About
We provide capital and strategic partnership to values-driven, market-leading companies and funds with potential for outsized returns for all stakeholders.
We currently have five main practice areas. First, we invest directly in profitable, lower middle market companies with $10 million to $100 million in revenue, and $3 million to $20 million in owner’s earnings. Second, we invest directly in promising, early-stage technology companies across Seed and Series A stages. Third, we invest in publicly traded companies. Fourth we invest in domestic real estate with a primary focus on value-add strategies. Finally, we use a fund of funds strategy to invest in venture and private equity fund managers through primaries, secondaries, co-investments, and GP stakes.
We are distinct in our values-driven approach to investing, our ability to hold investments long term, our willingness to customize solutions to owner needs, and the excellence with which we execute through disciplined strategic, operational, and financial partnership.
Markets
We invest in five market segments.
Private Equity
Sovereign’s Capital provides a range of capital solutions to lower middle market companies with revenues between $10 million and $100 million, and owner earnings of $3 million to $20 million.
We make majority investments for ownership transitions and leadership successions. We also make minority investments for growth, acquisitions, and partial shareholder liquidity.
Some of our industry interests include services (industrial, commercial, consumer), education (skilled trades, specialized training), health & wellness (fitness, analytics, home care services), specialty manufacturing (unique products and industrial services), and software (specialty, B2B, mission critical).
Venture Capital
Sovereign’s Capital partners with growing venture stage companies operating in expanding markets in the U.S. and Southeast Asia.
We invest in early Seed stage companies with clear differentiators, to include data moats, complex or deep technologies, sticky customer relationships, or other sources of value. We also invest in late Seed and Series A companies with demonstrated traction and economic moats.
We have a broad range of industry expertise, with a bias for industries where our partners and advisors have relevant experience. These include B2B software, deep tech, B2C software, healthcare IT, and tech-enabled goods and services. We typically deploy $300,000 to $3 million per investment, and we work closely with portfolio companies to provide targeted strategic and operational partnership.
Public Equity
Sovereign’s Capital invests in public companies led by values-driven teams that have built unique cultures designed to promote human flourishing and financial performance.
We are U.S.-focused and invest across nearly all industries and market capitalizations. We seek to deliver investment performance by coming alongside the highest caliber management teams. We aim to deliver impact by serving the leadership of companies in which we invest by providing examples of best practices that encourage exceptional cultures and market-leading performance.
Fund of Funds and Co-investing
Sovereign’s Capital Access Fund invests in private equity and venture funds, with a focus on funds managing $25 million to $500 million in assets.
We invest in primaries, secondaries, GP stakes, and direct deals across venture and private equity, both in the U.S. and abroad. We prioritize managers focused on strategies that promote human flourishing for customers and employees alike, with primary focus in healthcare, human performance (e.g. wearables), education, small business, and technology. Our commitment is to both market leading returns and strong values.
Real Estate
Sovereign’s Capital invests in U.S. based real estate alongside values-aligned managers that recognize the opportunity for impact within the spaces and communities that they serve.
Real estate operators have the ability to cultivate environments in which all people can experience authentic community, redeeming relationships, and neighborly love in the spaces they live, work, and gather. We pursue equity interests with an eye towards current yield and have a preference for housing sector value-add strategies that are led by excellent operators.
Criteria
We evaluate all investment opportunities with the following criteria in mind

Team First
We partner with people first. We work hard to understand the vision that each business leader has for creating extraordinary value for all stakeholders well into the future.

Defensible Advantages
We partner with companies that have economic moats. They have an edge based on operational excellence, technological barriers, long-term customer relationships, dominant market share, or other sustainable competitive advantages.

Growth Focus
We partner with leaders seeking expanded impact. We are growth-minded and invest in companies with highly scalable business models.

Thriving Culture
We partner with leaders who view culture as a competitive advantage. Our leaders take pride in and have evidence of cultures that delight all stakeholders – employees, families, customers, vendors, and others.

Proven Performance
We partner with businesses that have sustained results. These companies have proven track records of financial success, with the strategic and operational focus to maintain results for the long term.
portfolio companies
Venture Capital
- All
- Current
- Exited
-
CLOUDFACTORY
Cloudfactory is a scalable human-in-the-loop workforce to accelerate your artificial intelligence initiatives and optimize business operations.
-
GRAB
Grab is Southeast Asia’s leading superapp. It provides everyday services like Deliveries, Mobility, Financial Services, and More.
-
XENDIT
Xendit is the leading payment gateway for Indonesia, the Philippines and Southeast Asia.
-
IMMERSED VR
Immersed VR connects distributed teams through a shared VR workplace and collaboration tools to maximize productivity. -
SPRINGBUK
Springbuk is the leading employer-facing health analytics software that helps forecast cost and improve population health with confidence.
-
MAXWELL
Maxwell is a digital mortgage platform and value-added services designed exclusively for small to midsize mortgage lenders.
-
Charityvest
Give to any charity with your Charityvest Fund. It’s simple, secure, and free: 100% of your donation goes to the charities you care about. -
-
THRIVE FARMERS
Thrive is a coffee distribution company that connects the farmer directly with the final consumer through a new model of supply chain management and customer engagement.
-
Atlas
Atlas is building the operating system for restaurants, focusing on Southeast Asia — the easiest way to start, run and grow any restaurant online and offline.
-
ArenaCX
ArenaCX is a global marketplace connecting brands with outsourcing providers worldwide and revolutionizing the BPO industry.
-
Acre
Acre is a real estate technology company fundamentally changing the way people purchase and care for homes, allowing them to purchase only as much as makes sense for them.
