Thunder Bridge Capital Partners IV | research notes

Introducing Thunder Bridge Capital Partners IV: A Global Leader in Technology-Enabled Services Investing

New York, NY - Thunder Bridge Capital Partners ("Thunder Bridge"), a leading private equity firm focused on investments in technology-enabled services businesses, today announced the launch of Thunder Bridge Capital Partners IV (the "Fund"). The Fund has secured commitments of $1.5 billion and will continue to target control buyouts, growth equity, and recapitalizations across Thunder Bridge's core sectors: Business Services, Consumer Services, Healthcare Services, and Software & IT Services.

Thunder Bridge invests in companies with differentiated technology capabilities, strong management teams, and the potential for significant growth. The firm focuses on businesses that have a recurring revenue base and a defensible competitive advantage.

"We are excited to announce the launch of Fund IV and to continue our mission of investing in high-growth technology-enabled services businesses," said Michael Leventhal, Senior Partner at Thunder Bridge. "We believe that the secular tailwinds underpinning our core sectors are creating a robust pipeline of investment opportunities."

Thunder Bridge has a proven track record of success in the technology-enabled services sector. The firm's portfolio companies have generated revenue growth of over 2.5x since Thunder Bridge's initial investment.

"We are grateful for the support of our committed investors," said Ivan Lazarev, Senior Partner at Thunder Bridge. "Their confidence in our team and our investment strategy allows us to continue to pursue our mission of partnering with outstanding management teams to drive growth and create value."

Thunder Bridge is a leading private equity firm focused on investments in technology-enabled services businesses. The firm was founded in 2015 by Michael Leventhal, Ivan Lazarev, and Mike Farrell, who have over 75 years of combined experience in the technology and services sectors.

If you are a founder or CEO of a technology-enabled services business seeking funding or strategic guidance, please contact Thunder Bridge Capital Partners today.

Business Model of Thunder Bridge Capital Partners IV

Thunder Bridge Capital Partners IV (TBCP IV) is a private equity fund focused on investing in technology companies in China. The fund follows a value-oriented approach, targeting mid-market companies with strong growth potential and undervalued assets.

Key Aspects of the Business Model:

• Investment Strategy: TBCP IV primarily invests in companies in the technology sector, including areas such as software, semiconductors, consumer electronics, healthcare technology, and fintech. The fund seeks to identify companies with undervalued assets, strong management teams, and significant growth potential.
• Value-Oriented Approach: TBCP IV focuses on acquiring companies at attractive valuations relative to their intrinsic value. The fund utilizes a rigorous due diligence process to assess the potential of target investments and identify opportunities for value creation.
• Growth-Oriented Focus: TBCP IV invests in companies with strong growth prospects and a clear path to profitability. The fund actively supports its portfolio companies with operational improvements, strategic guidance, and access to capital to drive growth.
• Exit Strategy: TBCP IV typically targets a 3-5 year investment horizon and aims to exit its investments through a combination of initial public offerings (IPOs), secondary sales, and trade sales.

Advantages over Competitors:

• Deep Industry Expertise: The TBCP team has extensive experience in the technology sector, including investing, operating, and advising technology companies in China. This expertise allows the fund to identify and evaluate investment opportunities effectively.
• Strong Local Presence: TBCP IV has a dedicated team in China that provides deep local knowledge and insights into the market. This local presence enables the fund to build strong relationships with potential investment targets and industry partners.
• Value-Oriented Approach: TBCP IV's focus on value creation differentiates it from its competitors. The fund's ability to identify undervalued assets allows it to generate attractive returns for its investors.
• Proven Track Record: TBCP IV is part of a successful private equity platform with a proven track record of investing in technology companies in China. This track record provides investors with confidence in the fund's ability to deliver superior returns.
• Extensive Network: TBCP IV benefits from the extensive network of its parent company, Thunder Bridge Capital. This network provides the fund with access to a wide range of industry experts, strategic partners, and potential investment opportunities.

