38sth

38sth is a growth-focused private equity investor specializing in B2B Services in Australia and New Zealand. Our team brings decades of global experience with one focused approach: first principles investing accelerated with modern capabilities. We combine what’s always worked with what’s possible now. Senior partners who do the work. Concentrated, high conviction portfolios where every business gets our full attention. Technology-enhanced capabilities embedded from day one. We’re selective because genuine partnership needs the right fit. We back businesses at moments where capability, clarity and capital unlock meaningful growth. Then we stay involved, moving quickly, thinking independently and following through completely. We invest in Australian and New Zealand companies with $40m+ equity cheques with capacity for follow-on support. We look for businesses with strong market positions in defensible niches, clear pathways for organic and strategic growth, driven forward by leadership teams with a high ownership quotient. We lean into situations where our experience and international perspective create genuine impact: operational improvements may come from digital transformation, improved employee value propositions, strategic clarity, M&A, improved go to market strategies, overseas expansion or all of the above. We deliberately focus on B2B Service verticals. We like large markets, resilient fundamentals, pricing power and the ability to differentiate on customer service.