Who is Radian Capital?
Radian Capital is a growth equity firm based in New York City, founded in 2016 by Jordan Bettman and Weston Gaddy, who both previously worked at Bain Capital Ventures. Radian invests in B2B software and software-driven services companies. Partners Aly Lovett and Mattia Flabiano round out the senior team.
Radian raised $500 million for its third fund, according to an SEC filing reported by Buyouts in February 2022. The January 2026 Biller Genie announcement credits Radian with more than $1.8 billion in assets under management, and FinTRX’s registered investment adviser data lists $1.9 billion. Radian invests from closed-end funds, so its capital eventually requires an exit or a recapitalization.
What does Radian Capital buy?
Radian Capital targets capital-efficient, founder-led B2B software and services companies with established revenue and proven unit economics. Third-party investor profiles list checks of $5 million to $30 million, while Radian partner Aly Lovett described a range of $10 million to $60 million in an interview with Espresso Capital.
| Criterion | Stated position | Source |
|---|---|---|
| Check size | $5 million to $30 million per profiles; $10 million to $60 million per partner interview | SuperScout; F4; Espresso Capital interview |
| Revenue band | Not published anywhere Windsor Drake could locate | radiancapital.com |
| Stage | Execution stage, roughly Series A through Series C | F4; VCSheet |
| Company profile | Capital-efficient, founder-led, sustainable growth over growth at all costs | Espresso Capital interview; radiancapital.com |
| Sectors | Vertical SaaS, fintech and payments, insurance software, security, healthcare IT, ecommerce infrastructure | radiancapital.com portfolio; F4 |
| Structure | Minority or majority, including partial liquidity for bootstrapped founders | VCSheet |
Radian publishes no revenue band and no ownership targets. That absence is itself useful information: Radian keeps full flexibility on structure, so a founder should expect terms shaped around the specific situation rather than a standard template.
What has Radian Capital actually invested in?
Radian lists 30 active portfolio companies on its website, but disclosed deal terms exist for only three of them across eight years of announcements.
| Company | Announced | Disclosed amount |
|---|---|---|
| CyberFOX | February 2026 | Not disclosed |
| Biller Genie | January 2026 | $22 million Series B, led by Radian |
| Browzwear | August 2021 | $35 million |
| BriteCore | May 2018 | $13 million growth investment |
| Thinkific, Mural, GreyNoise, Spectora, Encompass Technologies | Various | Not disclosed; listed on Radian’s portfolio page |
Radian’s exits include Emailage, acquired by LexisNexis; TCG Player, acquired by eBay; VPL, acquired by LLR Partners; Emporia Holdings, acquired by K1; and Yardzen, acquired by Oldcastle APG. Terms of those exits are not disclosed.
The Browzwear investment shows the profile Radian prefers. Browzwear built 3D apparel design software for roughly 20 years without outside funding, growing profitably, before taking Radian’s $35 million in 2021.
What does Radian Capital typically pay?
Radian Capital does not disclose valuations, multiples, or ownership stakes in any transaction Windsor Drake could locate. The public record contains three dollar figures in total: $13 million for BriteCore in 2018, $35 million for Browzwear in 2021, and $22 million for Biller Genie in 2026.
Jordan Bettman’s comment on Biller Genie is the clearest public signal of what Radian prices: “Biller Genie’s growth profile is exceptional, particularly given the limited capital required to reach this scale.” Radian pays for capital efficiency, and capital-efficient software companies are exactly the profile many other buyers also want.
What remains unknown: entry multiples, how checks split between founder liquidity and primary capital, and board or preference terms. A founder negotiating with Radian alone has no public comparables to check an offer against, which strengthens the case for generating competing bids.
How does Radian Capital find companies?
Radian partner Aly Lovett describes thematic sourcing built on vertical-specific deep dives and market research into pain points flagged by enterprise buyers. Radian also accepts direct pitches through its website, and SuperScout notes warm introductions are preferred but not mandatory.
Radian’s outbound footprint is smaller than the dedicated sourcing operations at firms like Five Elms Capital, but the target is the same: bootstrapped software companies with no advisor and no other bidders at the table. A thematic approach means Radian often arrives having already studied the founder’s market in depth.
What does a Radian Capital approach look like?
