Explore NewSpring's 2025 Year in Review
In 2025, NewSpring executed across all five strategies with a continued focus on outcomes for founders, leadership teams, and investors.
That focus shapes where we deploy capital, how we support leadership teams, and how we invest in our own people.
Here are the outcomes we invested in over the past year:
Assets Under Management
Realizations since inception
Transactions in 2025
Acquisitions supported in 2025
In 2025, NewSpring continued to partner with lower-middle market companies, investing alongside founders and management teams at critical points in their growth. We deployed $156mm across our strategies, balancing growth with discipline and positioning portfolios for durable performance through varying market conditions.
NewSpring Growth
Invested in the future of alternative investing.
NewSpring Mezzanine
NewSpring Healthcare
Invested in scalable value-based care solutions
NewSpring Healthcare
NewSpring Mezzanine
Invested in the future of broadband networks.
NewSpring Growth
Invested in AI-powered intelligence platform for Life Sciences.
In 2025, NewSpring executed several strategic exits, reflecting the long-term work behind each investment. Many of these realizations met the criteria for nomination into the NewSpring CEO Hall of Fame, which recognizes portfolio companies that achieve the strongest performance outcomes.These exits followed years of active partnership and execution alongside management teams.
We believe the strength of our outcomes begins with the strength of our team. We invest in our people through professional development, expanded responsibilities, and a culture that encourages collaboration and growth. By developing the next generation of investment and operating professionals, we’re better-positioned to serve our portfolio companies and investors with insight and consistency.
Operating Partner
Analyst
Analyst
Analyst
Analyst
The NewSpring team continues to be recognized across the industry for their expertise and impact. This year, Hart Callahan was named to GrowthCap’s list of Top Software Investors, reflecting our team’s deep sector knowledge and hands-on partnership approach.
NewSpring was also recognized at the firm level for its partnership-driven approach. We were named to GrowthCap’s list of Top Private Equity Firms, a Top 50 PE Firm in the Middle Market by Grady Campbell Incorporated for the second year in a row, and an Inc. Founder Friendly investor for the sixth consecutive year.
These recognitions reflect our continued focus on alignment and long-term value creation.
Active partnership is core to how we invest. Beyond capital, we work alongside leadership teams through critical moments, supporting strategic execution, operational improvements, and leadership decision-making. These examples reflect how that partnership contributes to meaningful, measurable outcomes over time.
Marty McKenna
President & CEO, Verisma
“NewSpring’s core values of supporting entrepreneurship and acting with integrity are clear the moment you walk in their offices. They build trust not just in words, but through consistent action and behavior.”
Building a $600mm Business to Revolutionize Email Marketing
Creating a Global Leader in Email Infrastructure Software with NewSpring Growth
Ken Croney
CEO, GLH Construction
“Through my 20-year partnership with NewSpring, I've learned that a helpful partner allows you to work autonomously and make decisions without encumbrance.”
Andy Maner
Chairman & CEO, Avantus
“We liked NewSpring because of their focus on the lower-middle market, where the real innovation is in the federal sector.”
Raising Retail Success with Innovative SaaS Solutions
Taking advantage of emerging, technology-driven market opportunities in large, established industries
Throughout the year, our team shared insights into the repeatable tactics, operational frameworks, and strategic decisions we employ to help companies scale. These perspectives are designed to inform CEO decision-making and provide investors with greater understanding into how we think about building durable value across the portfolio.
As we look ahead, our focus remains unchanged: to be a trusted, engaged partner invested in outcomes that matter.
We’re grateful for the trust placed in us and proud of what we’ve built together. With disciplined investment strategies, a growing team, and a partnership-first approach, NewSpring enters 2026 well-positioned to continue delivering meaningful outcomes for our investors, portfolio companies, and employees.
NewSpring celebrated a major milestone in 2024: 25 years of empowering lower-middle-market businesses to achieve remarkable growth. This success would not have been possible without the unwavering trust and collaboration of our limited partners, the bold vision and innovation of the business leaders we support, and the dedication and expertise of our employees.
Thanks to the incredible support of our investors, team members, and portfolio companies, 2023 marked a milestone year for NewSpring. We invested in a record number of 23 lower-middle market companies, reaching 248 total investments made into scalable, capital-efficient businesses.
