Truelink Capital Raises $2B for Second Middle-Market Buyout Fund
Something interesting is happening in Los Angeles, and it is moving with the quiet confidence of people who know exactly what they are building. Truelink Capital just closed Truelink Capital Fund II, L.P. at a $2.0B hard cap, oversubscribed and wrapped in less than 3 months. The target was $1.5B. The market answered louder. When institutional capital moves that fast, it is not chasing noise. It is chasing conviction.
Credit where it is due. Congratulations to Co-Founders and Managing Partners Todd Golditch and Luke Myers, along with Kendra Sluty, CFO & CCO, and Adam Rimmer, Partner and Head of Operations. The leadership bench also includes Stuart Waldman, Sam Handler, Scott Koprivetz, In Kwon, Peter Lewis, Rodman Ngo, Victor Yang, Stephanie Stricker, Samson Soon, Robert Scully, Adrianna Borgatello, JP Frey, and Dana Nakashima. A tight crew, 20+ professionals across investment, operations, business development, investor relations, finance, and accounting. Small enough to move fast. Experienced enough to know when not to.
The numbers tell their own story if you listen carefully. Fund I came out of the gate at $950M. Fund II lands at $2.0B. Total assets under management now sit around $4.2B. That kind of momentum does not happen because someone wrote a clever pitch deck. It happens because investors see a repeatable rhythm. Identify strong middle market companies in industrials and business services. Step in beside management teams. Push commercial growth, operational transformation, and strategic M&A with discipline that survives the messy parts of the economy.
And the economy is messy. Macroeconomic volatility, shifting M&A conditions, and the steady drumbeat of AI reshaping how companies operate. Some firms freeze when the landscape moves. Others lean in. Todd Golditch said it best when pointing out the opportunity to invest in companies with strong fundamentals at attractive entry points while building real value through operational improvement and commercial acceleration. That is not financial engineering theater. That is sleeves rolled up work.
The investor base reads like a passport full of stamps. Pension plans, endowments, foundations, insurance companies, financial institutions, family offices, consultants, and institutional investors across North America, Europe, Asia, the Middle East, Australia, and South America. Different accents, same idea. Back the teams who can navigate turbulence and still compound value.
Truelink Capital launched in 2022 and already built a portfolio of 11 platform investments in Fund I, with 5 new platforms announced in 2025 alone. The firm focuses on 2 sectors where execution separates professionals from spectators: industrials and business services. Industries where operational muscle still matters, where strategy meets factory floors, logistics chains, and the quiet math of efficiency.
The name Truelink feels appropriate. In private equity, the real currency is connection. Not networking theater. Real links between operators, investors, and leadership teams willing to build something durable. Capital may open the door, but conviction keeps it open long enough for value to walk through.