# Wellspring Capital Management

Wellspring Capital Management is a Private Equity based in New York, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 1995
- **Assets under management:** $3B - $5B (Altss estimate)
- **Website:** www.wellspringcapital.com
- **LinkedIn:** https://www.linkedin.com/company/revelar-capital

## Regulatory record

- **CRD number:** 161184
- **SEC file number:** 801-74093
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-03-31T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/161184

## About

Wellspring Capital Management is an SEC-registered investment adviser in New York, NY, registered since 2012. The firm manages approximately $208 million in regulatory assets. It has 23 employees and 16 investment advisers.

## Sectors

- Industrial Tech
- Healthcare Services
- Enterprise Software
- Business Services

## People

- Matthew Harrison — Managing Partner
- Carl Stanton — Managing Partner
- William Dawson — Co-Founder & Managing Partner
- Martin Felli — Co-Founder & Managing Partner

## Questions

### Who runs investment decisions at Wellspring Capital Management?

Day-to-day investment decisions reside with the Managing Partner group, which includes co-founders William Dawson and Martin Felli, along with Matthew Harrison and Carl Stanton. The firm's partnership structure is deliberately lean, and deal approvals are made collectively, without a formal investment committee separated from the partner group. This model keeps senior partners directly accountable for each portfolio company's performance.

### How does Wellspring source its proprietary deal flow?

Wellspring has historically sourced a significant portion of its pipeline through relationships with intermediaries, corporate sellers, and family-held businesses facing succession challenges. Because it targets complex carve-outs and under-managed companies that auction processes often exclude, proprietary or lightly intermediated sourcing is structurally embedded in its mandate. The firm does not disclose a formal thematic origination function.

### What investment stages and check sizes does Wellspring target?

Wellspring targets control buyouts in the North American middle market, writing equity checks between $100 million and $500 million per transaction, with target enterprise values ranging from $200 million to $1 billion. The firm does not pursue minority growth investments, venture capital, or debt strategies. Its posture is consistently buy-and-build with a horizon of three to seven years.

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

Wellspring is exclusively a direct investor and does not allocate LP capital to external private equity funds. The partnership acts as a general partner deploying its own institutional fund capital into control positions, not as a fund-of-funds allocator. Co-investors are occasionally brought into larger transactions, but Wellspring leads and structures each deal.

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

Canonical page: https://altss.com/profile/wellspring-capital-management

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