# LLR Partners: portfolio, investments and team

> LLR Partners is a vc firm based in United States. 45 investments on record, latest Sept 2022. Portfolio, stages, co-investors and team.

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

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

# LLR Partners

Filed with the SEC to raise a fund in Aug 2026, closing $1,425M. Last cheque observed Sep 2022.

Email

Quiet New fund $1.4B, Aug 2026 VC firm

Seed Series A Longevity Mental Health Healthtech

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

Cheques on record

**0%** of best year **0** **cheques in 12 months**, 45 on record

Since the last cheque **1501** days **00** hrs **00** min **00** sec

Median round **$30M** Rounds led **1 of 45** Sole investor **29 rounds** Exits **5 from the portfolio** Mostly in **United States, 100%**

Pitch LLR Partners

## LLR Partners highlights

- 01 45 rounds on record
- 02 Mostly Venture and Growth: 87% of its rounds
- 03 Sole investor in 29 rounds, median $30M
- 04 5 exits from the portfolio

## What they do

> LLR Partners is a lower middle market private equity firm focused on investing in software and tech-enabled companies within the knowledge economy. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A
- **Sectors:** Longevity Mental Health Healthtech
- **Based in:** Philadelphia, United States
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **45 appearances**

- **2022** 1 round
- **Sept** **[PCS Software](https://millionrounds.com/company/pcs-software)** Growth · US · Firms' own news pages **Undisclosed** *Led*
- **2019** 4 rounds
- **Dec** **[Suvoda](https://millionrounds.com/company/suvoda)** US · FinSMEs **$40M** Sole investor
- **Dec** **[Relay Network](https://millionrounds.com/company/relay-network)** US · Businesswire **$30M** Sole investor
- **Apr** **[Digital Guardian](https://millionrounds.com/company/digital-guardian)** US · FinSMEs **$30M** Sole investor
- **Jan** **[Intelity](https://millionrounds.com/company/intelity)** US · FinSMEs **$44M** Sole investor
- **2018** 1 round
- **Mar** **[Midigator](https://millionrounds.com/company/midigator)** US · FinSMEs **$30M** Sole investor
- **2017** 1 round
- **Nov** **[eLocal](https://millionrounds.com/company/elocal)** US · FinSMEs **$25M** Sole investor
- **2015** 5 rounds
- **May** **[CoreDial](https://millionrounds.com/company/coredial)** Growth · US **$28M** Sole investor
- **May** **[CompoSecure](https://millionrounds.com/company/composecure)** US **Undisclosed** Sole investor
- **Apr** **[WennSoft](https://millionrounds.com/company/wennsoft)** US **Undisclosed** Sole investor
- **Mar** **[Agility Recovery](https://millionrounds.com/company/agility-recovery)** US **Undisclosed** Sole investor
- **Feb** **[Message Systems](https://millionrounds.com/company/message-systems)** Series C · US **$27M** With 2 others
- **2014** 4 rounds
- **Nov** **[VersionOne](https://millionrounds.com/company/versionone)** Series B · US **$20M** Sole investor
- **Oct** **[Phreesia](https://millionrounds.com/company/phreesia)** Series E · US **$30M** With 2 others
- **Jun** **[ACRE](https://millionrounds.com/company/acre)** Venture · US **Undisclosed** Sole investor