-
BRIDESTORY
Bridestory is a leading online wedding vendor platform in Southeast Asia. The company was acquired by Tokopedia in 2019.
-
LOKET
Loket is the leading event management, ticketing and data analytics company in Indonesia. It was acquired by GoJek in 2017.
-
FIRST
First uses artificial intelligence to drive home sales by predicting when and why people move. It was acquired by RE/MAX in 2019.
-
FIVESTARS
Fivestars provides a platform for loyalty, marketing, and payments to small businesses. It was acquired by SumUp in 2021.
-
410 MEDICAL
410 Medical developed a simple, intuitive solution that allows a single healthcare provider to rapidly deliver fluid to critically ill patients, improving care and saving lives.
-
Ardius
Ardius helps companies easily claim federal and state R&D tax credits. It was acquired by Gusto in 2021.
-
Anutra Medical
Anutra Medical is a medical company focused on dentistry with a device enabling quicker onset of numbness and simplified use of pharmaceuticals.
-
CLADWELL
Cladwell enables users to create and maintain capsule wardrobes to reduce clutter and embody their personal style, helping them create and share outfits with ethically sourced, quality clothes.
-
CONCERT GENETICS
Concert Genetics is a healthcare technology company dedicated to making genetic testing more transparent and efficient for stakeholders across the healthcare system.
-
COVIE
Insurance Data Made Simple. Covie is the easiest way to integrate insurance data from your users without having them leave your own web app.
-
EMPLOYUS
EmployUs is a crowdsourced employment referral platform to connect prime candidates to job postings. It was acquired by Hireology in 2021.
-
Fakespot
Fakespot, an online service for smarter shopping and decisions, analyzes reviews and provides potential buyers with a grade based on their authenticity.
-
Flightcontrol
Flightcontrol makes it easy for developers to deploy scalable, secure applications without any DevOps. Flightcontrol provides a layer on top of AWS that makes it very easy to use and lets them take advantage of the raw power of AWS.
-
FRINGE
Fringe is the world’s first platform for personalized Fringe benefits, saving companies time and money by providing hundreds of life-impacting benefits without the hassle.
-
GoCheck
GoCheck Kids helps primary care networks implement cost-effective and bidirectionally integrated pediatric vision screening.
-
goKampus
goKampus is an all-in-one app for university students’ campus needs from applications, scholarships, loans, and required campus materials. For universities and corporate partners, goKampus provides instant admission, marketing, tuition payments, and internship programs.
-
HACKTIV8
Hacktiv8 provides immersive, rapid education for developers with always updated curriculum to build skill in the latest software and professionalism for the technology industry.
-
HUNTCLUB
Hunt Club is a new category of search firm that leverages the power of relationships and referrals to find you the best talent. Our technology transforms thousands of subject matter experts into the world’s most powerful talent network.
-
Hydra
Hydra provides cross-cloud capabilities with a single API to deploy and host your apps across all public cloud providers, private clouds, or both. Whether security, resilience, or scale focused, they can help.
-
KAMMOK
Kammok is an innovative outdoor brand for the socially conscious adventurer. Their high-quality hammocks and other products are available in REI and on their website.
-
Kno Global
Kno Global’s vision is to humanise the supply chain, converting real-time transparent data from factory workers into actionable insights for factories and brands.
-
Komunal
Komunal digitizes rural banks through its DepositoBPR platform, which lets users make deposits and apply for loans digitally. In addition, Komunal also has a peer-to-peer lending platform that connects MSME borrowers with lenders.
-
LIQUIDIA TECHNOLOGIES
Liquidia is a pharmaceutical company transforming therapy development with precision particle engineering. It went public in 2018 (NASDAQ: LQDA).
-
MAN CRATES
Man Crates creates inventive gifts for men. It was purchased by Modern Gourmet Foods in 2023.
-
Nimbly Technologies
Nimbly is a mobile solution that transforms manual operational processes into real-time actionable information. By digitizing manual checklists and converting data into insights, Nimbly enables organizations to manage their operations anytime, anywhere.
-
Paraclete
Paraclete is the world’s first SoulCare* platform connecting employees to on-demand, confidential conversations to pursue a thriving life at work, home, and everywhere in between.
-
Pigeon Loans
Pigeon Loans is a global lending platform that facilitates the creation and management of loans between friends, family, loved ones, and people who trust one another. Pigeon Loans seeks to empower individuals to borrow and lend money with the people they trust.
-
Power to the Brand
Power to the Brand is a ‘marketing-and-distribution-
as-a-service’ company in Southeast Asia helping consumer brands enter the growing market and succeed. -
Preveta
Preveta is a B2B SaaS startup focused on patient insights and outcomes for healthcare providers and pharma.
-
PRINTEROUS
Printerous is an online platform producing the finest quality printed goods. They offer a suite of products for personal, business, and artistic printing needs.
-
REBELWORKS
Rebelworks is a software development lab that offers premium outsourced programming work for companies. As a major hub of technical talent in Jakarta, Rebelworks also incubates its own projects.
-
RELAY
Relay is the data-driven approach for the frontline workforce, using PTT hardware to leverage its powerful, flexible software platform.
-
REVBOSS
RevBoss is a SaaS (software as a service) product that quickly identifies a large base of qualified sales leads, and helps companies manage relationships with these prospective customers.
-
Safer Management
Safer Management is a software company that accurately tracks student attendance data with the power of Artificial Intelligence and Machine Learning.
-
SHOTTRACKER
ShotTracker aims to improve the performance of competitive basketball players of all ages through our individual and team products.
-
SOAPBOX
SoapBox is a consumer products company that makes natural soaps and shampoos. For every product sold, a bar of soap or a month of clean water is given to a person in need.