Radian’s stated focus on bootstrapped, capital-efficient companies means its approaches usually land on founders who have never raised money or run a sale process. The pitch most associated with Radian’s positioning is partial liquidity: take meaningful money off the table, keep control, and grow with a partner. VCSheet’s profile describes this as enabling “life-changing partial exits” for bootstrapped founders.
Partial liquidity offers deserve the same scrutiny as full sales, because the valuation set in a minority round anchors the price of every later transaction. Windsor Drake’s guidance for founders holding an inbound offer covers the first response, and the banker question is worth settling before any financials change hands. Exclusivity asks in these deals run 30 to 90 days as a standard request; Windsor Drake recommends conceding no more than 30 to 45.
What is life like after selling to Radian Capital?
Public founder accounts of Radian ownership are limited to deal press releases. BriteCore CEO Phil Reynolds said in the 2018 announcement that “Radian values sustainable growth, long-term partnership, and ongoing investment in new capabilities.” Press release quotes are approved by the investor and should be read as marketing.
No independent post-investment founder interviews surfaced in the research for this page. A founder in diligence with Radian should request direct references from portfolio CEOs two or more years into the relationship, at companies like BriteCore, Browzwear, or Spectora.
Who else would compete for a company Radian wants?
Growth equity firms pursuing the same capital-efficient B2B software companies include Five Elms Capital, Serent Capital, Mainsail Partners, Level Equity, and JMI Equity. Software consolidators such as Valsoft and Volaris pursue full control of similar companies, especially in vertical markets.
A bootstrapped company with strong unit economics is the single most contested asset type in lower-middle-market software. The trait Radian screens for guarantees other buyers would bid if asked.
What would a competitive process change?
Windsor Drake calls the gap between what a serial acquirer pays in an unbanked bilateral negotiation and what the same business clears in a competitive process The Proprietary Discount. Windsor Drake’s process work puts that gap at 15 to 25 percent of enterprise value. A Radian approach to a bootstrapped founder with no advisor is the textbook setting for The Proprietary Discount: one sophisticated buyer, no reference bids, and a first-time seller.
A Windsor Drake sell-side process opens with a buyer universe of 150 to 300 potential acquirers, including every growth equity firm named on this page. Running that process alongside a live Radian conversation takes 4 to 6 months and does not require rejecting Radian; it requires Radian to price against the market.
Founders holding a live Radian approach can engage Windsor Drake’s Approach Response to test the offer against competing bidders before exclusivity forecloses the option.
Questions founders ask
Who owns Radian Capital?
Radian Capital is an independent growth equity firm founded and led by Jordan Bettman and Weston Gaddy. It invests limited partner capital from closed-end funds, including a $500 million third fund reported in an SEC filing in 2022.
How much does Radian Capital invest per deal?
Third-party profiles list $5 million to $30 million, and Radian partner Aly Lovett has described $10 million to $60 million. The three publicly disclosed checks are $13 million, $22 million, and $35 million.
Does Radian Capital buy majority stakes?
Radian invests in both minority and majority structures. The firm is publicly associated with partial liquidity deals that let bootstrapped founders take money off the table while retaining control.
Why is Radian Capital contacting my bootstrapped company?
Radian’s stated thesis targets capital-efficient, founder-led software companies, and the firm sources through vertical research themes. Contact means the company fits a theme Radian has studied. It carries no information about price.
What has Radian Capital paid in past deals?
Valuations are undisclosed in every Radian transaction on the public record. Only check sizes are known: $13 million for BriteCore in 2018, $35 million for Browzwear in 2021, and $22 million for Biller Genie in 2026.
Is Radian Capital the same company as Radian Group?
No. Radian Capital is a private growth equity firm in New York investing in B2B software. Radian Group is an unrelated publicly traded mortgage insurance company. The two share nothing except part of a name.
Who competes with Radian Capital for software companies?
Five Elms Capital, Serent Capital, Mainsail Partners, Level Equity, and JMI Equity pursue similar capital-efficient B2B software companies. Consolidators such as Valsoft and Volaris compete for control transactions.
Last reviewed July 28, 2026 by Jeff Barrington, Founder and Managing Director, Windsor Drake. Content on this page may be cited with attribution and a link to https://windsordrake.com/acquirers/radian-capital/