- **Jun** **[Aasonn](https://millionrounds.com/company/aasonn)** Growth · US **$20M** Sole investor
- **2013** 7 rounds
- **Dec** **[iJET International](https://millionrounds.com/company/ijet-international)** Venture · US **Undisclosed** Sole investor
- **Dec** **[Ultisat](https://millionrounds.com/company/ultisat)** Venture · US **Undisclosed** Sole investor
- **Oct** **[LogiAnalytics](https://millionrounds.com/company/logianalytics)** Growth · US · finsmes.com **$28M** With 1 other
- **Oct** **[Cigital](https://millionrounds.com/company/cigital)** Growth · US · bizjournals.com **$50M** Sole investor
- **Apr** **[Cedar Capital](https://millionrounds.com/company/cedar-capital)** Venture · US **$75M** With 2 others
- **Mar** **[HighPoint Solutions](https://millionrounds.com/company/highpoint-solutions)** Venture · US **Undisclosed** Sole investor
- **Jan** **[Alsbridge](https://millionrounds.com/company/alsbridge)** US · finsmes.com **Undisclosed** Sole investor
- **2012** 5 rounds
- **Sept** **[Orbis Education](https://millionrounds.com/company/orbis-education)** Venture · US · sec.gov **$24M** Sole investor
- **Jul** **[PHYSICIANS IMMEDIATE CARE](https://millionrounds.com/company/physicians-immediate-care)** Venture · US **Undisclosed** With 1 other
- **Jun** **[Message Systems](https://millionrounds.com/company/message-systems)** Series B · US · sec.gov **$32M** Sole investor
- **Jun** **[Ultimus Fund Solutions](https://millionrounds.com/company/ultimus-fund-solutions)** Venture · US **Undisclosed** Sole investor
- **Jun** **[SDI](https://millionrounds.com/company/sdi)** US · prnewswire.com **Undisclosed** With 1 other
- **2011** 6 rounds
- **Aug** **[VectorLearning](https://millionrounds.com/company/vectorlearning)** Venture · US · finsmes.com **$24M** Sole investor
- **Jul** **[Quintiq](https://millionrounds.com/company/quintiq)** US · finsmes.com **Undisclosed** With 1 other
- **Jun** **[Pet360](https://millionrounds.com/company/pet360)** Venture · US · reuters.com **$18M** With 1 other
- **Jun** **[Strategic Distribution](https://millionrounds.com/company/strategic-distribution)** Venture · US **Undisclosed** Sole investor
- **Feb** **[Numotion](https://millionrounds.com/company/numotion)** Venture **Undisclosed** Sole investor
- **Jan** **[Avenues: The World School](https://millionrounds.com/company/avenues-the-world-school)** Venture · US **$75M** With 1 other
- **2010** 5 rounds
- **Oct** **[Lightspeed](https://millionrounds.com/company/lightspeed)** US · finsmes.com **Undisclosed** Sole investor
- **Sept** **[Tribridge](https://millionrounds.com/company/tribridge)** Venture · US **$24M** Sole investor
- **Jul** **[IOD Incorporated](https://millionrounds.com/company/iod-incorporated)** Venture · US **$35M** Sole investor
- **Jun** **[Vivere Health](https://millionrounds.com/company/vivere-health)** Venture · US **$23M** Sole investor
- **Mar** **[Message Systems](https://millionrounds.com/company/message-systems)** Series A · US · wiredvc.com **$6.0M** With 1 other
- **2009** 1 round
- **Jun** **[Revitas](https://millionrounds.com/company/revitas)** Growth · US **$55M** 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 **16 named**

