Fundraising focus Target mid-market founder-led opportunities with EBITDA up to $40M, aligning with New State Capital Partners core investment strategy and potential for bolt-on acquisitions or growth equity.

Recent expansion New State Capital Partners has expanded to New Rochelle, NY, signaling geographic growth and increased capacity for origination, deal structuring, and portfolio support in the Northeast region.

Forge Select New State launched Forge Select to partner with leading independent sponsors; this presents a channel for co-investment deals and non-control investments that could align with sponsor-backed portfolio companies seeking liquidity or growth capital.

Franchise/co-working fit Recent acquisition of Vast Coworking Group demonstrates appetite for founder-led platforms and franchised or asset-light expansion models; explore opportunities with scalable service-based businesses and franchise networks seeking strategic growth.

Management incentives Hiring of senior principal Sanjay Gupta and emphasis on founder-led partnerships indicate a strong emphasis on experienced deal leadership; tailor propositions that highlight aligned incentives, clear value creation plans, and governance structures appealing to founder-owners.