Data as of Sep 21, 2026 · Based on 309 AI responses from ChatGPT Search and Google AI Mode · See how Parse measures this
If you need expansion capital without giving up control, start with growth-equity firms that do minority stakes: 
Brands AI recommends here
Named in 61% of answers
Named in 47% of answers
Best for founder-led, high-growth companies seeking minority growth rounds across tech and healthcare; cited as a global growth equity firm experienced in non-control investments that retain management influence.
Named in 46% of answers
Named in 42% of answers
Source | Citation share |
|---|---|
 What Private Capital Firms Provide Growth Equity Funding?https://altfundsglobal.com/premium/what-private-capital-firms-provide-growth-equity-funding/ | 4% |
 The Top Private Equity Firms of 2025 - GrowthCaphttps://growthcapadvisory.com/the-top-private-equity-firms-of-2025/ | 3% |
News & Insights - Great Point Partnershttps://www.gppfunds.com/news-insights/ | 2% |
 The Minority Capital Solution for Family Businesses | Bessemer Trusthttps://www.bessemertrust.com/insights/a-closer-look-the-minority-capital-solution-for-family-businesses | 2% |
 PE Investors 2026: Growth Equity & Buyout Firms for Startupshttps://www.ellty.com/blog/private-equity-investors | 2% |
 Top Private Equity Firms in 2026: Rankings, AUM & Deal Activityhttps://privateequitylist.com/resources/top-private-equity-firms | 2% |
 Top 25 Growth Equity Firms - Growth Equity Interview Guidehttps://growthequityinterviewguide.com/growth-equity/what-is-growth-equity/growth-equity-firms | 2% |
The Top Growth Equity Firms of 2024 - GrowthCaphttps://growthcapadvisory.com/the-top-growth-equity-firms-of-2024/ | 2% |
 TA Associates - Wikipediahttps://en.wikipedia.org/wiki/TA_Associates | 1% |
 Steven E. Bartz | Private Equity Lawyer | Professionalshttps://www.gtlaw.com/en/professionals/b/bartz-steven-e | 1% |
If by **“non-control”** you mean you want to raise substantial equity for expansion while **retaining control of the company and day-to-day management**, you’re generally looking for **growth equity / minority private equity**, rather than a traditional buyout fund.…
If by “non-control” you mean you want to raise substantial equity for expansion while retaining control of the company and day-to-day management, you’re generally looking for growth equity / minority private equity, rather than a traditional buyout fund.
There isn’t one universally “best” investor—the right shortlist depends heavily on your industry, revenue/EBITDA, valuation and the size of the check. But these are some of the more relevant firms to investigate in 2026:
| Investor | Particularly relevant when… | Current non-control evidence |
|---|---|---|
| New Mountain Capital – Strategic Equity | You are a sizable middle-market company seeking a substantial minority investment | Its Strategic Equity Fund II raised $1.2B specifically for minority/non-control investments in founder- and sponsor-backed businesses. New Mountain Capital |
| Cyprium Partners | You want expansion capital plus flexibility around debt/equity | Cyprium specializes in non-controlling capital and recently announced its 100th non-control investment; it combines minority equity with debt. Cyprium Partners |
| BBH Capital Partners | You are founder/family owned and need roughly $50M–$150M | BBH explicitly offers minority/non-control investments, growth financing and M&A capital, with stated investments of $50M–$150M and target enterprise values up to $750M. BBH |
| Alterna Equity Partners | You're lower-middle-market, founder/family owned | Alterna explicitly makes minority investments, generally $5M–$20M of equity, and focuses on businesses with $10M–$150M revenue. It has a particular focus on the U.S. South. Alterna Equity Partners |
| Summit Partners | You have a strong growth story, particularly in technology, healthcare or business services | Long-established growth-equity platform; growth equity commonly involves significant minority ownership rather than buyouts. Growth Equity Interview Guide |
| TA Associates | You're a larger, profitable growth company, particularly in technology, healthcare or business services | One of the established growth-equity platforms with substantial experience investing in scaling companies. Growth Equity Interview Guide |
| General Atlantic | You're already fairly large and growing rapidly | A major global growth-equity platform and one of the established investors in minority growth transactions. Growth Equity Interview Guide |
For a successful established business needing a major expansion infusion, rather than a startup, I'd initially investigate New Mountain Strategic Equity, Cyprium and BBHCP because their current mandates explicitly address non-control capital rather than merely having the ability to make minority investments.
