Virent Capital Launches with Focus on Digital Enablement

Virent Capital has been launched by Connor McMahan, a former partner at L2 Capital, to invest in companies operating in the U.S. lower middle market.

Virent began operating in May and is pursuing control investments in founder-led services and consumer companies with under $8 million of EBITDA.

In addition to capital, Virent offers its portfolio companies operational support through its digitally enabled operating platform, Virent Drive, which is designed to help portfolio companies scale through technology enablement, operational modernization, and growth-focused partnerships.

Virent’s operating capabilities include Internet of Things (IoT), artificial intelligence and machine learning, ecommerce, application development, and performance marketing—tools rarely found in lower middle market companies. While the firm primarily targets the services and consumer sectors, it also seeks opportunities in adjacent industries where digital transformation can accelerate value creation.

Mr. McMahan has more than a decade of experience from his tenure as a partner at L2 Capital where he led investments across founder-owned businesses. Bob Levine, the founder of L2 Capital, has committed capital to Virent’s launch and will support the firm as it grows its platform.

“Virent was created to meet the needs of founders looking for more than just capital. We are building a firm purposefully designed for this segment of the market, offering the structure, resources, and strategic support to help companies scale with focus and integrity,” said Mr. McMahan. “I am grateful to my mentor and anchor investor, Bob Levine, and to our senior advisors for their belief in my vision. Their support and partnership are instrumental to what Virent is building.”

“Connor and I have worked closely together for more than a decade, and I’ve had the opportunity to see his instincts and discipline as an investor play out time after time,” said Mr. Levine. “He has consistently earned the trust of founders and delivered strong outcomes for all stakeholders. My family and I are proud to support him in this next chapter and are confident in his ability to grow, build, and succeed with Virent over the coming years.”

Virent Capital is headquartered near Philadelphia in Radnor, Pennsylvania.

© 2025 Private Equity Professional | June 3, 2025