# Arsenal Capital Partners: portfolio, investments and team

> Arsenal Capital Partners is a private equity based in United States. 7 investments on record, latest May 2022. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/arsenal-capital-partners (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Arsenal Capital Partners

Filed with the SEC to raise a fund in Jan 2025, closing $5M. Last cheque observed May 2022.

Email

Quiet New fund $5.0M, Jan 2025 Private equity

Seed Series A Series B E-health 3d-printing Connected Health

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 7 on record

Since the last cheque **1614** days **00** hrs **00** min **00** sec

Median round **$23M** Rounds led **1 of 7** Sole investor **2 rounds** Mostly in **United States, 100%**

Pitch Arsenal Capital Partners

## Arsenal Capital Partners highlights

- 01 7 rounds on record
- 02 Mostly Venture and Seed: 50% of its rounds
- 03 Sole investor in 2 rounds, median $5.0M

## What they do

> Arsenal is a leading private equity investment firm that specializes in building market-leading industrial growth and healthcare companies. From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Pre-IPO
- **Sectors:** E-health 3d-printing Connected Health
- **Based in:** Crestwood, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **7 appearances**

- **2022** 1 round
- **May** **[Epic Sciences](https://millionrounds.com/company/epic-sciences)** Series F · US · Firms' own news pages **$43M** *Led*
- **2018** 1 round
- **Jul** **[Deck](https://millionrounds.com/company/deck)** US · FinSMEs **$2.7M** Sole investor
- **2015** 2 rounds
- **Jul** **[Aptimmune Biologics](https://millionrounds.com/company/aptimmune-biologics)** Series A · US **$2.8M** With 1 other
- **Jan** **[Juristat](https://millionrounds.com/company/juristat)** Seed · US **$1.2M** With 3 others
- **2014** 3 rounds
- **Dec** **[KEW Group](https://millionrounds.com/company/kew-group)** Series B · US **$17M** With 3 others
- **Nov** **[Kypha](https://millionrounds.com/company/kypha)** Venture · US **$3.5M** With 2 others
- **Aug** **[TransMed Systems](https://millionrounds.com/company/transmed-systems)** Venture · US **$7.3M** Sole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **4 named**

FS **Frank Scrudato** Chief Financial Officer & Chief Compliance Officer of Registrant and Relying Advisers i Form ADV

JB **Jeffrey Brian Kovach** Executive Officer, Promoter i Filing they signed

PL **Pilar Lorente** Executive Officer, Promoter i Filing they signed

TM **Terrence Maxwell Mullen** Executive Officer, Promoter i Filing they signed

We also hold **107** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$9.7B** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** Arsenal Capital Management LP
- **SEC number:** CRD 156896

Funds on its Form ADV

**24** private funds, **$11B** in gross assets · filed Mar 2024

- Arsenal Capital Partners VI-B L.P. *Private equity* 71 investors $2.3B
- Arsenal Capital Partners VI L.P. *Private equity* 74 investors $1.7B
- Arsenal Capital Partners V L.P. *Private equity* 83 investors $1.6B
- Arsenal Capital Partners V-B L.P. *Private equity* 38 investors $1.2B
- Arsenal Capital Partners IV L.P. *Private equity* 57 investors $895M
- Arsenal Capital Partners IV-B L.P. *Private equity* 30 investors $662M
- Arsenal Capital Partners Growth B L.P. *Private equity* 47 investors $568M
- Arsenal Capital Partners Growth L.P. *Private equity* 70 investors $421M
- Arsenal Revolution Plastics Co-Invest 2 L.P. *Private equity* 7 investors $200M
- ACP WCG Co-Invest 1-2020 LLC *Private equity* 13 investors $182M

And 14 more on the filing.

Who backs their funds

## 5 LPs on record in Arsenal Capital Partners's funds

- **Committed:** $1.6B
- **Funds:** 5
- **Vintages:** 2016 to 2022

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report and fund news, latest Jun 2026.

- [**Regents of the University of California** 4 funds *$510M*](https://millionrounds.com/fund/regents-of-the-university-of-california) Fund Vintage Committed Arsenal Capital Partners VI 2021 $225M Arsenal Capital Partners Growth 2021 $50M Arsenal Capital Partners V 2019 $135M Arsenal Capital Partners IV 2016 $100M
- [**California State Teachers Retirement System** 5 funds *$468M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed Arsenal Capital Partners VI 2022 $200M Arsenal Capital Partners Growth 2022 $50M Arsenal Capital Partners V 2019 $135M Arsenal Capital Partners IV 2016 $83M Arsenal Capital Partners Fund VI - -
- [**California Public Employees' Retirement System (CalPERS)** 2 funds *$200M*](https://millionrounds.com/fund/california-public-employees) Fund Vintage Committed Arsenal Capital Partners VI 2022 $150M Arsenal Capital Partners Growth 2022 $50M
- [**Oregon Public Employees Retirement Fund** 2 funds *$200M*](https://millionrounds.com/fund/oregon-public-employees) Fund Vintage Committed Arsenal Capital Partners VI 2021 $150M Arsenal Capital Partners Growth 2021 $50M
- [**Minnesota State Board of Investments** 2 funds *$175M*](https://millionrounds.com/fund/minnesota-state-board-of-investments) Fund Vintage Committed Arsenal Capital Partners VI 2021 $100M Arsenal Capital Partners V 2019 $75M

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 3 we have independently watched raise

Cms Services Wearefine

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Companies it bought

Acquisitions by the firm itself

**Peach State Labs** **Undisclosed** Jun 2015

**Fine Chemicals** **$66M** Oct 2008

**Reilly Industries** **Undisclosed** Oct 2005

**Scientific Protein Labs** **Undisclosed** Feb 2004

**Rutherford Chemicals** **$65M** Nov 2003

New fund on file

**$5.0M**

raised in Jan 2025

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$23M** the round, not its cheque Alone, median **$5.0M**

Led 1 of 7 rounds **14%**

- **Sole investor:** 2 rounds
- **Last cheque:** May 2022

Rounds by stage said on their site

- Venture *2*
- Seed said *1*
- Series A said *1*
- Series B said *1*
- Series F *1*
- Pre-IPO said *-*

Cheques by year Led Joined

2014 2022

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## Recently backed

The latest companies Arsenal Capital Partners put money into.

[**Epic Sciences** $43M · May 2022](https://millionrounds.com/company/epic-sciences)[**Deck** $2.7M · Jul 2018](https://millionrounds.com/company/deck)

## Quick answers about Arsenal Capital Partners

### What does Arsenal Capital Partners invest in?

Arsenal Capital Partners invests most often at Venture and Seed (50% of the rounds on record), in sectors such as E-health, 3d-printing and Connected Health.

### How active is Arsenal Capital Partners?

7 investments on record, 0 of them in the last 12 months, and it led 1. The most recent was in May 2022.

### What has Arsenal Capital Partners invested in recently?

Its most recent investments on record: Epic Sciences (Series F, May 2022) and Deck (Undisclosed round, Jul 2018).

### How big are Arsenal Capital Partners's cheques?

The median round it joins is $23M.

### Does Arsenal Capital Partners lead rounds?

Sometimes: it led 1 of its 7 investments on record (14%).

### Where does Arsenal Capital Partners invest?

Most of the companies it backs are in the United States (100%).

### Is Arsenal Capital Partners investing now?

No investments in the last 12 months; the latest was in May 2022.

### What kind of investor is Arsenal Capital Partners?

Arsenal Capital Partners is a private equity firm based in Crestwood, United States.

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