Permanent Capital  ·  United States & Australia

A permanent home for the software the market has stranded.

Your business has real customers and reliable cash. It has no growth narrative and no buyer. We acquire it, take control, and run it for cash. Indefinitely.

Start a conversation See how it works ↓
Permanent

Hold period. We do not flip.

0%

Interest on the structured note.

50%

Of free cash flow paid to you.

The position

Profitable.
And unsellable.

You built something real. Customers depend on it. The cash arrives every month. The market has simply stopped pricing it. That is the gap we exist to close.

01

No growth path

Revenue is durable but flat. The growth story is over. Private equity needs a multiple it cannot find here.

02

No buyer

Strategics buy growth. Sponsors buy leverage. A stable, mature cash business fits neither mandate, so the phone never rings.

03

No price

Equity without an exit clears at nothing. The capital your investors put in is trapped, and so are you.

The offer

Liquidity where there was none. Income for as long as it runs.

Certainty and speed

  • → We close in weeks, not quarters. No financing contingency, no diligence roulette.
  • → Your equity converts to a structured credit note. Liquidity where the market offered none.
  • → One counterparty, one decision, one clean exit from a position you could not otherwise leave.

Income the business funds

  • → Noteholders receive 50% of free cash flow, paid when dividends are declared.
  • → Zero interest, non-callable, subordinated. Predictable, not punitive.
  • → The cash the business already generates funds your return. Nothing rides on a sale that will not come.

The instrument

InstrumentSubordinated credit note
Interest0%
CallableNo
Source of repaymentFree cash flow
Your share50% of FCF, on dividends
TermPermanent

How it works

Three steps. Weeks, not quarters.

01

You decide

You are ready to step back. We assess the business and return a price and a timeline. Certainty, not conditions.

02

We convert

Your equity becomes a subordinated credit note. Zero interest, non-callable, repaid from free cash flow.

03

We hold

We take control and operate with discipline, protecting the product, the customers, and the people who run it. Permanently.

Stewardship

We protect what creates value.

Discipline, not disruption. The business your customers rely on keeps running, on a footing built to last decades rather than quarters.

We protect

  • The profitable product
  • The customers who depend on it
  • The people who keep it running
  • The cash it generates

We retire

  • Overhead the product does not need
  • Spend that does not earn
  • The chase for growth that is not coming
  • The cost of pretending otherwise

The firm

Operators, not tourists.

Operations

Experienced builders

We have built and scaled businesses with hundreds of staff and exited them to private equity, domestic and international. We separate what is real in a business from what is noise, and we know what it takes to keep the cash coming.

Legal and structure

Cross-border counsel

We own the legal architecture end to end. The note structure, the tax treatment, and the insolvency mechanics across the United States and Australia. The friction that keeps most boards awake is handled before it reaches the table.

Advisory

Structure and origination

We bring retained advisory depth on transaction structure and origination, sourcing the few situations where permanent capital is the right answer and pricing them with discipline.

We review hundreds of businesses a year and acquire only the few where permanent capital is the right answer, and where there is genuinely nowhere else to go.

Enquire

If it generates cash and your customers depend on it, we want the conversation.

We are frequently the only buyer. Often the only one worth taking.

Start a conversation enquiries@nomodo.global