-
Sports Visio
Sports Visio is a sports tech company focused on utilizing AI on video feeds of sporting events to extract valuable content for participants, observers, and coaches.
-
Sprout
Sprout is a stakeholder management software and solution that helps companies digitally manage Employee Stock Option Plans (ESOP), fundraising and stakeholders.
-
SUMMIT HEALTHCARE
Summit Healthcare is a training and simulation company for healthcare education in Southeast Asia. It was acquired by a local operator in 2022.
-
TADA
TADA provides an end-to-end customer retention platform for businesses to accelerate growth, improve sustainability, and maximize customer lifetime value.
-
THREADLOOM
Threadloom restores authenticity to internet shopping with improved data and reviews. It was acquired by VerticalScope in 2021.
-
Titipku
Titipku is a grocery delivery platform for Southeast Asia’s local markets with a groceries marketplace, delivery, and pickup services.
-
Yummy Corp
Yummy Corp is an innovative corporate food and cloud kitchen management company, in partnership with the most exciting food brands in Southeast Asia.
Private Equity
-
BASESIX
Basesix is a technology integrator offering networking products to make buildings, campuses, and environments safer, smarter, and simpler.
-
SOUTHEAST LINEMAN TRAINING CENTER
STLC is the premier training school for apprentice lineworker training; consistently producing an elite group of highly trained and certified graduates.
-
RESTOREPRO
RestorePro is a commercial and residential fire, water, and mold restoration services business operating primarily in the central and eastern regions of North Carolina.
-
Camp Gladiator
Camp Gladiator is one of the fastest growing outdoor and virtual group fitness programs in the US, with programs across 14 regions in 300+ cities.
-
Valor Environmental
Valor Environmental provides Best Management Practice (“BMP”) field services, including installation of erosion control products, street sweeping, site maintenance, and other ancillary services.
-
AM Technical Solutions
AM Technical Solutions, Inc is a provider of architectural, engineering, and design solutions, as well as on-site technical, project management and logistical services to the semiconductor and life sciences industries globally.
-
Ascend Wireless Networks
Ascend Wireless Networks addresses all facets of high-speed wireless broadband using its expertise in the micro cellular network, a heterogeneous network made up of small cells and indoor/outdoor DAS, as well as the towers and rooftop sites that make up the macro cellular network.
-
Brindlee Mountain Fire Apparatus
Brindlee Mountain Fire Apparatus was founded in 2001 and is the largest seller of used fire trucks in the country, moving over 500 trucks annually. The Company serves a crucial part of our nation’s infrastructure and allows fire departments to stay fully prepared to serve and rescue people.
-
Cornerstone Support, Inc.
Cornerstone Support manages the complexity of navigating, applying for, and monitoring various licenses for collections industry companies.
-
Gaskins + LeCraw
Gaskins + LeCraw combines the expertise of Gaskins Surveying and the talent of LeCraw Engineering into a dominant civil/survey firm in the greater Atlanta market.
-
RECORD CONNECT
Record Connect efficiently delivers client records management services in an ever-changing healthcare environment.
Team
Our investment team is made up of operators with industry and regional expertise.
-
Luke Roush
Co-Founder and Managing Partner
Luke Roush
Co-Founder and Managing Partner
Luke Roush co-founded Sovereign’s Capital in 2012, and is a Managing Partner for the firm. While living in Kuala Lumpur and Jakarta from 2013-2016, he opened the fund’s operations in Asia. Prior to Sovereign’s Capital, Luke had twelve years of experience in global commercialization and business development at venture-backed and Fortune 500 companies. He was Vice President for Sales, Marketing, and Business Development at TransEnterix (NYSE:TRXC), a medical device company that developed and commercialized a minimally invasive surgical system in the US, Europe, and Asia. Previously, he served as Chief Operating Officer at Liquidia Technologies (NSDQ:LQDA), a nanotechnology company focused on biopharmaceutical applications. Earlier in his career, Luke held sales and marketing roles of increasing responsibility at Boston Scientific and Newell Brands. He also co-founded 410 Medical, a medical device company focused on pediatric emergency care. Luke currently serves on the board of directors for Bandwidth (NSDQ:BAND). He graduated summa cum laude from Duke University, and later earned his MBA from The Fuqua School of Business. Luke resides in Nashville, Tennessee with his wife, Brooke, and their three children.
-
John Coleman
Managing Partner
John Coleman
Managing Partner
John Coleman is Managing Partner of Sovereign’s Capital.
Previously, John held a variety of leadership positions at Invesco, Ltd., including Head of Invesco Private Capital Partners, COO of Private Markets, CAO of Global Institutional Client, and global Head of Strategy and Business Planning.
Other past professional experience includes positions in energy arbitrage, consulting, asset management, and housing and community development with McKinsey & Company, Bridgewater Associates, and the Housing Partnership Network. He has a passion for education and has served on a number of boards related to both K-12 and higher education.
John is a frequent writer and public speaker, with a recurring series of articles at Forbes and HBR, and he has previously published two books. His third book, The HBR Guide to Crafting Your Purpose, will be published in January of 2022.
John is a summa cum laude graduate of Berry College, a graduate with High Distinction from the Harvard Business School where he was a Dean’s Award winner and Class Day Speaker, and a graduate of the Harvard Kennedy School where he was both a Zuckerman and a George Fellow. He lives in Atlanta with his wife, Jackie, and their four children.
-
Casey Crawford
Partner and Board Member
Casey Crawford
Partner and Board Member
Casey Crawford is the co-founder and CEO of Movement Mortgage, a top 10 national retail mortgage lender and six-time member of the Inc. 5000 list. Movement originated $30 billion in residential mortgages in 2020 and gave $200 million of its profit to the Movement Foundation. Casey is also the chairman of Movement Bank and founder and chairman of Movement Schools, a network of tuition-free public charter schools providing world-class academics and character education in underserved neighborhoods.
