# Welsh, Carson, Anderson & Stowe: portfolio, investments and team > Welsh, Carson, Anderson & Stowe is a private equity based in United States. 9 investments on record, latest Sept 2015. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/welsh-carson-anderson-and-stowe (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Welsh, Carson, Anderson & Stowe Filed with the SEC to raise a fund in Jul 2026, closing $4,188M. Last cheque observed Sep 2015. Quiet New fund $4.2B, Jul 2026 Private equity Website unconfirmed Buyout Healthcare Technology Cheques on record **0%** of best year **0** **cheques in 12 months**, 9 on record Since the last cheque **4073** days **00** hrs **00** min **00** sec Median round **$50M** Rounds led **0 of 9** Sole investor **7 rounds** Exits **1 from the portfolio** Mostly in **United States, 89%** Pitch Welsh, Carson, Anderson & Stowe ## 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:** Healthcare Technology - **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](https://millionrounds.com/corrections?slug=welsh-carson-anderson-and-stowe). ## The record Every round we can evidence, newest first **9 appearances** - **2015** 3 rounds - **Sept** **[Emerus Hospital Partners](https://millionrounds.com/company/emerus-hospital-partners)** US **Undisclosed** Sole investor - **Apr** **[Simeio Solutions](https://millionrounds.com/company/simeio-solutions)** US **Undisclosed** Sole investor - **Jan** **[Aim Software](https://millionrounds.com/company/aim-software)** Venture · AT **Undisclosed** Sole investor - **2014** 1 round - **Nov** **[Revel Systems](https://millionrounds.com/company/revel-systems)** Series C · US **$100M** Sole investor - **2013** 2 rounds - **Aug** **[Alert Logic](https://millionrounds.com/company/alert-logic)** Growth · US · talkincloud.com **Undisclosed** Sole investor - **Apr** **[NaviHealth](https://millionrounds.com/company/navihealth)** Seed · US · finance.yahoo.com **$4.1M** With 3 others - **2012** 1 round - **Jun** **[Alert Logic](https://millionrounds.com/company/alert-logic)** Venture · US · sec.gov **$7.4M** Sole investor - **2011** 1 round - **Sept** **[Valeritas](https://millionrounds.com/company/valeritas)** Series C · US · finsmes.com **$150M** With 8 others - **2002** 1 round - **Sept** **[Onward Healthcare](https://millionrounds.com/company/onward-healthcare)** Venture · US **$50M** 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 **21 named** AF **Anthony F. Ecock** Executive Officer i Filing they signed AJ **Anthony J. De Nicola** Executive Officer i Filing they signed AJ **Anthony James Denicola** Chairman i Form ADV BT **Brian Thomas Regan** Executive Officer i Filing they signed CJ **Christopher John Hooper** Executive Officer i Filing they signed CW **Christopher W. Solomon** Executive Officer i Filing they signed DS **D. Scott Mackesy** Executive Officer i Filing they signed DW **David W. Caluori** Executive Officer i Filing they signed DS **Dennis Scott Mackesy** Managing Partner i Form ADV EP **Edward Peter Sobol** Executive Officer i Filing they signed EJ **Eric J. Lee** Executive Officer i Filing they signed FW **Frances W. Higgins** Executive Officer i Filing they signed GJ **Gregory J. Lau** Executive Officer i Filing they signed JM **Jonathan M (mi Only) Rather** Secretary, Treasurer, Chief Compliance Officer i Form ADV ME **Michael Edward Donovan** Executive Officer i Filing they signed NW **Nicholas W. O'Leary** Executive Officer i Filing they signed PB **Paul B. Queally** Executive Officer i Filing they signed RW **Ryan W. Harper** Executive Officer i Filing they signed SB **Sanjay B. Swani** Executive Officer i Filing they signed SM **Sean M. Traynor** Executive Officer i Filing they signed TA **Thomas A. Scully** Executive Officer i Filing 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 **$15B** assets it manages Oct 2026 **Registered** investment adviser full 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 equity* 130 investors $5.0B - WCAS XIV, L.P. *Private equity* 130 investors $4.7B - Welsh, Carson, Anderson & Stowe XII, L.P. *Private equity* 130 investors $2.2B - WCAS XIV Cayman, L.P. *Private equity* $404M - Welsh, Carson, Anderson & Stowe XII Cayman, L.P. *Private equity* 8 investors $390M - WCAS-Co-Invest Holdco, L.P. *Private equity* 5 investors $380M - Welsh, Carson, Anderson & Stowe XII Delaware, L.P. *Private equity* 2 investors $374M - WCAS XIII Cayman, L.P. *Private equity* 15 investors $346M - Welsh, Carson, Anderson & Stowe XI, L.P. *Private equity* 190 investors $283M - MUIR Woods Partners, L.P. *Private equity* 2 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*](https://millionrounds.com/fund/california-public-employees) 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 System** 4 funds *$850M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) 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 Board** 4 funds *$590M*](https://millionrounds.com/fund/washington-state-investment-board) Fund 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 Investments** 3 funds *$550M*](https://millionrounds.com/fund/minnesota-state-board-of-investments) 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 listed **1 in all** **[NaviHealth](https://millionrounds.com/company/navihealth)** Bought by [Cardinal Health](https://millionrounds.com/fund/cardinal-health) **$410M** Aug 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 **[GetWellNetwork, Inc.](https://millionrounds.com/company/getwellnetwork-inc)** **Undisclosed** Jan 2013 **GeoDigm** **$10M** Feb 2009 **Ruesch International** **Undisclosed** Dec 2004 New fund on file **$4.2B** raised in Jul 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Buyout Median round joined **$50M** the round, not its cheque Alone, median **$50M** Led 0 of 9 rounds **0%** - **Sole investor:** 7 rounds - **Last cheque:** Sept 2015 - **Exits:** 1 from the portfolio Rounds by stage said on their site - Venture *3* - Series C *2* - Growth *1* - Seed *1* - Buyout said *-* Cheques by year Led Joined 2002 2015 **Pitching Welsh, Carson, Anderson & Stowe?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Quick answers about Welsh, Carson, Anderson & Stowe ### 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. ### How active is Welsh, Carson, Anderson & Stowe? 9 investments on record, 0 of them in the last 12 months. The most recent was in Sept 2015. ### How big are Welsh, Carson, Anderson & Stowe's cheques? The median round it joins is $50M. ### Does Welsh, Carson, Anderson & Stowe lead rounds? Rarely, if at all: none of its 9 investments on record names it as the lead. ### Where does Welsh, Carson, Anderson & Stowe invest? Most of the companies it backs are in the United States (89%) and Austria (11%). ### Is Welsh, Carson, Anderson & Stowe investing now? No investments in the last 12 months; the latest was in Sept 2015. ### What kind of investor is Welsh, Carson, Anderson & Stowe? Welsh, Carson, Anderson & Stowe is a private equity firm based in New York, United States. ### How much does Welsh, Carson, Anderson & Stowe manage? About $15B, as regulatory assets under management (Oct 2026). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM 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=welsh-carson-anderson-and-stowe) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=welsh-carson-anderson-and-stowe)