The Value Creation Gap: Why PE Firms Are Leaving 2–4x on the Table in Their Software Portfolios
PE firms are exceptional at spotting undervalued software businesses and less consistent at unlocking the operational value they found. This post explains the value creation gap in software portfolios: why operating partner bandwidth, customer success run as a cost centre, ICP drift, misaligned product and revenue teams, stalled management capability and weak data infrastructure keep commercial plans behind schedule. It draws on Bain's 2026 Global Private Equity Report (average hold of about seven years, required EBITDA growth now 10% to 12%), Private Equity Info's analysis of 13,757 exits, Gain's European PE report, Benchmarkit and Software Equity Group multiples data, and is explicit about which figures are dated or small-sample. It closes with a diagnostic operating partners can run before the next board meeting. Written by James Lawson of River Consultancy Group, who has worked across 41 software businesses.
The Pace Band Problem: What 10 to 25% ARR Growth Actually Takes
Most SaaS growth targets fail from lack of pacing, not lack of effort. This post uses a marathon pace band analogy to explain what 10 to 25% ARR growth actually takes for founder-led and PE-backed SaaS businesses: why plans outrun delivered growth, and how ICP discipline, expansion loops and OKR alignment must be paced against each other rather than pushed at maximum effort. It draws on Benchmarkit, Maxio, SaaS Capital, High Alpha and Startup Genome data, including median private SaaS growth of 22 to 26%, rising new customer CAC, the 40% share of new ARR now coming from existing customers, and the link between net revenue retention and growth. It then shows how the Revenue Strategy Lab and an embedded Fractional Growth Partner build a paced growth plan that holds.
The Dropped Baton: Why SaaS Growth Stalls in the Handoff, Not the Sprint
SaaS growth rarely stalls because one team runs slowly. It stalls in the handoffs between Sales, Marketing, Customer Success, Product and Executive Leadership. This post uses a relay-race analogy to show where revenue operations breaks down in founder-led and PE-backed SaaS businesses: the sales to customer success handoff, OKRs that never reach weekly execution, CRM data that misses expansion and churn signals, and a single go-to-market motion applied across very different segments. It draws on Benchmarkit, SaaS Capital, Software Equity Group and Gartner research to link weak handoffs to net revenue retention, SaaS valuation multiples and revenue leakage, then explains how the Revenue Strategy Lab and an embedded Fractional Growth Partner rebuild cross-functional alignment, OKR cascades and clear ownership at every handoff.