Based on his belief that a business should be judged not by what it extracts from a community, but rather, by how much it gives, Casey founded the nonprofit Movement Foundation as a vehicle to bring life, light and hope to others. To date, it has received $260 million of company profit to invest in schools, communities and nonprofits around the world.
Casey has been recognized as a John Maxwell Transformational Leadership Award recipient, Ernst & Young Entrepreneur of the Year finalist, HousingWire Vanguard award recipient, and a Charlotte Business Journal Most Admired CEO. He has been featured by national media outlets, including CNBC, Bloomberg, The Wall Street Journal, Fox News, Fox Business, Inc. Magazine and HousingWire.
A Super Bowl champion, Casey played tight end for the NFL’s Carolina Panthers and Tampa Bay Buccaneers from 2000-2003. He graduated from the University of Virginia with All-ACC honors in football and academics. Casey is an avid outdoorsman and accomplished Brazilian jiu-jitsu competitor. He lives outside Charlotte, N.C., with his wife, Michelle, and daughters, Cadie and Josie.
-
Jake Thomsen
Managing Partner, Venture Capital
Jake Thomsen
Managing Partner, Venture Capital
Jake has 16 years of experience in operations and advisory roles spanning from start-ups to public companies. As AVP of Bank of Hawaii, Jake oversaw sales, operations, customer engagement, and marketing for a regional team, with a focus on providing advice and growth capital to local entrepreneurs. He spent four years as an independent consultant, delivering strategy and operations advisory services to start-ups and small companies in the U.S. and Africa. Clients included a distributed solar energy company in Tanzania, a technology commercialization firm in North Carolina, and an innovative credit union with offices across the U.S. As Lead Associate in the Strategic Innovation Group of consulting firm Booz Allen Hamilton, Jake launched and managed a SaaS cybersecurity risk product for large IT organizations, and led business development for energy offerings in Jakarta, Indonesia. He also helped to stand up the Internet of Things (IoT) division, which develops and delivers IoT products and services to Fortune 100 clients. Jake serves as a Partner at Sovereigns Capital. He lives in Durham, NC, with his wife Lauren and twin children Blaise and Vivian. He serves on the boards of Little Lights Urban Ministries and Trinity Fellows Academy. Jake graduated magna cum laude in Economics from Pomona College, and later earned an MBA from The Fuqua School of Business and an MPP in international development from the Sanford School of Public Policy.
-
Michael Tremain
Managing Partner, Private Equity
Michael Tremain
Managing Partner, Private Equity
Michael Tremain is a Partner at Sovereign’s Capital where he concentrates on investment sourcing and portfolio management with a focus on lower middle market opportunities. His career includes stints with TrinRock Capital, Andersen Consulting, the Walt Disney Company, Hard Rock Cafe International and he has led a number of privately held companies in the technology, wholesale distribution, oil & gas, healthcare, residential construction and commercial services sectors.
Michael earned his BS in economics from the University of North Carolina at Chapel Hill and his MS in International Political Economy from the London School of Economics. He and his wife, Kristin, and four children live in Lookout Mountain, Georgia and attend Rock Creek Fellowship. Michael is a member of C-12 Group and the CEO Forum and also serves on the board of directors of the New Canaan Society.
-
Kevin Sutantyo
Partner, Venture Capital Asia
Kevin Sutantyo
Partner, Venture Capital Asia
Kevin Sutantyo was an active Angel investor in both the US and SEA prior to his work at Sovereign’s Capital.
He was an investor/operator for 4 years at an environmental biotechnology company focused on waste management.
Kevin also has experience with the Indonesian public markets as a Commissioner at a local Indonesian securities brokerage, maintaining a fit and proper standing with Otoritas Jasa Keuangan (OJK).
A mechanical engineer by discipline, Kevin holds a Bachelor’s of Science from the University of California San Diego. He brings the problem solving mentality of an engineer to work with entrepreneurs in order to achieve their vision and mission.Kevin is a member at International English Service, in Jakarta. Kevin also is a Jakarta board member of Resource Global, a world wide faith based mentoring program for young marketplace leaders. He and his wife are the proud parents of two.
-
Phil Jung
Partner, Venture Capital
Phil Jung
Partner, Venture Capital
Phil Jung is a Partner on the venture team at Sovereign’s Capital.
Phil was previously the Chief Financial Officer and Chief People Officer at Mindoula Health, a next generation population health company that deploys tech-enabled teams to deliver 24/7 care to populations facing behavioral health and medical challenges. Phil led the company through multiple rounds of equity and debt financings and helped scale the organization from 65 to 325+ employees across 40 states.
Prior to joining Mindoula Health, Phil led investments at the Maryland Venture Fund, a multi-stage venture capital firm in Maryland. He also worked for Foundation Capital, an early- and growth-stage tech fund based in California, and TDF Ventures, an enterprise markets focused early-stage fund based in Washington, DC.
Phil started his career at KPMG’s Risk Consulting practice in the Silicon Valley where he specialized in software asset management for Fortune 500 clients. Phil also co-founded the Jeremy Lin Foundation, a Palo Alto based non-profit whose mission is to love and serve overlooked AAPI and cross-racial youth by supporting comprehensive programs through narrative change and community empowerment.
Phil graduated with honors from UC Berkeley where he received a BA in Economics and earned his MBA with honors from Georgetown University. He lives in Washington, DC with his wife and son.
