# Level Equity: portfolio, investments and team

> Level Equity is a private equity based in United States. 25 investments on record, latest Oct 2019. Portfolio, stages, co-investors and team.

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

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

# Level Equity

Filed with the SEC to raise a fund in Sep 2024, closing $255M. Last cheque observed Oct 2019.

Email

Quiet New fund $255M, Sept 2024 Private equity

Seed Series A Series B Subscription SaaS Collaboration Tools

Follow Level Equity and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Flevel-equity)

Cheques on record

**0%** of best year **0** **cheques in 12 months**, 25 on record

Since the last cheque **2559** days **00** hrs **00** min **00** sec

Median round **$17M** Rounds led **0 of 25** Sole investor **13 rounds** Mostly in **United States, 83%**

Pitch Level Equity

## Level Equity highlights

- 01 25 rounds on record
- 02 Mostly Series B and Series A: 71% of its rounds
- 03 Sole investor in 13 rounds, median $12M

## What they do

> Level Equity is a leading middle market growth capital firm. From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** $5K – $80K as they say
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Subscription SaaS Collaboration Tools
- **Based in:** New York, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **25 appearances**

- **2019** 6 rounds
- **Oct** **[Vacasa](https://millionrounds.com/company/vacasa)** Series C · US · FinSMEs **$319M** With 3 others
- **Aug** **[CloudCheckr](https://millionrounds.com/company/cloudcheckr)** US · FinSMEs **$15M** Sole investor
- **Jun** **[FormAssembly](https://millionrounds.com/company/formassembly)** Series A · US · FinSMEs **$10M** Sole investor
- **May** **[Legwork](https://millionrounds.com/company/legwork)** US · Newswire **$17M** Sole investor
- **May** **[ArchiveSocial](https://millionrounds.com/company/archivesocial)** US · FinSMEs **$53M** Sole investor
- **Feb** **[HVR](https://millionrounds.com/company/hvr)** US · FinSMEs **$51M** Sole investor
- **2018** 5 rounds
- **Oct** **[Vacasa](https://millionrounds.com/company/vacasa)** US · FinSMEs **$64M** With 3 others
- **Sept** **[Evaneos](https://millionrounds.com/company/evaneos)** FR · Skift **$80M** With 1 other
- **Aug** **[Instaclustr](https://millionrounds.com/company/instaclustr)** Growth · US · FinSMEs **$15M** With 3 others
- **Mar** **[Made.com](https://millionrounds.com/company/made-com)** GB · TechCrunch **$56M** With 2 others
- **Jan** **[Stack Construction](https://millionrounds.com/company/stack-construction)** US · FinSMEs **$7.0M** Sole investor
- **2017** 3 rounds
- **Jun** **[Tripleseat](https://millionrounds.com/company/tripleseat)** US · FinSMEs **$7.0M** Sole investor
- **Mar** **[CloudCheckr](https://millionrounds.com/company/cloudcheckr)** Series A · US · FinSMEs **$50M** Sole investor
- **Jan** **[MobileCause](https://millionrounds.com/company/mobilecause)** Series B · US · FinSMEs **$15M** Sole investor
- **2016** 3 rounds
- **Oct** **[Onit](https://millionrounds.com/company/onit)** US · FinSMEs **$8.3M** Sole investor
- **Oct** **[Etouches](https://millionrounds.com/company/etouches)** **$24M** With 6 others
- **Sept** **[Inbenta](https://millionrounds.com/company/inbenta)** Series B · US · FinSMEs **$12M** Sole investor
- **2015** 1 round
- **Jul** **[made.com](https://millionrounds.com/company/made-com)** Series C · GB **$60M** With 2 others
- **2014** 1 round
- **Jul** **[Wombat Security Technologies](https://millionrounds.com/company/wombat-security-technologies)** Series B · US **$6.7M** With 2 others
- **2013** 1 round
- **Jun** **[Riskonnect](https://millionrounds.com/company/riskonnect)** Growth · US · finsmes.com **$10M** Sole investor
- **2012** 2 rounds
- **Aug** **[etouches](https://millionrounds.com/company/etouches)** Series B · US · freshnews.com **$7.8M** With 2 others
- **Jan** **[made.com](https://millionrounds.com/company/made-com)** Series B · GB · techcrunch.com **$9.3M** With 1 other
- **2011** 3 rounds
- **Nov** **[Radiate Media](https://millionrounds.com/company/radiate-media)** Series B · US · radiatemedia.com **$22M** With 2 others
- **Aug** **[Sidewalk](https://millionrounds.com/company/sidewalk)** Series A · US · techcrunch.com **$15M** With 2 others
- **Aug** **[Mixbook](https://millionrounds.com/company/mixbook)** Series B · US · inc.com **$10M** 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 **6 named**

BS **Benjamin Smith Levin** Member, Level Equity Partners (GP), LLC, General Partner i Filing they signed

BW **Benjamin Waters Magleby** Chief Compliance Officer i Form ADV

GW **George W. McCulloch** Co-CEO, Level Equity Partners (GP), LLC, General Partner i Filing they signed

