United States · What does Welsh, Carson, Anderson & Stowe invest in?
Welsh, Carson, Anderson & Stowe invests most often at Venture and Series C (71% of the rounds on record), in sectors such as Healthcare and Technology.
Welsh, Carson, Anderson & Stowe highlights
- 01
9 rounds on record
- 02
Mostly Venture and Series C: 71% of its rounds
- 03
Sole investor in 7 rounds, median $50M
- 04
1 exits from the portfolio
What they do
- Type
- Private equity
- Cheque size
- Not stated
- Stages
- Buyout
- Sectors
- HealthcareTechnology
- Based in
- New York, United States
- Cold pitches
- Not accepted
A website was listed for this organisation, but we could not confirm it belongs to the firm that wrote these cheques. Either the site never mentions them, or it turned out to be a different company sharing the name. We show neither it nor anything read from it. Tell us the right one.
The record
Every round we can evidence, newest first9 appearances
- 2015
3 rounds
- Sept
- Apr
- Jan
- 2014
1 round
- Nov
- 2013
2 rounds
- Aug
- Apr
- 2012
1 round
- Jun
- 2011
1 round
- Sept
- 2002
1 round
- Sept
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 registration21 named
AFAnthony F. EcockExecutive OfficeriFiling they signed
AJAnthony J. De NicolaExecutive OfficeriFiling they signed
AJAnthony James DenicolaChairmaniForm ADV
BTBrian Thomas ReganExecutive OfficeriFiling they signed
CJChristopher John HooperExecutive OfficeriFiling they signed
CWChristopher W. SolomonExecutive OfficeriFiling they signed
DSD. Scott MackesyExecutive OfficeriFiling they signed
DWDavid W. CaluoriExecutive OfficeriFiling they signed
DSDennis Scott MackesyManaging PartneriForm ADV
EPEdward Peter SobolExecutive OfficeriFiling they signed
EJEric J. LeeExecutive OfficeriFiling they signed
FWFrances W. HigginsExecutive OfficeriFiling they signed
GJGregory J. LauExecutive OfficeriFiling they signed
JMJonathan M (mi Only) RatherSecretary, Treasurer, Chief Compliance OfficeriForm ADV
MEMichael Edward DonovanExecutive OfficeriFiling they signed
NWNicholas W. O'LearyExecutive OfficeriFiling they signed
PBPaul B. QueallyExecutive OfficeriFiling they signed
RWRyan W. HarperExecutive OfficeriFiling they signed
SBSanjay B. SwaniExecutive OfficeriFiling they signed
SMSean M. TraynorExecutive OfficeriFiling they signed
TAThomas A. ScullyExecutive OfficeriFiling they signed
We also hold 56 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
$15Bassets it managesOct 2026
Registeredinvestment adviserfull reporting to the SEC
- Legal name
- WCAS Management Corporation
- SEC number
- CRD 155695
Funds on its Form ADV
22 private funds, $15B in gross assets · filed Jul 2024
- WCAS XIII, L.P.Private equity130 investors$5.0B
- WCAS XIV, L.P.Private equity130 investors$4.7B
- Welsh, Carson, Anderson & Stowe XII, L.P.Private equity130 investors$2.2B
- WCAS XIV Cayman, L.P.Private equity$404M
- Welsh, Carson, Anderson & Stowe XII Cayman, L.P.Private equity8 investors$390M
- WCAS-Co-Invest Holdco, L.P.Private equity5 investors$380M
- Welsh, Carson, Anderson & Stowe XII Delaware, L.P.Private equity2 investors$374M
- WCAS XIII Cayman, L.P.Private equity15 investors$346M
- Welsh, Carson, Anderson & Stowe XI, L.P.Private equity190 investors$283M
- MUIR Woods Partners, L.P.Private equity2 investors$250M
And 12 more on the filing.
Who backs their funds
4 LPs on record in Welsh, Carson, Anderson & Stowe's funds
- Committed
- $3.6B
- Funds
- 11
- Vintages
- 1995 to 2023
The institutions that put money into its funds, which the firm then invests in companies.Source: the pension's own report, latest Jun 2026.
California Public Employees' Retirement System (CalPERS)5 funds$1.6B
Fund Vintage Committed Muir Woods Partners 2023 $300M WCAS XIV 2022 $400M WCAS XIII 2019 $400M Welsh, Carson, Anderson & Stowe XII 2015 $350M Welsh, Carson, Anderson & Stowe XI 2009 $125M - California State Teachers Retirement System4 funds$850M
Fund Vintage Committed WCAS XIV 2022 $200M WCAS XIII 2019 $250M Welsh, Carson, Anderson & Stowe XII 2015 $150M Welsh, Carson, Anderson & Stowe XI 2009 $250M 
Washington State Investment Board4 funds$590MFund Vintage Committed Welsh, Carson, Anderson & Stowe IX 2000 $300M Welsh, Carson, Anderson & Stowe VIII 1998 $150M WCAS Capital Partners III 1997 $100M Welsh, Carson, Anderson & Stowe VII 1995 $40M - Minnesota State Board of Investments3 funds$550M
Fund Vintage Committed Welsh, Carson, Anderson & Stowe XIV 2022 $150M Welsh, Carson, Anderson & Stowe XIII 2018 $250M Welsh, Carson, Anderson & Stowe XII 2014 $150M
Exits from the portfolio
Companies it backed that were later bought or listed1 in all
NaviHealthBought by Cardinal Health$410MAug 2015
An exit counts when it came after the firm's first round in the company. From historical deal records.
Companies it bought
Acquisitions by the firm itself