategies?

The Social Impact Group is one of five internal investment groups at SMC. It runs both a life-sciences practice, investing in companies like Allyx Therapeutics and ReNetX Bio, and an education-technology practice that holds board seats at Lessonbee. It operates with dedicated investment professionals and its own deal flow, distinct from the Total Return and Private Capital groups.

### Does Spring Mountain Capital participate in fund commitments or only direct deals?

SMC engages in both. The Private Capital Funds Group makes fund commitments and structures co-investment opportunities, while the Total Return and Growth Equity teams pursue direct investments. The firm also offers customized separately managed accounts that can combine multiple strategies.

## Related profiles

- [Spring Marketing Capital](https://altss.com/profile/spring-marketing-capital)
- [SpringReef Partners](https://altss.com/profile/springreef-partners)

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

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