The distinction matters. A fund saying “we can do minority investments” is different from a fund whose core strategy is partnering with owners without taking control.
Also consider whether you actually want common minority equity. Depending on the expansion, a structured investment—preferred equity, equity plus subordinated debt, or another hybrid—can sometimes provide the capital while requiring less dilution or giving you different governance economics. Cyprium, for example, explicitly combines debt and minority equity.
Give me these five numbers/details:
I can then build you a target list of ~10–15 specific non-control investors, showing their typical check size, industry fit, geographic focus, likely ownership structure, and why each could fit your expansion.
For a successful established business needing a major expansion infusion, rather than a startup, I'd initially investigate New Mountain Strategic Equity, Cyprium and BBHCP because their current mandates explicitly address non-control capital rather than merely having the ability to make minority investments.
The distinction matters. A fund saying “we can do minority investments” is different from a fund whose core strategy is partnering with owners without taking control.
Also consider whether you actually want common minority equity. Depending on the expansion, a structured investment—preferred equity, equity plus subordinated debt, or another hybrid—can sometimes provide the capital while requiring less dilution or giving you different governance economics. Cyprium, for example, explicitly combines debt and minority equity.
When seeking a capital infusion for a major expansion while retaining operational control, you are looking for **growth equity** or **strategic minority equity** investors. These firms take a non-controlling stake (typically under 50%), allowing founders and existing management to stay in the driver's seat while…
When seeking a capital infusion for a major expansion while retaining operational control, you are looking for growth equity or strategic minority equity investors. These firms take a non-controlling stake (typically under 50%), allowing founders and existing management to stay in the driver's seat while leveraging outside capital and strategic expertise.
Top-tier non-control and growth equity investors are categorized below by their specialization and market focus:
To help narrow down which of these partners might be the best fit, could you tell me:
**Non-control private equity—frequently called growth equity or minority-stake investing—allows you to secure expansion capital while keeping operational control and majority ownership.** [[1]](https://privateequitylist.com/resources/top-private-equity-firms)[[2]](https://en.wikipedia.org/wiki/Private_equity) When…
Non-control private equity—frequently called growth equity or minority-stake investing—allows you to secure expansion capital while keeping operational control and majority ownership.
When raising minority growth capital, you want partners with a track record of supporting founder-led or mature scaling companies without forcing a buyout or heavy governance restrictions [1.1.1 (Mainsail Partners)].
If you can share your industry, approximate annual revenue , and how much capital you need , I can narrow down which of these firms or alternative structures (like mezzanine debt or structured equity) fits your expansion plan best.
If the business is profitable and you want **growth capital without giving up control**, I’d look primarily at **growth-equity and dedicated non-control PE funds**, rather than traditional buyout firms. “Non-control” generally means the investor takes a minority position and funds expansion, acquisitions, new…
If the business is profitable and you want growth capital without giving up control, I’d look primarily at growth-equity and dedicated non-control PE funds, rather than traditional buyout firms. “Non-control” generally means the investor takes a minority position and funds expansion, acquisitions, new facilities, or other growth initiatives while the founders/management retain control.
A strong current shortlist is:
I'd divide the market into three categories:
| Investor type | Typical fit | Control |
|---|---|---|
| Growth equity | Profitable, rapidly growing company needing expansion capital | Usually minority |
| Non-control PE / structured equity | Mature company needing a larger capital package, acquisition funding or recapitalization | Minority, often with negotiated protections |
| Traditional buyout PE | Company where owner is willing to sell control | Usually majority/control |
For a major expansion project, the second category can be especially interesting because you may be able to combine minority equity + subordinated/private debt, reducing the amount of ownership you have to sell. Cyprium and GTCR are examples of firms explicitly pursuing this kind of structure.
Give me these six numbers:
With those, I can build a 2026 investor shortlist matched to your company, including approximate check sizes, sectors, geography, minority/non-control track record, and links to the firms' official sites.
When looking for a capital infusion to fund a major expansion without giving up operational control or majority ownership, you are looking for **Growth Equity** or **Significant Minority/Non-Control Private Equity** investors. These firms take a minority stake (usually 15% to 45%), leaving founders and existing…
When looking for a capital infusion to fund a major expansion without giving up operational control or majority ownership, you are looking for Growth Equity or Significant Minority/Non-Control Private Equity investors. These firms take a minority stake (usually 15% to 45%), leaving founders and existing management teams at the helm while providing deep pockets and strategic scaling resources.
