# Arsenal Growth Equity

> Arsenal Growth Equity is a Winter Park, Florida growth-equity firm that invests $5 million to $15 million in B2B software and tech-enabled services businesses, often as their first institutional backer. Its stated target is unusually concrete: recurring-revenue companies around $5 million to $25 million in revenue, with at least 25% annual growth, 70% gross margins and 90% retention. Arsenal says it has deployed more than $500 million across more than 50 companies in business productivity, commerce and supply chain, compliance, cybersecurity, data, digital health, education technology and fintech.

- **Founded:** 2002
- **Headquarters:** Winter Park, United States
- **Founders:** John Trbovich (Co-Founder and General Partner)
- **Team size:** 11-50 employees on LinkedIn; the supplied company record lists 12 employees
- **Products:** Growth equity investments, Operational support, Network access, Follow-on and transaction support
- **Notable:** More than $500 million deployed into growth-stage software companies, according to Arsenal., More than 50 companies backed globally over more than 25 years, according to Arsenal., Closed a fourth growth fund, Arsenal Growth Equity IV, announced in January 2025.

## Products & services

- **Growth equity investments** — Flexible investments typically ranging from $5 million to $15 million in growth-stage B2B software and tech-enabled services companies.
- **Operational support** — Strategic counsel and operating experience intended to help management teams improve execution, capital efficiency and profitable growth.
- **Network access** — Introductions and support through Arsenal's network of operators, advisers, portfolio leaders and co-investors.
- **Follow-on and transaction support** — Participation in later rounds and acquisition financing for existing portfolio companies, as illustrated by Cart.com, OneRail and Beamer.

## Achievements

- More than $500 million deployed into growth-stage software companies, according to Arsenal.
- More than 50 companies backed globally over more than 25 years, according to Arsenal.
- Closed a fourth growth fund, Arsenal Growth Equity IV, announced in January 2025.
- Co-led OneRail's $33 million Series B in 2022.
- Helped finance Beamer's $60 million acquisition of Userflow in 2024.
- Led or co-led Tadaweb's $20 million financing with Forgepoint Capital International in 2025.
- Portfolio company Accent Technologies was acquired by Volaris Group in May 2026.
- Existing portfolio company Cart.com announced a $180 million strategic investment in March 2026.

## Latest updates

- **2026-05** — Portfolio company Accent Technologies was acquired by Volaris Group.
- **2026-03** — Cart.com announced a $180 million strategic investment; Arsenal was listed among the existing investors continuing their support.
- **2025-06** — Tadaweb raised $20 million from Arsenal Growth Equity, Forgepoint Capital International and existing investor Wendel.
- **2025-01** — Arsenal announced the close of Arsenal Growth Equity IV, its fourth growth fund; no amount was disclosed publicly in the announcement.
- **2024-11** — OneRail raised a $42 million Series C with participation from Arsenal and other existing investors.

## Links

- Website: https://www.arsenalgrowth.com
- LinkedIn: https://www.linkedin.com/company/arsenal-growth

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Last updated: 2026-08-16