Based in Winter Park, Florida, Arsenal Growth Equity is an execution-stage investor that backs capital-efficient software companies at the point where product-market fit is proven and the next job is scaling. The firm sits at the intersection of government, large corporations and emerging technology, and it invests across the United States rather than only in the big coastal hubs.

Investment thesis

Arsenal looks for tech-enabled businesses with $5 million to $25 million in recurring revenue, large addressable markets, world-class teams and founders who want to build enduring value. Its stated hunting grounds are enterprise software, commerce and logistics, and healthcare IT, with past work spanning cybersecurity, e-commerce, fintech and payments, compliance, and cloud software. The firm says it sources more than 3,000 deals a year and is willing to be the first institutional capital into a company.

Cheque size and fund size

Arsenal typically invests $5 million to $15 million per company. Its current fund size is not publicly disclosed: no recent fund total has been announced, so founders should treat the cheque range, not a headline fund number, as the reliable signal of what the firm can write.

Notable portfolio companies

Arsenal co-led the $33 million Series B of Orlando last-mile delivery platform OneRail in December 2022, alongside Piva Capital, and in October 2026 it made a strategic investment in AI-native risk platform DigitalXForce (amount undisclosed). Earlier portfolio names include Cart.com, Stax, Thrive Market, Second Nature and MyUS. Founding partner John Trbovich and general partner Jason Rottenberg lead the team.

Programs, credits and perks

Arsenal runs no public accelerator, incubator or startup credits programme. Its value-add is operational: the firm says it leans on its network across government and large enterprise customers to help capital-efficient companies win deals they could not reach alone. Founders should therefore pitch it as a scaling partner, not as a source of perks.

How to apply for funding

Arsenal Growth Equity runs no open application portal. The realistic route is a warm introduction through a founder, operator or co-investor in its network, or a direct approach to the team via the firm's website. Come with recurring revenue in its stated range, a clear enterprise or logistics wedge, and evidence that the business is capital-efficient rather than burn-driven.

Why it matters for founders

Arsenal Growth Equity is a strong fit if you already have several million dollars of recurring revenue and need a first institutional partner that understands enterprise and government-adjacent sales. If you are pre-revenue or still searching for product-market fit, this is not your investor yet; come back once the revenue line matches its stated bar.