business-succession
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The Private-Equity Firm That Passes the Hat
Borgman Capital buys the kind of profitable, founder-led companies that rarely become household names. Its twist is structural: no traditional fund, capital raised one deal at a time, and a real-estate team that can buy the building along with the business.
Timah Partners
Timah Partners is a Singapore-based permanent holding company that acquires essential, recurring B2B SMEs across Southeast Asia and holds them for the long term, with no intent to flip. Founded by Dennis Chua, it pairs patient capital with a CEO Succession (CEO-in-Training) program that develops the next generation of operators to run its portfolio companies. The firm positions itself as a permanent home for owners who lack a succession plan, prioritizing culture, founder legacy, and operational stewardship over quick exits. It closed a US$50 million Series A in June 2025.
Baton
Baton is a New York-based online marketplace that helps owners sell their small businesses and helps buyers acquire them. It replaces the slow, opaque world of traditional business brokers with fast data-driven valuations, confidential listings, digital data rooms, and guided M&A support - achieving a roughly 70% close rate at about half the cost of conventional brokers.