The top-tier "non-control" and growth equity investors renowned for partnering with scaling, entrepreneur-led businesses include:
If you tell me your industry sector and approximate revenue range , I can narrow down which of these firms has the best track record for your specific market.
Yes. If by **“non-control”** you mean you want to raise substantial equity while retaining voting/operating control, I’d look beyond traditional buyout PE and focus on **minority growth equity, minority recapitalizations, and structured/preferred equity**. The best investor depends heavily on your size and industry,…
Yes. If by “non-control” you mean you want to raise substantial equity while retaining voting/operating control, I’d look beyond traditional buyout PE and focus on minority growth equity, minority recapitalizations, and structured/preferred equity.
The best investor depends heavily on your size and industry, but here’s a strong starting shortlist for a U.S. privately held company:
| Investor | Particularly good for | Why I'd consider them |
|---|---|---|
| Brown Brothers Harriman / BBHCP | Founder/family-owned lower-middle-market businesses | Explicitly makes minority/non-control investments, including growth financing and M&A; current stated investments are roughly $50M–$150M. BBH |
| Cyprium Partners | Established companies needing expansion/M&A capital | One of the more specialized non-control investors; particularly interesting when equity can be paired with structured/debt capital |
| New Mountain Capital — Strategic Equity | Larger, mature growth companies | Dedicated strategic-equity strategy for minority/non-control investments; better suited to sizable transactions |
| Summit Partners | High-growth, profitable companies | Strong growth-equity platform and particularly attractive if the expansion could materially accelerate revenue/EBITDA |
| TA Associates | Technology, healthcare, business services | Major growth-equity investor with substantial experience backing companies without necessarily requiring a buyout |
| General Atlantic | Larger, rapidly growing companies | Excellent if you're already at significant scale and have a compelling growth story |
| JMI Equity | B2B software / tech-enabled services | Particularly worth considering for founder-led technology businesses |
| Alaris Equity Partners | Cash-flowing businesses wanting flexible capital | Structured/preferred equity can be an attractive alternative to selling a large common-equity stake |
| HCAP Partners | Healthcare and lower-middle-market services | Combines minority growth equity, preferred equity and mezzanine-style capital |
| Alterna Equity Partners | Founder/family-owned middle-market companies | Worth exploring when the objective is growth capital rather than a traditional control transaction |
Current market activity supports looking at this category: U.S. growth funds reportedly raised $33.2 billion in the first half of 2026, up 36% year over year, although investors have become more selective.
If you're a profitable founder-owned business, I'd start with BBHCP and Cyprium.
If you're $100M+ revenue with strong growth, I'd move New Mountain Strategic Equity, Summit, TA and General Atlantic toward the top.
If you're software/technology, I'd look especially hard at TA, Summit, JMI, General Atlantic and similar growth-equity firms.
If your expansion requires, say, $30M but you don't want to give up 30–40% of the company, I'd seriously consider a hybrid structure: minority preferred/common equity plus debt or subordinated capital. That can sometimes accomplish the expansion with substantially less dilution.
One important caveat: “non-control” does not mean “no control rights.” A minority investor may still negotiate board seats, veto/protective provisions, preferred returns, liquidation preferences, anti-dilution protection and approval rights over major transactions. The term sheet matters more than simply saying “we're selling 25%.”
If you give me just these 5 numbers/details:
…I can narrow this to 5–8 specific investors, rank them for your situation, and tell you which ones are most likely to accept a genuinely non-control deal and what type of structure I'd pursue with each.
Current market activity supports looking at this category: U.S. growth funds reportedly raised $33.2 billion in the first half of 2026, up 36% year over year, although investors have become more selective.
If you're a profitable founder-owned business, I'd start with BBHCP and Cyprium.
If you're $100M+ revenue with strong growth, I'd move New Mountain Strategic Equity, Summit, TA and General Atlantic toward the top.
If you're software/technology, I'd look especially hard at TA, Summit, JMI, General Atlantic and similar growth-equity firms.
If your expansion requires, say, $30M but you don't want to give up 30–40% of the company, I'd seriously consider a hybrid structure: minority preferred/common equity plus debt or subordinated capital. That can sometimes accomplish the expansion with substantially less dilution.
One important caveat: “non-control” does not mean “no control rights.” A minority investor may still negotiate board seats, veto/protective provisions, preferred returns, liquidation preferences, anti-dilution protection and approval rights over major transactions. The term sheet matters more than simply saying “we're selling 25%.”