NE **Nathan Everett Linn** Chief Operating Officer i Form ADV

SE **Sarah Elizabeth Trebbe-Haas** Member i Form ADV

SS **Sarah Sommer** Member of the GP of the GP i Filing they signed

We also hold **68** 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

**$6.5B** assets it manages Oct 2026

**6+** funds on file numbered funds in its name

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

- **Legal name:** Level Equity Management, LLC
- **SEC number:** CRD 160016

Funds on its Form ADV

**14** private funds, **$2.7B** in gross assets · filed Mar 2024

- Level Equity Growth Partners IV, L.P. *Private equity* 109 investors $931M
- Level Equity Growth Partners V, L.P. *Private equity* 149 investors $447M
- Level Equity Growth Partners III, L.P. *Private equity* 64 investors $378M
- Level Equity Opportunities Fund 2018, L.P. *Private equity* 81 investors $299M
- Level Equity Growth Partners II, L.P. *Private equity* 89 investors $224M
- Level Equity Opportunities Fund 2021, L.P. *Private equity* 104 investors $156M
- Level Structured Capital II, L.P. *Private equity* 73 investors $109M
- Level Equity Growth Partners I, L.P. *Private equity* 65 investors $61M
- Level Structured Capital I, L.P. *Private equity* 46 investors $56M
- Level Equity Opportunities Fund 2015, L.P. *Private equity* 27 investors $48M

And 4 more on the filing.

New fund on file

**$255M**

raised in Sept 2024

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 **$17M** the round, not its cheque Alone, median **$12M**

Led 0 of 25 rounds **0%**

- **Said size:** $5K – $80K
- **Sole investor:** 13 rounds
- **Last cheque:** Oct 2019

Rounds by stage said on their site

- Series B said *7*
- Series A said *3*
- Growth said *2*
- Series C *2*
- Seed said *-*

Cheques by year Led Joined

2011 2019

Often in the room with

- [Greycroft](https://millionrounds.com/fund/greycroft) 3
- [Partech Ventures](https://millionrounds.com/fund/partech) 3
- [Cava Capital](https://millionrounds.com/fund/cava-capital) 2
- [NewSpring](https://millionrounds.com/fund/newspring) 2
- [Riverwood Capital](https://millionrounds.com/fund/riverwood-capital) 2

**Pitching Level Equity?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Level Equity. A count of rooms they were both in, not a relationship either has claimed.

[**Greycroft** VC firm **3** rounds together](https://millionrounds.com/fund/greycroft)[**Partech Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/partech)[**Cava Capital** VC firm **2** rounds together](https://millionrounds.com/fund/cava-capital)[**NewSpring** Private equity **2** rounds together](https://millionrounds.com/fund/newspring)[**Riverwood Capital** VC firm **2** rounds together](https://millionrounds.com/fund/riverwood-capital)

## Recently backed

The latest companies Level Equity put money into.

[**Vacasa** $319M · Oct 2019](https://millionrounds.com/company/vacasa)[**CloudCheckr** $15M · Aug 2019](https://millionrounds.com/company/cloudcheckr)[**FormAssembly** $10M · Jun 2019](https://millionrounds.com/company/formassembly)[**ArchiveSocial** $53M · May 2019](https://millionrounds.com/company/archivesocial)[**Evaneos** $80M · Sept 2018](https://millionrounds.com/company/evaneos)[**Instaclustr** $15M · Aug 2018](https://millionrounds.com/company/instaclustr)

## On podcasts

2 episodes naming Level Equity in the title.

- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 10 Dec 2025 · 28 min Driving Growth and Value: Level Equity’s Co-Founder & CEO Ben Levin With [Ben Levin](https://millionrounds.com/person/ben-levin) Mentions [Level Equity](https://millionrounds.com/fund/level-equity) Apple PodcastsShow page
- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 4 Aug 2023 · 33 min Next Level Growth Investing: Level Equity’s Ben Levin With [Ben Levin](https://millionrounds.com/person/ben-levin) Mentions [Level Equity](https://millionrounds.com/fund/level-equity) Apple PodcastsShow page

## Quick answers about Level Equity

### What does Level Equity invest in?

Level Equity invests most often at Series B and Series A (71% of the rounds on record), in sectors such as Subscription, SaaS and Collaboration Tools.

### How active is Level Equity?

25 investments on record, 0 of them in the last 12 months. The most recent was in Oct 2019.

### What has Level Equity invested in recently?

Its most recent investments on record: Vacasa (Series C, Oct 2019), CloudCheckr (Undisclosed round, Aug 2019) and FormAssembly (Series A, Jun 2019).

### How big are Level Equity's cheques?

The median round it joins is $17M.

### Does Level Equity lead rounds?

Rarely, if at all: none of its 25 investments on record names it as the lead.

### Where does Level Equity invest?

Most of the companies it backs are in the United States (83%) and the United Kingdom (13%).

### Is Level Equity investing now?

No investments in the last 12 months; the latest was in Oct 2019.

### Who does Level Equity invest alongside?

Most often Greycroft (3 rounds together), Partech Ventures (3 rounds together) and Cava Capital (2 rounds together).

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