-
Henry Kaestner
Co-Founder and Partner
Henry Kaestner
Co-Founder and Partner
Henry Kaestner is a co-founder and partner of Sovereigns Capital, an investment fund that invests in the United States and Asia. Previously, Henry was the Co-Founder and previous CEO, and then Chairman of Bandwidth.com (NASDAQ:BAND), along with Republic Wireless he grew with his best friend and business partner, David Morken. The values of Bandwidth have always been: Faith, Family, Work and Fitness (in that order). Bandwidth was the 4th fastest growing privately held company in the country from 2003 through 2007, a position it achieved without acquisition or institutional funding. Prior to co-founding Bandwidth, Mr. Kaestner founded Chapel Hill Brokers (a predecessor to ICAP Energy), an institutional energy derivatives broker that became the top ranked electricity broker in the country. Mr. Kaestner has also been involved in a number of ministry and philanthropic activities. He co-founded Faith Driven Entrepreneur, Faith Driven Investor, and DurhamCares. Additionally, Henry serves as an elder in the Presbyterian Church of America, serves on various ministry and business boards along with the board of Valley Christian Schools in San Jose. Henry lives in Los Gatos, CA with his wife Kimberley and their three sons.
-
David Tjokrorahardjo
Partner, Venture Capital Asia
David Tjokrorahardjo
Partner, Venture Capital Asia
David Tjokrorahardjo is a business leadership coach, a communicator of ideas, a multinational entrepreneur, and an investor. Born and raised in Medan, North Sumatra, David is the third child of Soetekdjo Tjokrorahardjo and Lanny Riady. At an early age, David successfully established a few businesses; Bengkel Cakra and Global Mandarin Centerindo, which were sold in 2005. He then pursued his Bachelor’s degree at Stevens Institute of Technology in Hoboken, New Jersey majoring in Business & Technology. In 2000, David met his wife and a year later, started Heartbead New York, a fashion jewelry retailer which they sold in 2007.
Along with being a Partner at Sovereign’s Capital, David is also the managing principal of MD Co., a venture builder. Together with Merry Riana and other coaches, David is coaching entrepreneurs to build their first million-dollar company. MD Co. is coaching start-up companies that include: Tribelio (community platform), M Kitchen (catering), Popcorn Technology (F&B revenue optimizer), Dream Planner (publisher), GLO (gamification), Kopi M (coffee), Kunataruma (home decor retailer), and Primerry (fashion).
David is the Chairman of the Board of Directors of Sekata Indonesia Perkasa (SIP) and Enlight Consulting. In addition, David also sits on the Advisory Board of LandX, V office, @ngakkaget, and @imp.ak (Indonesia Membangun Pemimpin).
David and Julia actively serve as community leaders in Jakarta Praise Community Church. They are blessed with three children: Rachel, Daniel and Joseph. -
Matt Monson
Partner, Public Equity
Matt Monson
Partner, Public Equity
Matt Monson is a Partner and Portfolio Manager at Sovereign’s Capital with 16 years of experience in investing and finance. Prior to joining Sovereign’s Capital, Matt was a concentrated public equity investor with a passion for investing at ArrowMark Partners, Deccan Value Investors, and Brave Warrior Advisors. Prior to concentrated public equity investing, Matt was a private equity investor at FTV Capital, and an investment banker at UBS Investment Bank. Matt earned a BSB in Finance and Marketing from the Carlson School of Management at the University of Minnesota and an MBA from the Kellogg School of Management at Northwestern University. Matt lives in Denver with his wife, Megan, and their three girls. He enjoys spending time outdoors with his family and playing an active role in their church community, The Pearl Church.
-
Ben Erskine
Partner, Real Estate
Ben Erskine
Partner, Real Estate
Prior to Callis Capital’s merger with Sovereign’s, Ben was its Co-Founder and Managing Partner. He has spent the past 16 years practicing commercial real estate investment and brokerage. Most recently Ben has served as a Managing Director for Jones Lang LaSalle (NYSE: JLL), a fortune 200 global real estate services company. Prior to JLL Ben was an Associate with The Staubach Company. He currently serves on the Apartment Life National Advisory Council, leads the Faith-Driven Investor (FDI) Real Estate Solutions Group, and is an Advisor to several of Callis’ portfolio companies.
-
Jessica Castillo
Operating Partner, Private Equity
Jessica Castillo
Operating Partner, Private Equity
Jessica Castillo is an Operating Partner at Sovereign’s Capital focusing on the lower middle market practice. She brings over 15 years of operational and growth consulting experience across a variety of sectors. Prior to Sovereign’s, Jessica worked in the operating arm at Vista Equity Partners, working closely with the executive teams of rapidly growing SaaS and data businesses on critical value creation initiatives. Before joining Vista, she spent 10 years at McKinsey focused on sustainable operations transformations of industrial and transportation businesses with a dual emphasis on the performance and health of organizations. Jessica is passionate about building businesses that serve both their customers and employees well because of thoughtful leadership and business design.
Jessica earned a B.S. in Petroleum Engineering from Texas A&M University and an MBA from Stanford Graduate School of Business. Jessica lives in Austin with her husband and two children, where they attend Grace Covenant Church and serve in the youth ministry. -
Henry Dawson
Operating Partner, Private Equity
Henry Dawson
Operating Partner, Private Equity
Henry Dawson is an Operating Partner at Sovereign’s Capital in the Lower Middle Market Practice. His focus is partnering with portfolio company leaders to create value by leveraging technology, innovating systems and processes, promoting efficiency, and providing strategic leadership. Henry also serves as the Chief Technology Officer of Southeast Lineman Training Center, a Sovereign’s portfolio company. Prior to joining Sovereign’s Capital, he was an Operating Partner at TrinRock Capital, a private equity firm serving the U.S. gulf coast in the areas of industrial fabrication, oil field services, petrochemical facility maintenance and construction, and health care, where he operated in a variety of c-suite roles. Before TrinRock, Henry worked internationally with Campus Crusade for Christ (Cru) for nine years, where he was based in Florence, Italy. During that time, he functioned as the National Director of Operations and Executive Director, while also serving on the boards of several ministries and non-profits.