If you give me just these 5 numbers/details:
…I can narrow this to 5–8 specific investors, rank them for your situation, and tell you which ones are most likely to accept a genuinely non-control deal and what type of structure I'd pursue with each.
When a business is performing well and looking for growth capital rather than a buyout, founders typically look for **growth equity** or **structured minority equity** investors. These firms specialize in "non-control" investments, meaning they take a minority stake (usually 10% to 49%), leave day-to-day operations…
When a business is performing well and looking for growth capital rather than a buyout, founders typically look for growth equity or structured minority equity investors. These firms specialize in "non-control" investments, meaning they take a minority stake (usually 10% to 49%), leave day-to-day operations and strategic control in your hands, and act as collaborative partners to fund expansions, acquisitions, or major scaling projects.
The top-tier private equity and growth equity firms renowned for non-control/minority investments include:
If you can share your industry and the approximate capital amount you're looking to raise, I can help narrow down which of these firms aligns best with your specific stage and sector.
No sources cited
Yes. If your business is already profitable and the capital is for a **major expansion**, I would look beyond traditional buyout PE and focus on **minority growth equity, non-control PE, and structured equity**. These investors are specifically designed to put substantial capital into an established company while…
Yes. If your business is already profitable and the capital is for a major expansion, I would look beyond traditional buyout PE and focus on minority growth equity, non-control PE, and structured equity. These investors are specifically designed to put substantial capital into an established company while leaving the founder/management team in control.
| Investor | Best fit | Why I'd consider them |
|---|---|---|
| BBH Capital Partners | Founder/family-owned lower-middle-market companies | Explicitly offers minority/non-control transactions, including growth capital and M&A. Current stated investment size is $50M–$150M, with target EV up to $750M. BBH Brown Brothers Harriman |
| Alterna Equity Partners | Smaller U.S. businesses | Particularly interesting if you're in the lower middle market. It explicitly makes both majority and minority investments, with $5M–$20M equity investments and a stated focus on the South. Alterna Equity Partners |
| New Mountain Capital – Strategic Equity | Larger, established companies | Strong candidate if your capital requirement is substantial. Its Strategic Equity strategy is specifically oriented toward minority/non-control investments. |
| Cyprium Partners | Companies needing a mix of equity + debt | One of the more natural fits for non-control capital, particularly when an expansion can be financed with a combination of minority equity and subordinated debt. |
| Summit Partners | High-growth, scalable businesses | Better fit if you're growing quickly and have a compelling expansion story rather than simply needing balance-sheet capital. |
| TA Associates | Larger growth businesses | Particularly attractive for technology, healthcare, financial/business services and other scalable sectors where institutional growth capital can accelerate expansion. |
| General Atlantic | Large, rapidly scaling companies | Excellent growth-equity franchise, but generally appropriate only once you're at meaningful scale. |
| Roswell Growth Partners | Founder who wants growth capital without a traditional PE sale | Interesting alternative: its stated model emphasizes growth capital without taking ownership at closing and without board control. Roswell GP |
There is an important difference between a firm that can do a minority deal and one where minority investing is genuinely part of its model.
BBH Capital Partners says its minority/non-control structure is intended for privately held businesses that want to retain economic control while obtaining institutional capital and resources. It also specifically works with founder-, family-, and management-owned companies.
Alterna is especially interesting if you're a smaller company in the U.S. South. Its stated criteria include $10M–$150M revenue, $3M–$15M+ EBITDA, and $5M–$20M equity investments, with explicit minority-investment capability.
For an expansion project, I wouldn't automatically raise the entire amount as common equity.
Suppose you need $20M. A potentially much better structure could be:
That can dramatically reduce the percentage of your company you have to sell.
And "non-control" does not mean "no strings attached." A minority investor can still negotiate board seats, veto rights over major transactions, preferred returns, liquidation preferences, anti-dilution protection and other governance rights. The goal should be retaining practical control, not merely selling less than 50%.
Growth equity is particularly appropriate when the expansion itself will consume cash before it generates EBITDA; the investor is underwriting the future growth rather than requiring the project to immediately service a large debt load.
If you give me just these five numbers, I can build you a much more useful ranked list of 5–10 investors:
I can then tell you which investors are realistic for your size, likely check size, minority-investment track record, sector fit, and which ones I'd approach first.