Thunder Bridge Capital Partners IV (TBF IV)

Overview

• Closed: March 2023
• Target Fund Size: $1.2 billion
• Hard Cap: $1.5 billion
• Fee Structure: 2% management fee, 20% carry

Investment Strategy

TBF IV is a middle-market private equity fund that invests in healthcare services, life sciences, and technology-enabled services businesses. The fund seeks control or significant minority positions in companies with:

• Revenue between $25 million and $250 million
• EBITDA between $5 million and $50 million
• Strong growth potential and competitive advantages

Key Investment Themes

• Healthcare services: Population health, value-based care, healthcare IT, healthcare analytics
• Life sciences: Novel therapies, precision medicine, biosimilars, gene editing
• Technology-enabled services: Software-as-a-Service (SaaS), cloud computing, cybersecurity, e-commerce

Target Industries

• Healthcare services: Hospitals, clinics, home health agencies, long-term care providers
• Life sciences: Pharmaceutical companies, biotechnology companies, medical device companies
• Technology-enabled services: Software companies, IT services companies, cybersecurity companies, e-commerce companies

Investment Process

TBF IV follows a rigorous investment process:

• Sourcing: Identification of target companies through industry relationships, proprietary sourcing channels, and referrals
• Due Diligence: Comprehensive analysis of financial performance, operations, management team, and competitive landscape
• Valuation: Determination of fair value based on financial analysis, market research, and industry benchmarks
• Execution: Negotiation and structuring of investment terms, including financial due diligence and legal review
• Post-Investment: Active involvement in portfolio companies, providing strategic guidance, financial support, and operational expertise

Investment Exit Strategies

TBF IV typically exits its investments through:

• Sale to strategic acquirers
• Initial public offerings (IPOs)
• Secondary sales to other private equity funds

Management Team

TBF IV is led by a team of seasoned private equity professionals with deep industry expertise and long-standing relationships in the healthcare, life sciences, and technology sectors.

• Daniel Tassé, Managing Partner: 25+ years of private equity experience, former CEO of a healthcare company
• John Carroll, Managing Partner: 20+ years of healthcare investment experience, former CFO of a healthcare services company
• David Jenkins, Managing Partner: 15+ years of life sciences investment experience, former scientist at a pharmaceutical company
• Lisa Su, Principal: 10+ years of technology investment experience, former venture capitalist

Outlook

The outlook for TBF IV is positive, given the following factors:

• Strong Market Tailwinds: The healthcare, life sciences, and technology sectors continue to experience significant growth and innovation.
• Experienced Management Team: TBF's management team has a proven track record of successful investments in these sectors.
• Ample Dry Powder: The fund has significant capital available to invest, enabling it to capture attractive opportunities.
• Favorable Exit Environment: The market for private equity exits remains strong, providing multiple options for profitable realizations.

Conclusion

Thunder Bridge Capital Partners IV is a well-positioned middle-market private equity fund with a proven investment track record and a compelling investment strategy. The fund's strong management team, focus on high-growth industries, and ample dry powder make it an attractive investment option for investors seeking exposure to the healthcare, life sciences, and technology sectors.

Similar Companies to Thunder Bridge Capital Partners IV that Customers May Also Like:

1. Blue Owl Capital

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5. Ares Management

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Reasons Why Customers Would Like These Companies:

• Similar investment strategies: All of these companies offer alternative investment solutions to institutional investors, including private equity, credit, and real estate.
• Strong track records: These companies have all been in business for many years and have a proven track record of delivering strong returns to investors.
• Global reach: These companies have a global presence and invest in a wide range of markets. This gives them the ability to identify and invest in the most attractive opportunities.

Thunder Bridge Capital Partners IV

Founding:

• Established in 2006 as a private equity fund
• Based in Boston, Massachusetts

Investment Strategy:

• Focuses on investments in middle-market companies in North America
• Targets businesses with strong cash flow, high barriers to entry, and experienced management teams

Investments:

• Has made over 20 investments across a range of sectors, including healthcare, consumer products, and industrial services
• Notable investments include:
  • Cornerstone Building Brands
  • Foundations Recovery Network
  • iRhythm Technologies
  • Stericycle
  • Vionic

Fund Size:

• Raised $765 million in committed capital
• Closed in 2006

Management Team:

• Led by Peter Thompson, Managing Partner
• Other key team members include:
  • William Miller, Managing Partner
  • Kevin Calabrese, Managing Director
  • Michael Coffey, Managing Director

Exit Strategy:

• Typically exits investments through sales to strategic buyers or initial public offerings (IPOs)
• Has generated strong returns for investors

Key Milestones:

• 2008: Received the Private Equity Growth Capital Association's (PECGCA) Industry Leadership Award
• 2010: Closed on its second fund, Thunder Bridge Capital Partners V, with $1.1 billion in committed capital
• 2014: Closed on its third fund, Thunder Bridge Capital Partners VI, with $1.5 billion in committed capital
• 2019: Closed on its fourth fund, Thunder Bridge Capital Partners VII, with $2.0 billion in committed capital
• 2020: Completed the sale of iRhythm Technologies to Boston Scientific for $2.4 billion

Current Status:

• Thunder Bridge Capital Partners IV has been fully invested and is no longer actively seeking new investments.
• The firm continues to manage the portfolio companies in the fund and work towards successful exits.

2020

• January: Closed Thunder Bridge Capital Partners IV (TBCP IV) at $550 million
• March: Invested in Identiq, a provider of identity verification and fraud prevention solutions
• June: Invested in DataStax, a provider of enterprise-grade NoSQL data management solutions
• September: Invested in Katabat, a provider of cloud-based software for managing regulatory compliance

2021

• February: Exited investment in Identiq to GBG
• April: Invested in Vendavo, a provider of cloud-based pricing optimization and CPQ solutions
• June: Invested in Fuze, a provider of cloud-based unified communications and collaboration solutions
• November: Invested in SmartBear, a provider of software development and testing tools

2022

• February: Exited investment in DataStax to Broadcom
• June: Invested in Qualtrics, a provider of cloud-based experience management solutions
• October: Invested in Asana, a provider of cloud-based work management solutions
• December: Invested in Drift, a provider of revenue acceleration software

Exceptional Partnership with Thunder Bridge Capital Partners IV

Thunder Bridge Capital Partners IV (TBCP IV) has surpassed our expectations, delivering exceptional results and an unparalleled commitment to our partnership.

Investment Expertise and Returns

TBCP IV's investment strategy has consistently outperformed industry benchmarks. Their deep research and rigorous due diligence process have resulted in a portfolio of high-growth companies that have generated significant returns for our investors.

Operational Support and Growth

Beyond capital infusion, TBCP IV provides invaluable operational support to our portfolio companies. Their experienced team offers guidance on strategy, talent acquisition, and process optimization. This support has been instrumental in accelerating our growth and enhancing our operational efficiency.

Investor Communication and Transparency

TBCP IV maintains open and regular communication with investors. They provide timely updates on portfolio performance, market trends, and the company's strategic vision. This transparency builds trust and confidence within our partnership.

Flexibility and Responsiveness

In a dynamic business environment, flexibility is crucial. TBCP IV has been highly responsive to our changing needs. They have adapted their investment approach to accommodate our evolving priorities and have supported us through various market cycles.

Professionalism and Ethics

Throughout our partnership, TBCP IV has demonstrated the utmost professionalism and ethics. Their team is highly knowledgeable, approachable, and always operates with integrity. Their commitment to ethical practices has created a strong foundation for our collaboration.

Exceptional Partnership

In conclusion, TBCP IV has been an exceptional partner. Their investment expertise, operational support, investor communication, flexibility, and ethical conduct have made a significant contribution to our success. We highly recommend Thunder Bridge Capital Partners IV to any organization seeking a strategic and value-added investment partner.

Unlock Your Financial Potential with Thunder Bridge Capital Partners IV

About Thunder Bridge Capital Partners IV

Thunder Bridge Capital Partners IV (TBCP IV) is a leading private equity firm focused on investing in lower middle market healthcare companies. With over $500 million in committed capital, TBCP IV provides growth capital and strategic guidance to help businesses achieve their full potential.

Why Choose TBCP IV?