Henry earned a B.S. and an M.S. in Accounting from the University of North Texas. He and his wife Michelle reside in Lookout Mountain, Georgia with their two children. They are actively involved in The Mission Chattanooga, a local Anglican church.
-
Michelle Hoffman
Chief Financial Officer and Chief Compliance Officer
Michelle Hoffman
Chief Financial Officer and Chief Compliance Officer
Michelle serves as the Chief Financial Officer (CFO) and Chief Compliance Officer (CCO) of Sovereign’s Capital.
Previously, Michelle was the Chief Administrative Officer for Foundry.ai for both the fund and its portfolio companies. Prior to Foundry, she became a Principle at a national accounting firm after founding and growing a CFO consulting practice that helped early stage companies grow into successful exits to private and publicly traded companies and PE firms.
Throughout her career, she has supported the entrepreneurial community through panels and training for organizations such as the Washington DC Economic Partnership Entrepreneur Road Map Series, the Greater Washington DC Society of CPAs, Women in Public Policy and the DC Lean Startup Meetup. She served as a board member of the Frederick Innovative Technology Center, Inc. (FITCI) a business incubator and accelerator for tech and biotech companies in Frederick, MD.
Michelle is a Certified Public Accountant and was a Crimson Scholar at New Mexico State University graduating Phi Kappa Phi with Honors earning a BBA in Economics and International Business.
She is an avid Major League Rugby fan and Old Glory DC season ticket holder. Her passions include urban economic development and New Mexico Hatch green chili.
-
Clint Park
Director of Sovereign’s Capital Business Consulting Group
Clint Park
Director of Sovereign’s Capital Business Consulting Group
Clint Park serves as the Director of Sovereign’s Capital Business Consulting Group. Prior to joining Sovereign’s, Clint worked as a Senior Business Consulting Advisor for Ronald Blue Trust. In his role, Clint advised business owners regarding practically applying biblical wisdom to build healthy, valuable businesses. This work includes strategic and corporate financial planning, business succession planning, advisory services, business generosity planning, organizational health assessment and corporate culture design. Clint has also served the middle market business owners for over 15 years, providing commercial and investment banking advisory services. Clint also served as a Relationship Manager with Fifth Third Bank, where he worked to build and develop relationships with businesses.
Clint earned an MBA in Finance/Strategy from the University of North Carolina and graduated summa cum laude with a Finance degree from Villanova University. Clint is an active member of his local church and has led several mission trips to Haiti. Clint and his wife, Robin, live in Canton, GA and have a son and a daughter.
-
Andrew Firman
Principal, International Impact
Andrew Firman
Principal, International Impact
Andrew Firman is a Principal at Sovereign’s Capital. He has worked in the finance industry domestically and internationally, including a 4-year stint in Dubai. He has experience in both asset management and investment banking, including time spent at a Canadian single-family office, and as a Vice President with J.P. Morgan. His focuses include alternative investments and impact investing. Mr. Firman is a CFA charterholder and received an undergraduate degree in Economics from Colorado State University. He lives with his wife and daughter in Dallas.
-
Andrew Kean
Principal, Private Equity
Andrew Kean
Principal, Private Equity
Andrew Kean is a Principal at Sovereign’s Capital and concentrates on portfolio management and supporting investments in the lower middle market practice. Prior to joining Sovereign’s Capital, Andrew co-founded and managed a firm that invested private capital to help small businesses transition ownership, find new leadership, and continue to grow. Additionally, he held c-suite leadership roles in successful hospitality, consumer focused, and manufacturing companies.
Andrew is passionate about leadership development, portfolio company strategic planning, and board design and healthy governance. He earned his B.A. in Religious Studies from the University of Virginia and executive certifications in strategic planning (Center for Simplified Strategic Planning) and family business governance (Kellogg School of Management). Andrew was also selected for Harvard Business School’s inaugural Young American Leaders Program and is an alumnus of Leadership Tennessee.
Andrew lives in Chattanooga, TN with his wife Cindy and their three boys. He serves as an elder at New City Fellowship, and as a Board member for the Chattanooga Rotary Club and the River City Company.
-
Adam Nichols
Principal, Private Equity
Adam Nichols
Principal, Private Equity
Adam Nichols is a Principal at Sovereign’s Capital and is focused on investments in the lower middle market. He is involved in all aspects of portfolio investment activity, with primary responsibilities for investment origination and transaction execution. Adam has over 16 years of experience in corporate finance and investment banking advisory. Before joining Sovereign’s, Adam worked in the investment banking division of SunTrust Robinson Humphrey. He was most recently in the Mergers & Acquisitions group where he focused exclusively on advisory, origination, and execution of M&A transactions for Commercial Banking and Private Wealth clients in the Southeast, with a focus on and passion for helping family-owned businesses. Prior to his M&A role, Adam spent several years in the Equity Capital Markets group, originating and executing IPOs, follow-ons, convertibles and private placements for private and public corporate clients.
Adam earned his BBA in Finance at the University of Georgia and his MBA at Emory’s Goizueta Business School. He lives in Atlanta, GA with his wife, Susan, and their three children. They are active members of Peachtree Presbyterian Church, where Adam has been involved for many years in the men’s ministry, Ironmen. In his free time, Adam is also an avid snow skier who enjoys the outdoors.
