Wall Street Rigor.
Main Street Heart.
Independent. Disciplined. Opportunity-Driven.
INDY Capital Partners is an independent investment manager providing flexible capital to profitable private companies across Canada and the United States. We do not charge management fees. We do not earn a dollar until you have earned 7.5% first.
0%
ASSET MANAGEMENT FEE
7.5%
PREFERRED RETURN HURDLE
100%
INDY INVESTS ITS OWN CAPITAL ALONGSIDE INVESTORS IN EVERY DEAL
Our Approach
Private Markets. Structural Advantages.
Downside protection is built into how we enter every deal — not bolted on after. We target profitable, growing private companies at disciplined entry multiples of 4 to 6 times EBITDA. We apply modest leverage, build value alongside management, to grow and exit at a much larger multiple.
Built By Operators. Committed To Stewardship.
After thirty years building, scaling, and exiting businesses across wealth management, financial services, and technology. Steve has worked alongside management teams to take companies from startup to hundreds of millions in valuation, executed successful public market exits, and delivered investor returns ranging from 8 to 22 times original invested capital across multiple ventures.
At INDY, he leads with the same discipline that has defined every business he has built. Capital is treated as an owner would treat it. Principals co-invest in every deal. The board provides oversight. Interests are aligned by design.
30+
Years Ops
Experience
8x-22x
Return Range Across Ventures
100%
Deals are co-invested
"We don't want to be in the fundraising game — we want to be in the business of finding great companies. That is why we don't earn a performance fee until you have achieved your return first."
— Steve Meehan


We Only Succeed When Investors Succeed.
Traditional private equity firms charge a 2% management fee regardless of whether you make money. They get paid to hold your capital. We don't. With zero management fees and a 7.5% preferred return hurdle, we do not earn a dollar until you have earned yours first.

Zero Management Fees
No ongoing fee based on assets. We don’t get paid to hold your capital.

50/50 Participation Above Hurdle
Profits split equally after the preferred return is achieved.

7.5% Preferred Return Hurdle
Investors earn first 7.5% annualized before we participate.

Principals Co-Invest
We invest alongside you. Our capital is at risk in every deal.
Two Strategies. One Philosophy.
Whether you’re seeking quarterly income or long-term capital appreciation, we apply the same rigorous standards and aligned fee structure to every investment.
NEW FUND — LAUNCHING 2026
INDY Equity Fund
GROWTH
Long-Term Capital Appreciation
12-15% Target Returns
5-8 Year Hold Period
7.5% Preferred Hurdle
FUND 1 — ESTABLISHED 2014
INDY Income Fund
(formerly Glen Road Fund #1)

INCOME
Consistent Quarterly Income
8-10% Target (11%+ Historical) Quarterly Distributions 7.5% Preferred Hurdle
Stay in the Know
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