Radian Capital

Radian Capital Research

Investment Thesis

Radian Capital is a growth equity specialist that partners with software-driven B2B companies at scale. The firm believes that exceptional founders have built something special, and Radian provides the capital, experience, and operational support to help founders achieve their "next" stage of growth. Rather than building a diversified portfolio, Radian concentrates on a select few companies, going deep with each one.

The firm's thesis combines three core principles:

1. Software Excellence - Focus on companies with defensible software platforms, strong unit economics, and clear paths to scale
2. Operational Leverage - Hands-on support in go-to-market, product strategy, and operational efficiency
3. Sustainable Growth - Growth that counts—prioritizing profitability and long-term value over growth at all costs

Sector and Model Focus

Radian Capital invests across multiple B2B software verticals with emphasis on:

Vertical Systems of Record: Mission-critical software for specific industries (municipal towing, automotive fleet, beverage distribution, event management, home inspection, fabrication workflows, floral supply chains)

Fintech & Financial Services: Accounts receivable automation, crypto infrastructure, R&D tax automation, insurance platforms, payment systems, fraud prevention

Enterprise Software & DevOps: Security platforms (privileged access management, perimeter threat intelligence), compliance automation, ecommerce monitoring, mobile billing fraud prevention

Healthcare IT: Behavioral health CRM, hospice EMR, durable medical equipment workflows, document workflow automation

Design & Collaboration: Visual collaboration platforms, virtual apparel prototyping, photography business management, landscape design

Commerce Enablement: Ecommerce optimization, retail clienteling, collectibles marketplaces, education platforms

Key Industries: Financial services, healthcare, insurance, manufacturing, logistics, education, retail, and hospitality

Stage Focus and Check Size

Radian Capital is a growth equity firm, primarily investing in Series A and beyond:

• Primary Stage: Series A-C (companies with product-market fit and established revenue)
• Typical Check Size: $5M - $30M per transaction
• Target Portfolio Companies: 20-30 companies over fund life
• Fund Strategy: Concentrated bets with deep operational involvement

The firm targets companies with:

• Established revenue and customer traction
• Clear growth trajectory and unit economics
• Experienced management teams
• Addressable markets of $1B+

Lead Tendency and Decision Process

Lead Tendency: Radian typically leads growth equity rounds in their portfolio companies, though they also participate in larger Series B/C rounds alongside other growth investors.

Decision Process: Partnership structure - The firm employs a partnership approach with invested decision-making from co-founders Jordan Bettman and Weston Gaddy, supported by experienced investing partners including Mattia Flabiano, Aly Lovett, and Dana Sadovnic.

Recent Activity and Fund Status

Fund Status: Actively deploying from latest fund (believed to be Fund III or beyond, estimated $500M+)

Recent Notable Investments (Jan-Feb 2026):

• February 2, 2026: CyberFOX (participated in growth round led by Level Equity)
• January 7, 2026: Biller Genie (led $22M Series B to fuel global growth)
• January 13, 2026: Dealerware (participated with Automotive Ventures and others)
• Portfolio companies actively scaling across security, fintech, healthcare, and vertical SaaS

Exits & Track Record:

• Emailage: Acquired by LexisNexis (predictive fraud risk platform)
• Emporia Holdings: Acquired by K1 (secondhand goods inventory)
• TCG Player: Acquired by eBay (collectibles marketplace)
• Yardzen: Acquired by Oldcastle APG (virtual landscape design)

Team and Expertise

Leadership:

• Jordan Bettman, Co-Founder & Managing Partner - Former partner at Bain Capital Ventures, strategy consultant at Bain & Company. B.S. Cornell University, MBA Harvard Business School.

• Weston Gaddy, Co-Founder & Managing Partner - Former investor at Bain Capital Ventures, strategy consultant at Bain & Company. BA University of Pennsylvania, BS Wharton School.

• Mattia Flabiano, Partner - Former investor at Greenspring Associates and BankCap Partners. BS University of Virginia, MBA Wharton School.

Investment Team: Aly Lovett (Partner), Dana Sadovnic (Principal), Jamie Glavin (Vice President), Scott Hughes (Vice President), Barak Biblin (Vice President), and supporting associates and analysts

ARC Team (Operations & Execution): The firm maintains a dedicated "ARC Team" (Assistance, Results, Confidence) including Mandy Sebel (Partner), Mike Dzik (Partner), Chiraag Kapoor (Principal), Garrett Bugbee (Principal), Greg Smith (Vice President), and supporting specialists focused on hands-on portfolio support

Geographic Focus

Primary Markets: New York-based firm with US-centric focus, particularly strong in:

• Northeastern US (NYC headquarters advantage)
• Technology hubs (SF Bay Area, Seattle, Boston)
• Industry-specific geographic concentrations (fintech in NYC, healthcare across US, automotive in Detroit/Michigan region)

Portfolio and Competitive Advantages

Portfolio Composition: 40-50 active portfolio companies across verticals with concentrated ownership (typically 10-20%)

Competitive Advantages:

1. Operational Excellence - Dedicated ARC team provides hands-on support in go-to-market, product, and operations
2. Growth Expertise - Partners have 15+ years at elite growth equity and consulting firms (Bain Capital, Bain & Company)
3. Vertical Expertise - Deep knowledge in multiple vertical SaaS categories (insurance, healthcare, fintech, automotive)
4. Capital Resources - $1.1B+ AUM provides dry powder for follow-on investments and M&A support
5. Portfolio Synergies - Network of 40-50 companies enables customer introductions and operational best practice sharing

Investment Decision Timeline and Warm Introductions

Decision Timeline: Typically 4-6 weeks from initial meeting to investment decision for well-prepared Series A/B companies

Warm Introductions: Strongly preferred; direct introductions from portfolio company founders or trusted advisors accelerate process significantly

Founder Preferences

Radian favors founders who have:

• Prior operational or startup experience
• Deep industry expertise or vertical knowledge
• Strong technical or product excellence
• Commitment to sustainable, profitable growth
• Ability to execute with discipline and focus

The firm explicitly avoids "growth at all costs" mentality, preferring founders aligned with building enduring businesses.

Fund History and AUM

• Total AUM: $1.1 billion (as of late 2023/early 2024)
• Fund History: Multiple funds, third fund ($500M) raised in early 2022
• Fund Strategy: Concentrated portfolio (20-30 companies per fund) with deep operational involvement

Notable Portfolio Themes

Emerging Focus Areas:

• AI-augmented software (Myop - AI UI component builder)
• Cybersecurity in growth-stage companies (CyberFOX, GreyNoise, EasyDMARC)
• Automation of regulatory compliance (Boast - R&D tax credits)
• Vertical-specific workflow automation (Spectora, Stratus, Koronet)

Thesis Evolution

The firm is increasingly focused on:

1. Software-first transformation in traditionally non-tech industries
2. Compliance and regulatory automation as business critical
3. Vertical consolidation plays where multiple point solutions can be unified
4. Founder-friendly growth capital explicitly positioned as alternative to traditional PE