YUL Ventures

The firm acquires shares directly from individual holders — founders, employees, and early angels — at growth-stage SaaS companies, bypassing banker-led auctions and GP-led secondaries processes. It targets shareholders seeking partial liquidity without triggering a full company sale. Public sourcing details are limited, but its model relies on direct engagement with shareholder networks in the enterprise-software sector.

The firm's capital structure is not publicly disclosed. Its narrow mandate, small public footprint, and focus on direct secondary purchases suggest it may operate on a deal-by-deal basis or with committed capital from a small group of backers rather than raising traditional institutional blind-pool funds. Without disclosure, the permanent-versus-fund distinction remains unconfirmed.

YUL Capital focuses exclusively on direct purchases of common equity in private SaaS companies, rather than acquiring LP interests in venture funds or participating in GP-led continuation vehicles. The firm targets individual shareholder liquidity needs at the company level, a narrower strategy than the diversified secondaries mandates run by larger fund managers.

Per its own description, the firm targets growth-stage SaaS companies with established recurring revenue profiles. It does not explicitly invest at the venture-stage or pre-revenue phase. The focus on secondary purchases from existing shareholders implies that portfolio companies are typically beyond the early-stage venture phase and have meaningful enterprise value.

YUL Capital does not publicly name its investment principals, portfolio managers, or governance committee on its website or through regulatory filings. The firm's lean public profile suggests a small team without a publicly disclosed investment committee structure.