Strategic Acquisitions Active expansion through platform acquisitions as evidenced by the Vast Coworking Group deal suggests potential cross-sell of value-add services, deal sourcing partnerships, and opportunities to engage founder-led businesses seeking strategic exits or equity growth.

Founder-Focused Value Investor emphasis on founder-led and high-quality businesses indicates a sales angle targeting services that support founders during transitions, including growth capital, governance enhancements, and strategic advisory for scale.

Forge Select Launch of Forge Select signals a dedicated non-control investment niche with independent sponsor networks; opportunities exist to partner with sponsors, provide co-investment opportunities, or tailor solutions for sponsor-led deals and portfolio add-ons.

Middle-Market Footprint Revenue within mid-market range and moderate headcount position New State as a potential partner for growth-focused services such as enterprise software enablement, operational improvements, and scalable financing structures tailored to companies with up to $40M EBITDA.

Geographic & Network Growth Recent office expansion and strategic hires indicate momentum and broader geographic reach; this creates upsell opportunities for regional service offerings, due diligence support, and relationships with financial advisers and investment banks active in affiliated deal flows.