Trive Capital had a transformative year in 2025. We maintained a long-term perspective while identifying opportunities to create value across our portfolio and through new investments. Over the past year, we successfully closed 7 new platform investments and completed 21 add-on acquisitions across existing portfolio companies. Just as importantly, we continued to strengthen our organization by promoting 21 team members and welcoming 23 new colleagues to the firm.

“2025 was a year of meaningful growth for Trive, as evidenced by the significant number of new investments, new hires and promotions. In a challenging and dynamic market environment, our platform and differentiated approach position us well to identify and execute compelling opportunities. As we look ahead to 2026, we remain focused on partnering with new and existing portfolio companies to deliver bespoke capital solutions, drive operational value creation, and capitalize on opportunities in an evolving market.” 
– Conner Searcy, Managing Partner

Trive Capital is enthusiastic about our future. We thank you for your continued support and we look forward to working together in 2026.

New Platform Investments

Transaction Spotlight

Karman Space & Defense – Trive’s First IPO

On February 13, 2025, Trive Capital portfolio company Karman Space and Defense successfully went public on the New York Stock Exchange (NYSE). Karman began trading the same day under the ticker KRMN, opening more than 30% above its IPO price. The upsized offering raised over $500 million for Karman and certain existing shareholders.

Karman is included herein as it is Trive’s first IPO. Information on other portfolio companies is available in the Portfolio section of Trive’s website.

Awards

Trive paid application fees for the “Top 50 PE Firms in the Middle Market” (GCI Publishing) and “Founder-Friendly Investors” awards. Trive did not provide compensation in connection with the award for “Top Private Equity Innovator” (BluWave), though BluWave provides due diligence services to Trive. BluWave’s assessment is independent of such awards. The “Top 50 PE Firms in the Middle Market” award is a program designed by GCI Publishing to acknowledge and promote small and mid-sized leading private equity firms in the middle market. More information is available at https://awards.gradycampbell.com/. The “Founder-Friendly Investors” award is a program designed by Inc. Magazine to help founder-led companies accelerate growth and create revenue. More information is available at https://www.inc.com/founder-friendly-investors. The “Top Private Equity Innovator” award is a program designed by BluWave to recognize leaders across the private equity industry. More information is available at https://www.bluwave.net/awards/.