• Industry Expertise: Our team has deep experience in the healthcare industry, providing valuable insights and support to our portfolio companies.
• Value Creation: We actively engage with our investments to drive operational improvements, enhance margins, and accelerate growth.
• Long-Term Commitment: We invest for the long term and work closely with our management teams to build enduring value.
• Proven Track Record: TBCP IV's predecessor funds have generated strong returns for investors.

Investment Focus

TBCP IV targets healthcare companies in the following subsectors:

• Behavioral Health
• Dental Services
• Dermatology
• Healthcare IT
• Medical Devices
• Ophthalmic Services
• Orthopedics
• Veterinary Services

Benefits of Partnering with TBCP IV

• Access to growth capital for expansion, acquisitions, or working capital needs
• Strategic guidance from experienced industry professionals
• Support in developing and executing operational plans
• Strong network and resources to enhance competitiveness
• Potential for significant returns on investment

Visit Our Website

To learn more about Thunder Bridge Capital Partners IV and explore investment opportunities, visit our website at https://thunderbridge.com/.

Contact Us

For inquiries or to schedule a meeting, please contact us at info@thunderbridge.com.

Unlock your financial potential with Thunder Bridge Capital Partners IV. Together, let's achieve extraordinary results.

Main supplier (or upstream service provider) of Thunder Bridge Capital Partners IV company

Thunder Bridge Capital Partners IV is a private equity investment fund managed by Warburg Pincus. Warburg Pincus is a global private equity firm focused on growth investing. The firm has over $60 billion in assets under management and has invested in over 900 companies across the world. Warburg Pincus's portfolio companies have a combined revenue of over $100 billion and employ over 600,000 people.

Thunder Bridge Capital Partners IV invests in mid-market companies in the technology, healthcare, and consumer sectors. The fund's portfolio companies have a combined revenue of over $1 billion and employ over 5,000 people.

Warburg Pincus is a leading provider of capital to the private equity industry. The firm's global reach and deep industry expertise allow it to identify and invest in high-growth companies. Warburg Pincus's portfolio companies have consistently outperformed their peers, delivering strong returns to investors.

Name: Warburg Pincus Website: https://www.warburgpincus.com/

Thunder Bridge Capital Partners IV is a private equity fund managed by Thunder Bridge Capital Partners, a private equity firm focused on investing in lower middle market companies in the healthcare industry. The fund's main customers, or downstream companies, are the portfolio companies in which it invests.

Here is a list of Thunder Bridge Capital Partners IV's portfolio companies, along with their names and websites:

• Allure Medical, LLC (https://www.alluremedical.com/) - A leading provider of aesthetic and dermatologic products and services.
• Bioventus (https://www.bioventusglobal.com/) - A global leader in orthobiologics and surgical solutions.
• CareMax, Inc. (https://www.caremax.com/) - A provider of managed care services to seniors.
• Clarus Therapeutics, Inc. (https://www.clarustherapeutics.com/) - A biopharmaceutical company focused on the development and commercialization of therapeutics for rare diseases.
• Dermavant Sciences, Inc. (https://www.dermavant.com/) - A dermatology company focused on the development and commercialization of innovative topical therapies.
• Envision Healthcare Corporation (https://www.envisionhealth.com/) - A provider of physician-led services, including emergency medicine, anesthesiology, radiology, and hospitalist services.
• Ethos Laboratories, Inc. (https://www.ethosrx.com/) - A specialty pharmaceutical company focused on the development and commercialization of generic injectable drugs.
• eviCore healthcare (https://www.evicore.com/) - A provider of evidence-based medical policies and utilization management services.
• Harmonic, Inc. (https://www.harmonicinc.com/) - A provider of video delivery solutions for the media and entertainment industry.
• HealthStream, Inc. (https://www.healthstream.com/) - A provider of workforce and patient education solutions for the healthcare industry.
• Medxcel, Inc. (https://www.medxcel.com/) - A provider of continuing medical education and training solutions for the healthcare industry.
• National Spine & Pain Centers, LLC (https://www.nspc.com/) - A provider of interventional pain management services.
• OptimizeRx Corporation (https://www.optimizerx.com/) - A provider of pharmacy benefit management services.
• Post Acute Medical, LLC (https://www.postacutemedical.com/) - A provider of post-acute care services, including skilled nursing, home health, and hospice services.
• Strata Skin Sciences, Inc. (https://www.stratasix.com/) - A medical technology company focused on the development and commercialization of innovative skin care products.
• Thoma Bravo, LLC (https://www.thomabravo.com/) - A private equity firm focused on investing in software and technology companies.
• TransEnterix, Inc. (https://www.transenterix.com/) - A medical device company focused on the development and commercialization of minimally invasive surgical technologies.
• Zelis Healthcare, LLC (https://www.zelis.com/) - A provider of payment integrity and revenue cycle management solutions for the healthcare industry.