DJ **David J. Reuter** Managing Director of the Top GP i Filing they signed

DJ **David J. Stienes** Managing Director of the Top GP i Filing they signed

HJ **Howard J. Ross** Managing Director of the Top GP i Filing they signed

IJ **Ira J. Lubert** Managing Director of the Top GP i Filing they signed

JJ **Jack J. Slye** Managing Director of the Top GP i Filing they signed

JD **Joshua David Loftus** General Counsel of the Top GP i Filing they signed

ML **Michael Levenberg** Managing Director of the Top GP i Filing they signed

MW **Michelle Woods Vaughn** Chief Compliance Officer i Form ADV

MJ **Mitchell J. Hollin** Managing Director of the Top GP i Filing they signed

NS **Noah Steven Becker** Chief Financial Officer of the Top GP i Filing they signed

RG **Ryan Goldenberg** Managing Director of the Top GP i Filing they signed

SA **Sasank Aleti** Managing Director of the Top GP i Filing they signed

SJ **Scott J. Perricelli** Managing Director of the Top GP i Filing they signed

SJ **Seth J. Lehr** Managing Director of the Top GP i Filing they signed

TJ **Todd J. Morrissey** Managing Director of the Top GP i Filing they signed

ZS **Zachary Sigal** Managing Director of the Top GP i Filing they signed

We also hold **114** 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

**$7.6B** assets it manages Oct 2026

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

- **Legal name:** LLR Management Holdco, L.P.
- **SEC number:** CRD 323438

Funds on its Form ADV

**17** private funds, **$5.9B** in gross assets · filed Mar 2024

- LLR Equity Partners V, L.P. *Private equity* 255 investors $1.8B
- LLR Equity Partners VI, L.P. *Private equity* 358 investors $1.3B
- LLR Equity Partners Vii,l.p. *Private equity* 188 investors $651M
- LLR Equity Partners International VI, L.P. *Private equity* 35 investors $587M
- LLR Equity Partners IV, L.P. *Private equity* 149 investors $569M
- LLR Equity Partners International V, L.P. *Private equity* 11 investors $268M
- LLR Equity Partners International Vii,l.p. *Private equity* 22 investors $251M
- LLR Equity Partners Parallel V, L.P. *Private equity* 73 investors $116M
- LLR V Sponsor Co-Invest, L.P. *Private equity* 44 investors $87M
- LLR VI Sponsor Co-Invest,L.P. *Private equity* 20 investors $81M

And 7 more on the filing.

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 2 we have independently watched raise

Community LinkedIn

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.

## Exits from the portfolio

Companies it backed that were later bought or listed **5 in all**

**[IOD Incorporated](https://millionrounds.com/company/iod-incorporated)** Bought by [New Mountain Capital](https://millionrounds.com/fund/new-mountain-capital) **Undisclosed** Jul 2015

**[Pet360](https://millionrounds.com/company/pet360)** Bought by PetSmart **$130M** Sept 2014

**[Quintiq](https://millionrounds.com/company/quintiq)** Bought by [Dassault Systemes](https://millionrounds.com/fund/dassault-systemes) **$337M** Jul 2014

**[Princeton Softech](https://millionrounds.com/company/princeton-softech)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **Undisclosed** Sept 2007

**[Novient](https://millionrounds.com/company/novient)** Bought by Solution 6 Group Ltd **Undisclosed** Jun 2002

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$1.4B**

raised in Aug 2026

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

## The cheque

Seed Series A

Median round joined **$30M** the round, not its cheque Alone, median **$30M**

Led 1 of 45 rounds **2%**

- **Sole investor:** 29 rounds
- **Last cheque:** Sept 2022
- **Exits:** 5 from the portfolio

Rounds by stage said on their site

- Venture *21*
- Growth *6*
- Series B *2*
- Series C *1*
- Series E *1*
- Seed said *-*
- Series A said *-*

Cheques by year Led Joined

2001 2022

Often in the room with

- [NewSpring](https://millionrounds.com/fund/newspring) 3
- [Mellon Ventures](https://millionrounds.com/fund/mellon-ventures) 2
- [Updata Partners](https://millionrounds.com/fund/updata-partners) 2

**Pitching LLR Partners?** 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 LLR Partners. A count of rooms they were both in, not a relationship either has claimed.

[**NewSpring** Private equity **3** rounds together](https://millionrounds.com/fund/newspring)[**Mellon Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/mellon-ventures)[**Updata Partners** VC firm **2** rounds together](https://millionrounds.com/fund/updata-partners)

## Recently backed

The latest companies LLR Partners put money into.

[**Suvoda** $40M · Dec 2019](https://millionrounds.com/company/suvoda)[**Relay Network** $30M · Dec 2019](https://millionrounds.com/company/relay-network)[**Digital Guardian** $30M · Apr 2019](https://millionrounds.com/company/digital-guardian)[**Intelity** $44M · Jan 2019](https://millionrounds.com/company/intelity)[**eLocal** $25M · Nov 2017](https://millionrounds.com/company/elocal)

## Quick answers about LLR Partners

### What does LLR Partners invest in?

LLR Partners invests most often at Venture and Growth (87% of the rounds on record), in sectors such as Longevity, Mental Health and Healthtech.

### How active is LLR Partners?

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

### What has LLR Partners invested in recently?

Its most recent investments on record: PCS Software (Growth, Sept 2022), Suvoda (Undisclosed round, Dec 2019) and Relay Network (Undisclosed round, Dec 2019).

### How big are LLR Partners's cheques?

The median round it joins is $30M.

### Does LLR Partners lead rounds?

Sometimes: it led 1 of its 45 investments on record (2%).

### Where does LLR Partners invest?

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

### Is LLR Partners investing now?

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

### Who does LLR Partners invest alongside?

Most often NewSpring (3 rounds together), Mellon Ventures (2 rounds together) and Updata Partners (2 rounds together).

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