# Z2 Investment Management

Z2 Investment Management is a Private Equity based in San Jose, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** San Jose, United States
- **Region:** North America
- **Address:** Stamford, CT, United States
- **Founded:** 2022
- **Assets under management:** Undisclosed
- **Website:** www.z2mgmt.com
- **LinkedIn:** https://linkedin.com/company/z2-investment-management

## About

Z2 is an investment management company focused on privately held middle market businesses. It makes debt and equity investments in companies owned by families, individuals, and management teams. Its focus is on lower middle market, privately negotiated credit and select equity investments, delivering tailored financing solutions.

## Sectors

- Private Credit
- Business Services
- Infrastructure
- Financial Services
- Telecom
- Healthcare Services

## People

- Scott Gold — Partner
- Jake Sussman — Partner
- Andy Cahill — Partner

## Questions

### Who runs investment decisions at Z2?

Scott Gold, Jake Sussman, and Andy Cahill are the three partners responsible for all investment decisions. Gold leads firm strategy, investor relations, and team culture; Sussman oversees sourcing, underwriting, and exits; Cahill manages underwriting diligence, deal execution, and portfolio risk. The trio previously collaborated at Arena Investors on the Corporate Private Credit team.

### Does Z2 fund the entire capital stack or only senior debt?

Z2 positions itself as a flexible capital provider. While the majority of its disclosed transactions are senior secured first-lien term loans, the firm also structures preferred equity, minority-shareholder buybacks, and follow-on acquisition financing. It explicitly states it does not operate inside a rigid credit box.

### What is Z2's preference on sponsor-backed versus non-sponsored deals?

Z2 focuses on non-sponsored transactions, meaning it lends directly to family-owned businesses, individual owners, and management teams. It will evaluate sponsor-backed or independent-sponsored opportunities, but the firm’s origination model is built around forming direct relationships with operators rather than relying on private-equity auction processes.

### Which sectors does Z2 explicitly target?

Z2 maintains a generalist mandate and states it invests across most industries with the majority of operations in the U.S. Publicly disclosed portfolio companies span infrastructure maintenance, portable sanitation, telecom retail (Blufox Mobile), financial services (Coastline Wealth Management), and technical building-services consulting (FST Technical Services). The firm has an operating advisor dedicated to healthcare services.

### How does Z2 source its deal flow?

Z2 sources deals through a relationship-driven model rooted in the partners' networks. The firm notes that many of its investors are prior owners, operating executives, and management teams from businesses the principals have previously financed. Vice President of Origination Max Jaffe leads direct sourcing efforts, and the firm highlights its willingness to structure non-traditional capital solutions outside conventional bank processes.

### What scale of capital does Z2 typically deploy?

The firm targets investment sizes between $10 million and $40 million, aimed at companies generating $2 million to $20 million in EBITDA. Since inception, the partners have cumulatively made over 150 investments representing more than $15 billion in total transaction value across multiple economic cycles.

## Related profiles

- [Z2C](https://altss.com/profile/z2c)
- [Z2Sixty Ventures](https://altss.com/profile/z2sixty-ventures)

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Last updated: 2026-08-11T15:08:42.881Z

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