Breachway Capital Research
Investment Thesis
Breachway Capital is an operator-led venture and growth equity firm that backs B2B software, data, and AI companies at the Series A+ stage. The firm describes itself as founders backing founders. It looks for AI-forward companies solving meaningful problems with distinctive products, validated product-market fit, and strong unit economics. Its stated focus spans B2B SaaS, vertical software, data platforms, applied AI, and workflow automation. The portfolio leans heavily toward data and information businesses, especially in healthcare, which mirrors the founders' background at Definitive Healthcare.
Stage Focus
Series A and later. The website gives a target ARR range of $2-10M. The September 2025 launch release says generally $3-15M ARR. The firm wants companies that already have product-market fit and need help scaling go-to-market, not pre-seed or seed bets.
Check Size
No check size is published. The firm describes permanent capital, which suggests flexible sizing. Its July 2026 EdVisorly deal was a lead of a $13.3M Series A round. Its February 2026 TPN.health investment was a participation behind lead First Analysis. Check size fields are left empty rather than guessed.
Lead Tendency
Both. It led EdVisorly's $13.3M Series A (July 2026) and participated in TPN.health's round led by First Analysis (February 2026).
Recent Activity
- July 2026: led EdVisorly's $13.3M Series A. Other participants included U.S. News & World Report, Lumina Foundation, Strada Education Foundation, Motley Fool Ventures, Juvo Ventures, and Zeal Capital Partners.
- February 2026: invested in behavioral health platform TPN.health in a round led by First Analysis.
- September 2025: public launch of the firm, with offices in Boston and New York. At launch it already partnered with Cariina, Emporia, FINTRX, MDCalc, Prompt, Recovery.com, and Vested.
The firm says it uses permanent capital, free from fundraising cycles. Tracxn lists two investments in 2026. It appears to be actively deploying.
Portfolio Highlights
The portfolio page lists current investments and exits.
- Current: Cariina (K-12 software), Emerald (cannabis market data), Emporia (market research and AI insights), FINTRX (financial intermediary data), MDCalc (clinical calculators), Prompt Therapy Solutions (physical therapy EMR), Recovery.com (addiction treatment marketplace), TPN.health, Vested (equity compensation financing), EdVisorly (AI college enrollment).
- Exits and outcomes: Definitive Healthcare (Nasdaq IPO, 2021), Datassential (acquired by NMC and Endicott), EnergyAcuity (acquired by Enverus), HLTH (acquired), PayerCompass (acquired by Zelis), RainKing (acquired by ZoomInfo), RxLightning (acquired by CoverMyMeds), Xtelligent (acquired by TechTarget).
Many of these predate the firm's launch and reflect the founders' earlier personal investing.
Team
- Jason Krantz, Founder and Managing Partner. Founder and Executive Chairman of Definitive Healthcare, which he took public in 2021. Earlier founder and CEO of Infinata, sold to Pearson in 2007. Started at McKinsey. Boston College trustee, Harvard MBA.
- Joe Mirisola, Partner and Chief Revenue Officer. Nearly 12 years as head of sales and CRO at Definitive Healthcare, building a 400-person global go-to-market team and more than $200M ARR. Serves on several boards.
- Carter Dwyer, Principal, based in New York. Joined in 2025 from Centerview Partners, where he worked in M&A advisory on healthcare services and technology.
Decision Process
A small partnership led by the managing partner. The firm says it makes fast, confident decisions. The partners sit on portfolio boards.
Founder Preferences
Founders with ambition and conviction to build durable businesses. Stated values are a founder-first mentality, empathy, execution focus, and long-term partnership. Value-add is concentrated in go-to-market: customer segmentation, sales model design, and hiring. Portfolio founders cite this help in testimonials.
Geographic Focus
Offices in Boston and New York. No explicit geographic restriction is stated. The portfolio is US-centered.
Gaps
No fund size, AUM, or check size is disclosed. The Form ADV filing lists no AUM figure.