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HCAP Partners is a Southern California-based, diversely owned private equity firm and recognized impact investor providing mezzanine debt and private equity for underserved, lower-middle market companies throughout the United States, with an emphasis on the Western U.S. The firm seeks to invest $5M–$35M in established businesses generating $10M–$100M in revenues across healthcare, technology, services, and manufacturing industries. HCAP is known for its expertise in deal origination, deal structuring, and assisting companies to enhance performance through its Gainful Jobs Approach™ — an operational impact framework designed to improve job quality, expand economic opportunity, and advance diversity, equity, and inclusion within portfolio companies. It is a partner of choice for companies and private equity firms seeking both equity and mezzanine debt for growth, acquisitions, and other strategic initiatives, seeking to generate above-market-rate returns while improving the lives of portfolio company employees.
Notable quotes
“We are thrilled to partner with Blackford Capital, a firm known for its successful investment track record in lower middle market. We are committed to deploying capital in underserved markets that have the potential to generate job growth and economic impact.”
“In a December 2023 interview with Authority Magazine, Hope Mago shares his journey into impact investing, highlighting key moments in his career. He emphasizes the importance of aligning business models with impact goals, advocates to support underserved communities, and encourages young people to leverage their voices for positive change.”
“[HCAP Partners] really took the time to get to know our business, and it was clear from their questions that they understood the markets that we were serving. The other thing that really attracted me to HCAP was the flexibility that they offered in ways that they could invest in us.”
Team
Hope Tarirai Mago
Senior Partner
Stefan Okhuysen
Senior Partner
Jessica Kim
Vice President
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Puzzle Healthcare | Growth Equity / Mezzanine | — | 2025 |
| IND, Inc. | Management Buyout / Growth Capital | — | 2025 |
| Federal EC, LLC | Acquisition Support / Mezzanine | — | 2025 |
| Real Diagnostics (RealDx) | Acquisition Support / Growth Capital | — | 2025 |
| Aarista LLC | Growth Equity / Mezzanine | — | 2024-08 |
| Apprio | Growth Equity / Mezzanine | — | 2024-01 |
| Cubex | Growth Equity / Mezzanine | — | — |
| Lumifi | Growth Equity / Mezzanine | — | — |
| BetterNight | Mezzanine Debt and Equity | — | 2019-08 |
| Xevant | Growth Equity / Mezzanine | — | — |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Blackford Capital | 2 |
| Salt Creek Capital | 1 |
| Crescent Peak | 1 |
| FVLCRUM Funds | 1 |
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