Level Equity
About Level Equity
Level Equity is a private investment firm founded in 2009, focusing on lower middle-market opportunities. The firm specializes in providing long-term, flexible capital to rapidly growing software and technology-enabled businesses across North America, Europe, Israel, Australia, and New Zealand. With over $6.4 billion in assets under management, Level Equity has completed more than 125 investments and achieved over 60 liquidity events.
The firm offers a range of strategic growth capital solutions, including majority and minority growth equity, structured equity, credit solutions, and full acqu
Co-founders Ben Levin, George McCulloch and Sarah Sommer set up the firm in 2009, and Crunchbase lists the same three as founders. Levin is co-founder and CEO. Barry Osherow, a partner, heads Level Structured Capital, the firm's structured capital unit. Chris Isaac joined the investment team in 2011, when the firm had eight employees. Fund I, Level Equity Growth Partners I, closed at $130 million in 2011. Growth Partners II closed in December 2013 with $255 million in commitments. Growth Partners III totaled $357 million in commitments, and the firm launched Level Structured Capital alongside it. Level Structured Capital II closed in March 2023 with $157.5 million against a $125 million target. A March 2026 release announced the final close of Level Structured Capital III and described the fundraising cycle as raising $2 billion. Sommer is a partner at the firm. GrowthCap named Levin a Top Software Investor of 2025 and named Level Equity a Top Private Equity Firm of 2025.
Level's public materials describe an in-house operations team that works with portfolio companies on scaling and AI adoption. The firm's 2025 year-in-review reports one operating partner hire, 32 executive hires supported, 400 portfolio executives in a Slack community and 39 roundtables and peer mentoring circles. It also reports 9 new investments and 16 follow-on investments in 2025. Third-party profiles say the firm invests thematically and across control buyouts, minority growth and credit. The sources reviewed do not name specific AI-focused deals, so none are listed here. The firm's website says it operates through two business lines, growth equity and structured capital.
The firm describes its capital as long-term growth equity and structured capital for lower middle market software and technology-enabled companies. A PrivateEquityList profile also lists Seed, Series A and Series C+ among its investment stages. Check sizes are not published in the sources reviewed. The firm's website also says it invests in and acquires growth businesses, and its structured capital line has raised separate funds, most recently a final close for Level Structured Capital III reported in March 2026.
- levelequity.com
- levelequity.com/our-business
- levelequity.com/eoy-2025-p
- prnewswire.com/news-releases/level-equity-closes-130-million-new-fund-
- prnewswire.com/news-releases/level-equity-closes-255-million-new-fund-
- prnewswire.com/news-releases/level-equity-closes-second-structured-gro
- streetinsider.com/dr/news.php?id=26142881
- crunchbase.com/organization/level-equity
Investing activity
Level Equity is listed on Lounge as a venture capital investor based in New York, New York, United States. The deals desk records Series A and later AI rounds and seeds over $10M, so smaller checks may not show here yet.
Deals
Frequently asked questions about Level Equity
Does Level Equity invest in AI startups?
Level describes itself as a growth investor in software and technology-enabled businesses, with an operations team that helps portfolio companies adopt AI. The public sources reviewed do not list named AI-focused investments.
How large are Level Equity's funds?
Level Equity Growth Partners I closed at $130 million in 2011 and Growth Partners II at $255 million in 2013. Growth Partners III totaled $357 million in commitments, and Level Structured Capital II closed at $157.5 million in 2023.
Who founded Level Equity and when?
Ben Levin, George McCulloch and Sarah Sommer founded Level Equity in 2009. Levin is the co-founder and CEO of the New York firm.
What stages does Level Equity invest in?
Focus tags for the firm are Series B, Series C+ and public companies. A third-party directory also lists Seed and Series A, and check sizes are not published in the sources reviewed.
Where is Level Equity based?
Level Equity is based in New York, New York, United States.
How can founders reach Level Equity?
Founders on Lounge can see Level Equity's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Level Equity to their Investor Pipeline to track the conversation.