# Parthenon Capital: portfolio, investments and team

> Parthenon Capital is a private equity based in United States. 8 investments on record, latest Sept 2015. Portfolio, stages, co-investors and team.

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

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

# Parthenon Capital

Last cheque observed Sep 2015. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

Email

Quiet New fund $22M, Apr 2023 Private equity

Seed Series A Growth Financial_services Healthcare Business_tech_services

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 8 on record

Since the last cheque **4057** days **00** hrs **00** min **00** sec

Median round **$38M** Rounds led **0 of 8** Sole investor **6 rounds** Exits **2 from the portfolio** Mostly in **United States, 100%**

Pitch Parthenon Capital

## Parthenon Capital highlights

- 01 8 rounds on record
- 02 Mostly Venture and Growth: 83% of its rounds
- 03 Sole investor in 6 rounds, median $63M
- 04 2 exits from the portfolio

## What they do

> We’re a growth-focused private equity firm that combines decades of experience, domain expertise, strategic and operating resources, and a long-term investment horizon to collaborate with management to build franchise companies in high-growth and emerging market subsectors. From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Growth
- **Sectors:** Financial_services Healthcare Business_tech_services
- **Based in:** Boston, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **8 appearances**

- **2015** 1 round
- **Sept** **[Millennium Trust Co](https://millionrounds.com/company/millennium-trust-co)** US **Undisclosed** Sole investor
- **2014** 1 round
- **Nov** **[BlueSnap](https://millionrounds.com/company/bluesnap)** Growth · US **$50M** With 2 others
- **2013** 1 round
- **Jan** **[Envysion](https://millionrounds.com/company/envysion)** US · businesswire.com **Undisclosed** Sole investor
- **2011** 2 rounds
- **Jun** **[Eliza Corporation](https://millionrounds.com/company/eliza-corporation)** Growth · US **$106M** Sole investor
- **Jun** **[Eliza Corporation](https://millionrounds.com/company/eliza-corporation)** Series A · US · sec.gov **$106M** Sole investor
- **2004** 1 round
- **Mar** **[Restaurant Technologies](https://millionrounds.com/company/restaurant-technologies)** Venture · US **$25M** With 1 other
- **2003** 2 rounds
- **Mar** **[Med-Tel International](https://millionrounds.com/company/med-tel-international)** Venture **$19M** Sole investor
- **Feb** **[Rackable Systems](https://millionrounds.com/company/rackable-systems)** Venture · US **$21M** 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 **11 named**

AC **Andrew Caldwell Dodson** Managing Partner and Limited Partner i Form ADV

BP **Brian Philip Golson** Managing Partner and Limited Partner i Form ADV

DJ **David Jacob Ament** Managing Partner and Limited Partner i Form ADV

GH **Gerri H. Grossmann** Executive Officer, Promoter i Filing they signed

JP **Jill Philip Aiello** Executive Officer, Promoter i Filing they signed

JC **John C. Rutherford** Executive Officer, Promoter i Filing they signed

JO **Jonathan O. Grad** Executive Officer, Promoter i Filing they signed

JC **Joseph Cruzeiro Taveira** Executive Officer, Promoter i Filing they signed

PG **Paulo George Bartolomeu Marnoto** General Counsel, Chief Compliance Officer i Form ADV

WC **William Caldwell Kessinger** Chief Investment Officer and Limited Partner i Form ADV

WG **William G. Winterer** Executive Officer, Promoter i Filing they signed

We also hold **69** 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

**$13B** assets it manages Oct 2026

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

- **Legal name:** PCP Managers, L.P.
- **SEC number:** CRD 157398

Funds on its Form ADV

**15** private funds, **$13B** in gross assets · filed Mar 2024

- 04: Parthenon Investors V, L.P. *Private equity* 53 investors $2.8B
- 13: Parthenon Investors VII, L.P. *Private equity* 105 investors $2.6B
- 14: Parthenon Investors VII Parallel, L.P. *Private equity* 117 investors $2.1B
- 05: Parthenon Investors IV, L.P. *Private equity* 34 investors $1.7B
- 01: Parthenon Investors VI, L.P. *Private equity* 75 investors $1.6B
- 02: Parthenon Investors VI Parallel, L.P. *Private equity* 55 investors $1.2B
- 06: Parthenon Investors III, L.P. *Private equity* 50 investors $351M
- 11: DETZ Co-Investment Aggregator, L.P. *Private equity* 18 investors $301M
- 03: Parthenon Capital Executives Fund, L.P. *Private equity* 33 investors $95M
- 15: Parthenon Capital Executives Fund II, L.P. *Private equity* 30 investors $68M

And 5 more on the filing.

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 1 we have independently watched raise

Jumpingjackrabbit

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 **2 in all**

**[Millennium Trust Co](https://millionrounds.com/company/millennium-trust-co)** Bought by Parthenon Capital Partners **$150M** Sept 2015

**[Restaurant Technologies](https://millionrounds.com/company/restaurant-technologies)** Bought by Aurora Capital Group **Undisclosed** Apr 2015

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

New fund on file

**$22M**

raised in Apr 2023

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

## The cheque

Seed Series A Growth

Median round joined **$38M** the round, not its cheque Alone, median **$63M**

Led 0 of 8 rounds **0%**

- **Sole investor:** 6 rounds
- **Last cheque:** Sept 2015
- **Exits:** 2 from the portfolio

Rounds by stage said on their site

- Venture *3*
- Growth said *2*
- Series A said *1*
- Seed said *-*

Cheques by year Led Joined

2003 2015

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## Mentioned on podcasts

Episodes that name Parthenon Capital in their description, not their title.

- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 11 Nov 2016 · 24 min 20VC: VC / Founder Fit with 3 Things Founders & VCs Must Agree Pre-Investment & Why Having No Company Budgets Creates Internal Entrepreneurs with Jay Desai, Founder & CEO @ PatientPing Mentions [First Round Capital](https://millionrounds.com/fund/first-round-capital)[Google](https://millionrounds.com/fund/google-assistant-investments)[Google Ventures](https://millionrounds.com/fund/gv) *+3* Apple PodcastsShow page

## Quick answers about Parthenon Capital

### What does Parthenon Capital invest in?

Parthenon Capital invests most often at Venture and Growth (83% of the rounds on record), in sectors such as Financial_services, Healthcare and Business_tech_services.

### How active is Parthenon Capital?

8 investments on record, 0 of them in the last 12 months. The most recent was in Sept 2015.

### How big are Parthenon Capital's cheques?

The median round it joins is $38M.

### Does Parthenon Capital lead rounds?

Rarely, if at all: none of its 8 investments on record names it as the lead.

### Where does Parthenon Capital invest?

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

### Is Parthenon Capital investing now?

No investments in the last 12 months; the latest was in Sept 2015.

### What kind of investor is Parthenon Capital?

Parthenon Capital is a private equity firm based in Boston, United States.

### How much does Parthenon Capital manage?

About $13B, as regulatory assets under management (Oct 2026).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=parthenon-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=parthenon-capital)