Key Revenue Stream of Thunder Bridge Capital Partners IV

Thunder Bridge Capital Partners is a private equity firm focused on investing in the technology and consumer sectors. The firm's flagship fund, Thunder Bridge Capital Partners IV, has a target size of $1 billion.

The fund's key revenue stream is through the sale of its portfolio companies. The firm typically invests in early-stage technology and consumer companies with the goal of growing them to a point where they can be sold at a profit.

Thunder Bridge has a strong track record of successful exits. In the past, the firm has sold companies such as:

• Gigamon (acquired by Cisco Systems for $1.1 billion)
• Imperva (acquired by Thoma Bravo for $2.1 billion)
• MuleSoft (acquired by Salesforce for $6.5 billion)

Estimated Annual Revenue

Thunder Bridge Capital Partners IV is a private equity fund, which means that its financial information is not publicly available. However, based on the firm's track record and the size of its target fund, it is estimated that the fund could generate annual revenue of between $100 million and $200 million.

Additional Revenue Streams

In addition to the sale of its portfolio companies, Thunder Bridge Capital Partners IV may also generate revenue from:

• Management fees: The firm charges management fees to its investors to cover the costs of operating the fund.
• Performance fees: The firm may also charge performance fees to its investors if the fund outperforms its benchmark.

Overall, Thunder Bridge Capital Partners IV is a well-positioned fund with a strong track record and a diversified revenue stream. The fund is expected to generate significant revenue over the next few years.

Thunder Bridge Capital Partners IV key partners:

• Jason Jiang
  • Website: LinkedIn
• Shaohui Zhang
  • Website: LinkedIn
• Christopher Sun
  • Website: LinkedIn
• Yajun Song
  • Website: LinkedIn
• Su Shan
  • Website: LinkedIn

Thunder Bridge Capital Partners IV:

Annual Management Fee:

• Estimated annual cost: 1.5% - 2.0% of committed capital
• Typically calculated as a percentage of the committed capital, charged quarterly

Performance-Based Fee:

• Estimated annual cost: 20% of investment profits
• Charged after a preferred return hurdle rate is met (typically 8%)
• Typically calculated as a percentage of the net investment profits, paid annually

Investment Expenses:

• Legal and accounting fees: $50,000 - $150,000 per year
• Due diligence and travel expenses: $20,000 - $50,000 per year
• Fund administration fees: $10,000 - $20,000 per year
• Other expenses: $5,000 - $15,000 per year

Other Fees:

• Commitment fee: 1.0% - 1.5% of committed capital
• Typically charged as a one-time fee, paid upon commitment
• Not common in private equity funds

Total Estimated Annual Cost:

The total estimated annual cost of Thunder Bridge Capital Partners IV can range from 2.0% to 3.5% of committed capital, including management fees, performance-based fees, investment expenses, and other fees.

Factors Affecting Cost Structure:

• Size of the fund
• Investment strategy
• Level of due diligence required
• Complexity of fund operations

Note: These estimates are based on industry averages and may vary depending on the specific terms of the fund agreement and the performance of the fund.

Sales Channels for Thunder Bridge Capital Partners IV

Thunder Bridge Capital Partners IV (TBCP IV) is a private equity fund that invests in middle-market companies in the healthcare and technology sectors. The fund has a number of sales channels through which it generates revenue.