BBH Capital Partners says its minority/non-control structure is intended for privately held businesses that want to retain economic control while obtaining institutional capital and resources. It also specifically works with founder-, family-, and management-owned companies.
Alterna is especially interesting if you're a smaller company in the U.S. South. Its stated criteria include $10M–$150M revenue, $3M–$15M+ EBITDA, and $5M–$20M equity investments, with explicit minority-investment capability.
Yes. If the business is already profitable and you need a **large equity check to fund expansion while keeping control**, I would generally look at **growth-equity / minority private equity** rather than traditional buyout PE. The best investor depends heavily on your industry, EBITDA/revenue, amount of capital…
Yes. If the business is already profitable and you need a large equity check to fund expansion while keeping control, I would generally look at growth-equity / minority private equity rather than traditional buyout PE.
The best investor depends heavily on your industry, EBITDA/revenue, amount of capital needed, and whether you want one-time expansion capital or an ongoing M&A partner.
| Investor | Best fit | Why I'd consider them |
|---|---|---|
| Summit Partners | Profitable growth companies | Explicitly does minority investments and typically invests $10M–$500M; strong track record across technology, healthcare and growth products/services. Summit Partners Summit Partners |
| General Atlantic | Larger, rapidly scaling businesses | One of the premier global growth-equity platforms, with considerable resources for international expansion and acquisitions. Its recent transactions demonstrate willingness to make minority investments. General Atlantic General Atlantic |
| TA Associates | Established companies needing significant growth/M&A capital | Particularly interesting for technology, healthcare, financial services and business services. |
| JMI Equity | B2B software / tech-enabled businesses | A particularly strong candidate if your expansion is technology-driven or acquisition-driven. |
| New Mountain Capital | Larger middle-market companies | Worth considering when the required capital is substantial and you want sophisticated operational/M&A resources. |
| Brown Brothers Harriman Capital Partners | Founder/family-owned businesses | Explicitly offers minority/non-control transactions designed for companies wanting capital while retaining economic control, including capital for growth and M&A. BBH |
| Alaris Equity Partners | Owners wanting particularly flexible capital | More structured-capital oriented; potentially attractive when you want to minimize dilution and traditional PE governance. |
Summit would be one of my first calls if the facts fit. Its own description is unusually explicit: it can be either a minority or majority investor and structures investments around the objectives of founders and management.
"Non-control" does not mean "they leave you completely alone."
A minority investor may still negotiate:
So I'd optimize for economic control + governance flexibility, not merely "less than 50% ownership."
If you give me these 5 numbers/details, I can build you a targeted shortlist of perhaps 10–15 investors, ranked by fit, including likely check size and why I'd approach each:
For example, a $30M EBITDA manufacturing company seeking $50M for expansion calls for a very different investor list than a $30M-revenue SaaS company seeking $50M.
For example, a $30M EBITDA manufacturing company seeking $50M for expansion calls for a very different investor list than a $30M-revenue SaaS company seeking $50M.
A minority investor may still negotiate:
So I'd optimize for economic control + governance flexibility, not merely "less than 50% ownership."
For an expanding, well-performing business seeking a capital infusion without giving up operational control or majority ownership, **growth equity and minority-focused private equity firms** are the ideal partners. These investors typically take a 10% to 40% non-controlling stake, allowing founders to retain…
For an expanding, well-performing business seeking a capital infusion without giving up operational control or majority ownership, growth equity and minority-focused private equity firms are the ideal partners. These investors typically take a 10% to 40% non-controlling stake, allowing founders to retain decision-making power while leveraging outside capital and strategic expertise.
Top Non-Control / Growth Equity Investors
Strategic Considerations for Non-Control Deals
| Metric / Dimension | Growth Equity / Minority PE Approach | Traditional Buyout PE Approach |
|---|---|---|
| Ownership Stake | Minority / Non-Control (10% - 40%) | Majority / Controlling (50% - 100%) |
| Control & Governance | Founder retains operational control; investor takes board seat / protective rights | PE firm manages or directs operational restructuring and leadership changes |
| Value Drivers | Organic and inorganic market growth, scaling revenues | Financial engineering, leverage, and aggressive operational turnarounds |
| Typical Check Size | Varies widely ($8M to $500M+ depending on firm tier) | Tied to enterprise valuation and majority buyout requirements |
If you share your industry and the approximate dollar amount you need for the expansion, I can narrow down which of these firms or sector-specific players are the best fit for your project.
