NEW YORK, 12 November 2024—Spring Street Capital LLC (“Spring Street”), a New York-based entrepreneurial investment fund, announced today that it has held its final closing and will immediately commence a nationwide search to acquire a well-established software company with an enterprise value of $10-30 million. Following the acquisition, Spring Street will take a senior operating role within the company to expand and accelerate its business growth and increase stakeholder equity.
Leading the search process is Spring Street’s Managing Partner, Sanket Bhasin, who has 18 years of experience in building and scaling software companies. Bhasin has founded and sold two businesses and has recently been advising Fortune 500 executives on business building. He has worked with teams at Boston Consulting Group Digital Ventures, Shell Oil Company, Kimberly-Clark, and others across the U.S., Australia, and the U.K. Bhasin studied Computer Science at the Royal Melbourne Institute of Technology and holds an MBA from the Australian Graduate School of Management and The University of Chicago Booth School of Business. Bhasin serves as a coach for entrepreneurship at The University of Chicago and a speaker for entrepreneurship at the Australian Government Department of Education.
“Spring Street will focus on software businesses where the current management team wishes to retire or reduce active involvement in the company,” said Bhasin. “An ideal company would be a well-established business with stable cash flow, low research and development costs, and high growth potential. Since we are a smaller firm, we can be more agile than our competitors and assess strategic opportunities in a shorter time frame. We are also well-positioned to assist founders seeking a hands-on buyer with extensive software operational expertise and a long-term commitment to their personnel, clientele, and legacy.”
With extensive entrepreneurial experience and deep software operational expertise, Spring Street will enhance revenue opportunities and improve the efficiency of the acquired company.
“Our main goal is to find a growing business, improve upon it, increase employee and customer satisfaction, and leave the business in better shape than when we found it,” said Bhasin. “We have an investment group of highly successful entrepreneurs, and anyone selling their business will interact directly with the people making the decisions. They are not going to be left in the dark.”
Spring Street has secured investment from 20 limited partners, including 11 current or former chief executive officers and seven institutional investors.
“We chose to invest in Spring Street because of Sanket’s deep software operational expertise, pragmatic and analytical approaches, and his commitment to success,” said Daan Staffhorst from Dellin Investments, Limited Partner with Spring Street. “We are confident in Sanket’s process and believe in Spring Street’s ability to develop and cultivate key relationships, which should ultimately lead to their successful acquisition and operation of a target company.”
For more information about business opportunities with Spring Street, contact: Sanket Bhasin, +1(646) 209-6095 or sanket@springstcap.com