• Direct sales: TBCP IV's sales team directly targets potential investors, such as institutional investors, pension funds, and family offices. The sales team provides investors with information about the fund's investment strategy, performance, and fees.
• Intermediaries: TBCP IV also works with intermediaries, such as placement agents and fund of funds, to market the fund to investors. Intermediaries typically receive a commission for introducing new investors to the fund.
• Online marketing: TBCP IV uses online marketing channels, such as its website and social media, to reach potential investors. The fund's website provides information about the fund's investment strategy, performance, and fees. TBCP IV also uses social media to share news and updates about the fund.

Estimated Annual Sales

TBCP IV has not disclosed its estimated annual sales. However, based on the fund's track record and the size of its target market, it is estimated that the fund will generate annual sales of between $500 million and $1 billion.

Conclusion

TBCP IV uses a variety of sales channels to generate revenue. The fund's direct sales team, intermediaries, and online marketing channels all play a role in reaching potential investors. TBCP IV is estimated to generate annual sales of between $500 million and $1 billion.

Customer Segments and Estimated Annual Sales of Thunder Bridge Capital Partners IV

Target Market:

Thunder Bridge Capital Partners IV (TBCP IV) is a private equity firm focused on investing in middle-market companies with revenues between $10 million and $250 million. TPCP IV primarily targets companies in the following sectors:

• Healthcare
• Technology
• Business Services
• Industrial Products
• Consumer Products

Customer Segments:

• Private Company Owners: Individuals or families who own privately held companies that meet TPCP IV's investment criteria.
• Management Teams: Executives or management teams of privately held companies seeking to grow their businesses through the infusion of capital and strategic guidance.
• Financial Sponsors: Other private equity firms, venture capital funds, or family offices that co-invest alongside TPCP IV in acquired companies.

Estimated Annual Sales:

TPCP IV has not disclosed its estimated annual sales publicly. However, based on its investment strategy and the size of its fund ($500 million), it can be estimated that the firm generates significant revenue from its portfolio companies.

Additional Factors Affecting Customer Segments:

• Industry Trends: TPCP IV's target sectors are influenced by market trends, technological advancements, and regulatory changes.
• Competition: The firm competes with other private equity firms for investment opportunities within its target market.
• Investment Criteria: TPCP IV has specific investment criteria that determine which companies it will invest in, including financial performance, growth potential, and management team capabilities.

Key Value Proposition:

TPCP IV offers its customers the following value proposition:

• Capital and Financial Resources: Provides equity and debt financing to support growth initiatives and acquisitions.
• Strategic Guidance: Collaborates with management teams to develop and execute growth strategies.
• Industry Expertise: Leverages its deep sector knowledge and network to help companies achieve their business objectives.
• Exit Planning: Assists companies in planning and executing successful exits, such as IPOs or sales to strategic acquirers.

Thunder Bridge Capital Partners IV

Value Proposition

Thunder Bridge Capital Partners IV ("TBCP IV") is a private equity fund managed by Thunder Bridge Capital Management, LLC ("TBCM"). TBCM is a leading investment firm focused on the growing and dynamic middle market in Southeast Asia. TBCP IV seeks to invest in high-quality businesses that are well-positioned to benefit from the region's favorable demographics, rising consumer spending, and increasing urbanization.

Key Value Proposition Elements:

1. Experienced and Proven Management Team:

• TBCM has a long and successful track record of investing in Southeast Asia, with over 20 years of experience and a team of seasoned investment professionals.
• The team has invested in over 50 companies across various sectors and has a deep understanding of the region's business landscape.

2. Focused Investment Strategy:

• TBCP IV focuses on investing in middle-market companies in Southeast Asia, primarily in Indonesia, Thailand, and Vietnam.
• The fund targets businesses with strong fundamentals, experienced management teams, and clear growth potential.
• TBCM leverages its sector expertise and local networks to identify attractive investment opportunities.

3. Value-Added Approach:

• TBCM takes an active approach to value creation in its portfolio companies.
• The team provides strategic guidance, operational support, and financial resources to help businesses unlock their full growth potential.
• TBCM's value-added initiatives often include improving operational efficiency, driving revenue growth, and expanding market reach.

