Bertram Capital Review: Technology-Enabled Business Services & Software Investment Focus

Complete guide to Bertram Capital: their investment thesis, portfolio companies, typical deal sizes, and how to position your company for investment.

Key Takeaways

  • •Focus on Business Services, Consumer, Industrial/Manufacturing, Technology
  • •Investment range: $25M-$150M in equity
  • •Based in Foster City, California, founded 2006
  • •Control-oriented investments in lower middle market
  • •$4B+ in capital commitments

Firm Overview

Bertram Capital is a private equity firm targeting investments in lower middle market companies, with the goal of transforming businesses into market leaders using their proprietary 'Bertram High 5' value creation strategy and in-house technology team, Bertram Labs.

The firm acquires control positions in under-optimized lower middle-market companies and transforms them into faster-growing market leaders that are attractive to both financial and strategic acquirers.

Notable Portfolio Companies

  • Lectric eBikes — Consumer — Electric bicycle retail and distribution
  • Burke — Industrial — Industrial manufacturing and distribution
  • Queretaro F.C. — Consumer — Sports and entertainment
  • Left Lane Auto — Business Services — Automotive retail services
  • Applied Adhesives — Industrial — Specialty adhesives and sealants
  • Perimeter Solutions Group — Technology — Security and safety solutions
  • Cogency Global — Business Services — Compliance and regulatory services

What Bertram Capital Looks For

  • Technology differentiation — Companies with proprietary technology, unique data assets, or technological advantages that create sustainable competitive moats
  • Recurring revenue model — Businesses with strong recurring revenue characteristics, including SaaS subscriptions or long-term contracts
  • Growth potential — Companies operating in large and growing markets with clear opportunities for market share expansion
  • Strong customer relationships — Businesses with high customer retention and expansion revenue opportunities
  • Proven management team — Leadership with the skills to scale technology and operations while maintaining customer focus

Pro Tip

Bertram Capital looks for companies where technology is a key differentiator, not just an enabler. Be prepared to discuss your technology stack, development roadmap, and how you leverage technology to deliver value to customers.

How to Connect With Bertram Capital

  • Demonstrate Technology Strength — Quantify your technology differentiation through metrics like development velocity, platform performance, or proprietary algorithms.
  • Prepare Financial Infrastructure — Ensure clean financials with EBITDA profitability analysis of $5M+. Be prepared for technology-focused due diligence including security audits and code reviews.
  • Articulate Growth Vision — Develop a clear thesis for how Bertram's partnership can accelerate growth.
  • Build Relationships — Leverage technology industry networks, software associations, and professional advisors to get introduced.

Companies seeking PE investment from technology-focused firms like Bertram Capital must demonstrate both financial rigor and technology strength

  • Financial Preparation — Clean financial statements, SaaS metrics (MRR, ARR, churn), Revenue recognition compliance, Due diligence data room, Unit economics analysis
  • Technology Metrics — Development velocity, Platform uptime and performance, Security compliance, Customer success metrics, Product roadmap clarity

How Eagle Rock Helps

We help technology companies prepare for PE investment by building professional financial infrastructure and operational metrics. Our fractional CFO services ensure you're ready for due diligence with clean financials, robust SaaS metrics, and strategic insights that make your business attractive to investors like Bertram Capital.

Pro Tip

Prepare detailed financial projections and operational metrics before initial meetings.

Frequently Asked Questions

What industries does Bertram Capital focus on?

Bertram Capital primarily invests in Technology, Manufacturing, Business Services. The firm seeks companies with strong market positions and clear growth trajectories.

What size companies does Bertram Capital acquire?

Bertram Capital typically invests $15M-$50M in equity, targeting companies with enterprise values in the lower to middle market range.

What is Bertram Capital's typical investment size?

The firm's equity investments generally range from $15M-$50M, positioning them as active investors who can provide meaningful capital for growth.

How long does Bertram Capital's due diligence process take?

Due diligence timelines vary by deal complexity, but Bertram Capital typically conducts thorough financial, operational, and market due diligence over several weeks to months.

What should I prepare before engaging with Bertram Capital?

Prepare three years of audited financials, detailed market analysis, management team bios, growth plans, and a clear vision for how the partnership would create value.

How does Bertram Capital work with portfolio companies?

Bertram Capital takes a partnership approach, working closely with management teams on strategic initiatives, acquisitions, and operational improvements.

Ready to Connect With Bertram Capital?

Prepare your business for private equity investment with expert financial guidance. Our fractional CFO team helps you build the financial infrastructure PE firms expect.

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This article is part of our Private equity firms | Eagle Rock CFO guide.