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About

Mizzen Capital primarily invests debt into U.S. based lower middle market companies. We tailor capital structures to fit company's needs and objectives. We prioritize transparency and aligned goals.

Our Team

Marilyn Adler

Managing Partner

Liddy Karter

Managing Partner

Annie Li

Managing Director

DEI Policy

Diversity, Equity and Inclusion are core tenets of Mizzen Capital’s priorities across every level of our firm in everything that we do - across gender, culture, ethnicity, disability and veteran status, among others. As a certified women and minority owned firm, our team is highly diverse. We embrace different perspectives and believe this leads to better decision making. We foster a collaborative culture based on trust, respect and integrity.

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Strategy

A company's success is our success. Our interests must be aligned and our commitments to each other must be clear and achievable.

Investment Characteristics

Targeting companies with EBITDA of $1M to $15M
Emphasis on business models with free cash flows, recurring revenues and lower capex and consistent historical financial performance
Strong, Experienced Management team with demonstrated commitment to success
Defensible industry leadership or distinguished market niche
Growing market with fundamental value proposition
Asset base or reliable cash flows to support loans.
Located in the United States or its territories

Industry Sectors

Manufacturing
Industrial
Business Services
Healthcare Services
Information Technology
Software
Energy Transition

Transaction Structures

Senior Secured First Lien, Senior Secured Second Lien, Mezzanine With Warrants and Equity Co-Investment.
Under 4x leverage
Use of Proceeds: Including but not limited to providing working capital, recapitalizations, acquisitions, and growth
Investment Size can range up to $30M, larger loans will be syndicated. Smaller transactions will be considered if they are integral to a larger relationship

Download Mizzen Deal Flyer

Mizzen Philosophy and ESG Impact

Mizzen employs ESG approach to investing

The success of Mizzen Management, LLC (“Mizzen”) depends on the success of our portfolio companies, our investors, our colleagues and our communities and we consider all of them in our decisions.
Small businesses provide the vitality and foundation of communities and Mizzen is dedicated to supporting the growth of small U.S. based businesses.
Mizzen is a women-owned SBIC fund with a diverse and inclusive team that connects us to diverse ownership teams seeking investment. Mizzen:
- Value honesty and integrity in everything we do.
- Strive to act responsibly and to communicate clearly.
- Build long term relationships based on trust and respect.
- Empower our team and companies with aligned goal.

Mizzen commits to U.N. PRI

Incorporate ESG issues into our investment analysis and decision-making processes.
Be active owners and incorporate ESG issues into our ownership policies and practices.
Seek appropriate disclosure on ESG issues by the entities in which we invest.
Promote acceptance and implementation of the Principles within the investment industry.
Work together to enhance our effectiveness in implementing the Principles.
Report on our activities and progress towards implementing the Principles

Mizzen is committed to uphold the U.N. principles of responsible investing (“U.N. PRI”) in the following manner:

Download Mizzen Impact Report

2021

2022

2023