-
Kenneth Ewell
Principal, Fund of Funds
Kenneth Ewell
Principal, Fund of Funds
Kenny Ewell is a Principal at Sovereign’s Capital. Previously, he served as the Chief Investment Officer of a family office based in Silicon Valley, focused on faith-driven investing. Other past professional experience includes corporate M&A for a large multinational medtech company in the Midwest, emerging markets private equity at Quvat in Indonesia and Singapore, and healthcare investment banking at J.P. Morgan in NYC. He also spent a year in the Philippines through Princeton in Asia, which led to his meeting Sovereign’s and serving on the investment committee for Fund I. Kenny received his AB in Economics from Princeton University, where he also rowed on the varsity crew team. He received his MBA from the Wharton School at the University of Pennsylvania. He resides in the Twin Cities with his wife and three children.
-
Justin Speer
Principal And Senior Analyst, Public Equity
Justin Speer
Principal And Senior Analyst, Public Equity
Justin Speer is a Principal and Senior Analyst on the Public Equities team at Sovereign’s Capital. He possesses nearly 20 years of equity research and investment experience, including over a decade investing in small- and mid-cap growth equities as a Portfolio Manager and Senior Analyst at Invesco / Van Kampen and several years as a Managing Director at investment research firm Zelman & Associates. Before joining Van Kampen Investments in 2008, Justin worked as an equity research analyst with Credit Suisse. For over a decade, he has also served as a deacon in the church of Christ in Katy, Texas with responsibility for fostering World English Institute (WEI), a platform that promotes the worldwide spread of the gospel of Christ while teaching English. He was appointed as a board member of WEI in 2020. Justin has also served as a short-term missionary in Albania, Romania and Katy, Texas.
Justin graduated summa cum laude from Texas Christian University, earning a BBA degree in finance and accounting while competing in cross country and track & field for the university. Justin resides in Katy, Texas with his wife, Mindy, and their two daughters, Jessie Jo and Macie Joy. In his free time, Justin enjoys coaching his daughters’ basketball teams, traveling with his family, and eating far too much Tex-Mex and bar-b-que.
-
Adora Lovestrand
Senior Associate, Venture Capital
Adora Lovestrand
Senior Associate, Venture Capital
Adora Elisapeta Lovestrand is currently a Senior Associate with the firm, supporting VC investing in both Asia and the US. She is also a Venture Partner for Republic, an equity crowdfunding platform democratizing access to startup, crypto, real estate, and video game investment opportunities. She worked in Indonesia for almost 10 years — as an operator and shareholder in a local business conglomerate in the aquaculture and hospitality sectors then as a program manager and lecturer of the Executive MBA at Binus University. In the US, she spent time as a Policy Aide for a senior Congressman in Washington DC. She holds a Bachelor’s degree from Pepperdine University and a Master’s degree from UCLA . Before joining Sovereign’s Capital, she worked in the UK as a Research Associate at the University of Oxford, where she completed postgraduate studies.
Adora hopes to encourage diversity in the finance and tech sectors and also mentors early-career professionals from underrepresented groups, looking to advance in these sectors. Adora is originally from Samoa and is now working remotely from Oxford, UK where she lives with her husband, Joseph. -
Hal Cooley
Senior Associate, Private Equity
Hal Cooley
Senior Associate, Private Equity
Hal is a Senior Associate at Sovereign’s Capital responsible for due diligence and portfolio management of U.S. companies. Prior to joining Sovereign’s Capital, he spent 4 years with SunTrust Bank in Atlanta, GA. Hal held various roles during his tenure at SunTrust including executing strategic Sales Enablement efforts, Commercial Banking Strategy, and most recently as a Sr. Analyst covering technology, healthcare, and business services companies in Georgia.
Hal received his B.S. in Business Management with a concentration in Finance from North Carolina State University.
-
Lee Barkley
Senior Associate, Private Equity
Lee Barkley
Senior Associate, Private Equity
Lee is a Senior Associate at Sovereign’s Capital, focusing on private equity investments in the lower middle market. Prior to joining Sovereign’s Capital, Lee most recently served as Corporate Counsel for Mergers and Acquisitions with National Veterinary Associates, a PE-backed veterinary healthcare company. In this role, Lee was responsible for all aspects of transactions to acquire and integrate veterinary practices into NVA. Before his time with NVA, Lee spent four years in the Mergers and Acquisitions practice group of Jones Day, one of the world’s leading law firms for M&A and corporate work. During his time at Jones Day, Lee counseled clients ranging from startups to Fortune 500 companies on all manner of strategic transactions, operational concerns, and governance issues. Lee’s client base was market-wide, with notable experience in the materials, consumer products, healthcare and life sciences, and energy sectors. Lee began his career by spending two years as a financial analyst and consultant within Daimler AG (then parent to the Mercedes-Benz Group). In this position, Lee was responsible for a broad range of financial analysis and consulting activities, including production finance, corporate finance, and process consulting. Lee worked closely with company leadership across multiple sites in numerous countries.Lee graduated from Mississippi State University in 2012 with a B.B.A. in International Business with a concentration in Finance, as well as a B.A. in Spanish. Lee graduated from the University of Virginia School of Law in 2017 with a J.D. He is a licensed attorney in the state of Georgia. Lee is an actively-involved alumnus of MSU, serving on the Executive Advisory Board of the MSU Department of Finance & Economics and frequently speaking to undergraduate classes about the fields of law, finance, and investing. Lee is an active member of the Federalist Society Huntsville Lawyers Chapter.Lee lives in Huntsville, AL with his wife, Leigh Ellen, and their two children. Lee and his family are active members of Cornerstone Presbyterian Church. Lee gets excited about meaningfully connecting with new people, exploring creation through hiking, climbing, and mountaineering, and playing golf whenever possible. -
Andrew Behrman
Senior Associate, Fund of Funds
Andrew Behrman
Senior Associate, Fund of Funds
Andrew is an Associate at Sovereign’s Capital responsible for sourcing, due diligence, and portfolio management of private fund investments and co-investments. Prior to joining Sovereign’s Capital, he spent two years with Invesco Ltd. as a Corporate Strategist, supporting the firm’s alternatives and institutional business units with fundraising, M&A, and product development efforts. Andrew began his career at SunTrust Robinson Humphrey as an Investment Banking Analyst on the leveraged finance underwriting team, working on several middle-market transactions across a range of industries including financial institutions, technology, business services, and energy.
