NewSpring is a lower-middle market private equity firm based in Radnor, Pennsylvania, operating five distinct strategies: Growth, Healthcare, Mezzanine, Holdings, and Franchise. The firm partners with high-potential companies, providing capital, operational support, and strategic guidance to help them scale.
Average disclosed round size is $31.4M (across 55 rounds with reported amounts).
Portfolio
46
Fund Size
$390M
Top Stage
Series B
Last 12 Mo
1
Team
Andrew Panzo
General Partner
Kapila Ratnam
General Partner
Marc Lederman
General Partner
Patrick Sugrue
General Partner
Skip Maner
General Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
58 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Bite Investments | Growth | $25M | Sep 2025 |
 Jones | Series B | $15M | Jan 2025 |
| AaPriori | Strategic | $20M | Jan 2025 |
 AeroSafe Global | Growth | $43M | Aug 2023 |
| AAeroSafe | Series F | $43M | Aug 2023 |
 Venn | Series A | $29M | Jun 2023 |
 Cordial | Series C | $50M | Jul 2022 |
 Federal Donuts & Chicken | Unknown | — | Apr 2022 |
 Enboarder | Series B | $32M | Feb 2022 |
 Appcues | Series B | $32.1M | Jan 2022 |
 Celigo | Series C | $48M | Dec 2021 |
 Circonus | Series B | $10M | Nov 2021 |
 Bespoke post | Series B | $40M | Oct 2021 |
 ExecOnline | Unknown | $45M | Oct 2021 |
 Deposco | Series B | $35M | Mar 2021 |
 Fashionphile | Series B | $38.5M | Aug 2020 |
 ParkWhiz | Series D | $25M | Nov 2018 |
 Intersection | Growth | $150M | Nov 2017 |
 Energage | Bridge | $15M | Oct 2017 |
 LookingGlass Cyber Solutions | Debt | $26.3M | Aug 2017 |
 Vacasa | Series B | $103.5M | Jan 2017 |
| IInteractions Corporation | Growth | $56M | Aug 2016 |
| Vacasa | Series A | $64M | Jan 2016 |
| VVidSys | Unknown | $11M | Jan 2016 |
 Verisma | Unknown | $12M | Oct 2015 |
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Top Co-Investors
LLR Partners4 shared
Domain Associates3 shared
Baird3 shared
Wave Capital2 shared
Merck Global Health Innovation Fund2 shared
Hamilton Lane2 shared
Flybridge Capital Partners2 shared
Menlo Ventures2 shared
Riverwood Capital2 shared
Ben Franklin Technology Partners2 shared
Alumni Ventures2 shared
Gaingels2 shared
Greycroft2 shared
Golub Capital2 shared
Edison Partners2 shared
Alsop Louie Partners2 shared
Neuberger Berman2 shared
TL Ventures2 shared
MPM Capital2 shared
Amazon Alexa Fund1 shared
Last updated: 7 September 2026