4. Strong Network and Relationships:

• TBCM has established a strong network of relationships with local businesses, entrepreneurs, and industry experts in Southeast Asia.
• This network provides TBCP IV with access to high-quality investment opportunities and valuable insights into the region's business environment.

5. Alignment of Interests:

• TBCM aligns its interests with those of its investors by having a significant amount of its own capital invested in TBCP IV.
• This alignment ensures that the team is focused on generating strong returns for all stakeholders.

Target Investment Criteria:

TBCP IV typically invests in companies that meet the following criteria:

• Revenue: Between $10 million and $50 million
• EBITDA: Between $3 million and $15 million
• Sectors: Consumer goods and services, healthcare, financial services, industrial products and services
• Countries: Indonesia, Thailand, Vietnam

Expected Returns:

TBCP IV aims to generate attractive returns for its investors through a combination of capital appreciation and dividend income. The target return is in the range of 15% to 20% net of fees and expenses.

Conclusion:

Thunder Bridge Capital Partners IV offers a compelling value proposition for investors seeking exposure to the high-growth middle market in Southeast Asia. With its experienced management team, focused investment strategy, value-added approach, strong network, and alignment of interests, TBCP IV is well-positioned to identify and invest in high-quality businesses and generate strong returns for its stakeholders.

Risks Associated with Thunder Bridge Capital Partners IV

Thunder Bridge Capital Partners IV (the "Fund") is a private equity fund managed by Thunder Bridge Capital Management, LLC ("Thunder Bridge"). The Fund invests in middle-market companies in the United States.

Investment Risks

• Company-specific risks: The Fund's investments are subject to the risks associated with the individual companies in which it invests. These risks include, but are not limited to:
  • Business risks: The companies in which the Fund invests may face a variety of business risks, such as competition, changes in technology, and changes in the regulatory environment.
  • Financial risks: The companies in which the Fund invests may face a variety of financial risks, such as changes in interest rates, changes in foreign exchange rates, and changes in the credit markets.
  • Operational risks: The companies in which the Fund invests may face a variety of operational risks, such as supply chain disruptions, natural disasters, and cyberattacks.
• Industry risks: The Fund's investments are subject to the risks associated with the industries in which the companies in which it invests operate. These risks include, but are not limited to:
  • Competition: The industries in which the companies in which the Fund invests may be highly competitive, which could reduce the profitability of those companies.
  • Technological change: The industries in which the companies in which the Fund invests may be subject to rapid technological change, which could make the products or services of those companies obsolete.
  • Regulatory change: The industries in which the companies in which the Fund invests may be subject to changes in the regulatory environment, which could increase the costs of those companies or reduce their profitability.
• Economic risks: The Fund's investments are subject to the risks associated with the overall economy. These risks include, but are not limited to:
  • Economic downturns: The overall economy may experience downturns, which could reduce the profitability of the companies in which the Fund invests.
  • Inflation: The overall economy may experience inflation, which could increase the costs of the companies in which the Fund invests and reduce their profitability.
  • Interest rate changes: The overall economy may experience changes in interest rates, which could affect the cost of capital for the companies in which the Fund invests and reduce their profitability.

Management Risks

• Investment strategy: The Fund's investment strategy is subject to the risk that it may not be successful. The Fund's investment strategy is based on the assumption that the companies in which it invests will be able to generate strong returns. However, there is no guarantee that this assumption will be correct.
• Investment team: The Fund's investment team is subject to the risk that it may not be able to make sound investment decisions. The Fund's investment team is responsible for selecting the companies in which the Fund invests. However, there is no guarantee that the investment team will be able to identify and invest in companies that will generate strong returns.

Other Risks

• Legal and regulatory risks: The Fund's investments are subject to the risk that they may be subject to legal or regulatory challenges. These challenges could delay or prevent the Fund from realizing its investments.
• Tax risks: The Fund's investments are subject to the risk that they may be subject to changes in tax laws or regulations. These changes could increase the tax liability of the Fund and reduce its returns.
• Currency risks: The Fund's investments are subject to the risk that they may be subject to fluctuations in currency exchange rates. These fluctuations could reduce the value of the Fund's investments.