Andrew received his B.S. in Business Administration with a concentration in Accounting from the Georgia Institute of Technology. He currently resides in Wilmore, Kentucky with his wife, Alyssa.
-
Hank Bowen
Associate, Investor Relations
Hank Bowen
Associate, Investor Relations
Hank is an Associate at Sovereign’s Capital responsible for spearheading fundraising and investor relations efforts. Prior to joining Sovereign’s Capital, he spent several years in various business development roles spanning the financial services landscape. He began his career at Innovator ETFs, where he played an integral role in the firm growing assets under management from 30mm to over 4bn. Hank graduated summa cum laude from Wheaton College with a B.A. in Communications.Hank and his wonderful wife, Emily reside in Nashville, TN with their son, Hayes. -
Nigel Walker
Associate, Private Equity
Nigel Walker
Associate, Private Equity
Nigel is an Associate at Sovereign’s Capital responsible for due diligence and portfolio management of lower middle market U.S. companies. Prior to joining Sovereign’s Capital, he spent 1 year with Fifth Third Securities in Atlanta, GA. Nigel served as an Analyst for the Corporate Finance Group covering tech-enabled business services, industrials, healthcare and consumer & retail companies in Georgia, Tennessee, Michigan, Texas, and Florida. Before Fifth Third, he joined Teach For America as a high school math teacher in Atlanta for 2 years. In 2017, he embarked on the Keegan Traveling Fellowship, a solo trip in which he spent 1 year studying the impact of fatherhood in 22 countries across all 7 continents.
Nigel received his B.S. in Engineering Science with a focus in Engineering Management and Finance from Vanderbilt University. He currently lives in Atlanta with his mother, grandmother, and sister, where he attends Antioch Baptist Church North and serves as a Junior Deacon.
-
Calvin Halim
Associate, Venture Capital Asia
Calvin Halim
Associate, Venture Capital Asia
Calvin is currently an Associate at Sovereign’s Capital, supporting the team with market research, deal sourcing, and managing venture investments in both Asia and US. Prior to joining the firm, he has worked mostly in business development capacity for over 7 years in logistic, industrial lubricant, and technology in both Indonesia and Australia. He finished his Bachelor of Business (Accounting) from Monash University in Melbourne, Australia.
He is passionate about how technology can advance people’s lives for the better. Thus, he is also involved in development projects such as Changemaker.id (Accelerator and mentorship program to build transformative ventures, aiming to raise 1.000 Changemakers in Indonesia in the next 20 years).
-
Cade van Raaphorst
Associate, Real Estate
Cade van Raaphorst
Associate, Real Estate
Cade was an Associate of Callis Capital before its merger with Sovereign’s. Prior to joining Callis, Cade spent three years as an Analyst and Associate at BlackRock Inc. (NYSE: BLK) in New York City where he worked in Global Provider Strategy. Cade graduated from Duke University in 2019 with a degree in Public Policy and a Certificate in Markets and Management Studies.
-
Elise Piehl
Project Manager
Elise Piehl
Project Manager
Elise is a Project Manager for Sovereign’s Capital. Elise received her B.S. in Psychology from Belmont University in Nashville, TN, and joined the Sovereign’s team in 2021. Elise oversees the Sovereign’s Summer Fellowship, manages special events, and provides administrative and operational support to the firm.
Elise and her husband Charlie live in Durham, North Carolina.
-
Jim Fogleman
Advisor
-
Stephen Phelan
Chief Pastoral Officer
Stephen Phelan
Chief Pastoral Officer
Born in Montgomery, Alabama, Stephen is a graduate of the University of Virginia and holds a law degree and a Masters of Divinity degree from Reformed Theological Seminary in Orlando, Florida. Stephen worked in San Diego where he founded a church in the inner-city and helped lead a multi-site, multi-congregational church with 8 campuses serving the local community. In 2017, he moved to the business sector to work as the Chief Pastoral Officer at Movement Mortgage, where he helps to lead corporate culture with initiatives like Movement Mentoring. Movement Mortgage is a top 10 national retail mortgage lender and six-time member of the Inc. 5000 list. Movement originated $30 billion in residential mortgages in 2020 and gave $200 million of its profit to the Movement Foundation. Stephen is also involved in the company’s other community programs, Movements Schools and Love Works.
Advisors
Our advisors contribute their functional, industry, and regional expertise in the discovery, diligence, and ongoing management of portfolio companies.
Careers
Are you or someone you know a fit for Sovereign’s Capital or one of our partner companies?
Feel free to explore the links below for positions we or those companies are looking to fill.
Positions at Sovereign’s Capital

Contact

Administrative Office:
310 S. West Street, Suite 100
Raleigh, NC 27603
E: info@sovereignscapital.com
T: +1 404-260-2798

Other Locations:
Atlanta, GA
Chattanooga, TN
San Francisco, CA
Jakarta, Indonesia