New York

Smart capital,
accelerated growth.

We invest in established services businesses and orchestrate AI into the workflows that run them — to compress cycles, surface insight, and unlock the next leg of growth.

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/ 02 — Our approach

Holistic investment discipline,
paired with operational strategies to enhance value.

We combine the rigor of holistic investing — unique sourcing, deep diligence, and underwriting discipline — with hands-on operational strategies built alongside the management teams we partner with. AI-enabled workflow orchestration is one of several tools we bring; it complements, but doesn't replace, the fundamentals of long-term partnership.

01

Sourcing

Uniquely sourced opportunities to partner with seasoned management teams in industries we know well.

02

Diligence

A disciplined, deliberate process. Deep diligence on people, unit economics, customer concentration, and competitive position — the work that protects capital.

03

Value creation

Clear, low-cost organic growth strategies, executed through deep operator relationships. Operational enhancement comes from better systems, hiring, pricing, and — where it fits — AI-enabled workflows.

04

Compounding

Favorable competitive dynamics, secular tailwinds, and an attractive M&A landscape that lets each platform compound over a long hold.

/ 03 — Where we invest

Sectors we know deeply — chosen for the traits that compound.

We invest where we have deep operating expertise and where the underlying business model has the traits we look for: clear, low-cost organic growth, favorable competitive dynamics, positive secular trends, and an attractive M&A landscape. AI orchestration is one of several tools we bring to bear — and where it fits, the impact is real.

Healthcare Services

Payor and provider operations where regulated complexity, document volume, and care coordination meet a long runway of secular demand.

Traits we look for

+Recurring, contracted revenue
+Fragmented & consolidating
+Document- and decision-heavy workflows

Where AI lifts the curve

AI orchestration: claims intelligence, prior-auth automation, care-pathway routing — measurable cycle-time and margin improvement.

Focus areas

Payor operations & TPA / MGU
Care management & utilization
Revenue cycle & coding

Business & Insurance Services

Specialty distribution, brokerage, and back-office services with sticky customer relationships and compounding M&A landscapes.

Traits we look for

+Asset-light, high free-cash-flow
+Favorable competitive dynamics
+Roll-up potential with operating leverage

Where AI lifts the curve

AI orchestration: policy and contract intelligence, submission triage, renewal forecasting — collapsing manual review without losing nuance.

Focus areas

Brokerage & MGA platforms
Claims & policy operations
Document & contract intelligence

Consumer Services

Multi-location and tech-enabled consumer brands with proven unit economics and clear, low-cost organic growth strategies.

Traits we look for

+Repeat purchase, predictable demand
+Positive secular tailwinds
+Operational leverage as units scale

Where AI lifts the curve

AI orchestration: demand forecasting, commerce orchestration, customer-data unification — sharper merchandising and tighter inventory.

Focus areas

Multi-unit & franchise platforms
Tech-enabled commerce
Consumer brand portfolios

/ 04 — Team

Investors and operators, together.

Jay Caloras

Managing Partner, Carroll Street

Jay has over 20 years experience in private equity and alternative investment management. He has led transactions in media, consumer, industrial, telecom, and other sectors, led operational technology transformations, and served on several boards. Previously a senior investment professional at MHR Fund Management, and prior to that at Bain Capital, BCG, and Orbimed. AB in Economics, cum laude, Harvard College; ML studies via DeepLearning.AI / Stanford. Currently on the boards of CGS Health Group and Delta Bravo AI.

Operating Partners

Michael Pastor

CEO, CGS Health Group

Co-Founder and CEO of CGS Health Group, a leading hybrid TPA & MGU in self-insured employer healthcare. Previously President of Net2Phone, taken public with Liberty Media and acquired by IDT.

Neil Breslau

Founder & CEO, First2Print

Facilitates deal sourcing and business development for Carroll Street. Founder/CEO of First2Print, a digital design company serving Fortune 500 brands. Co-founder of Design Works and CustomDesign Communications.

Lauralynn Drury

COO, StayTuned

Leads StayTuned operations, focused on Shopify-centered digital businesses and tech-enabled growth. Helped launch Faherty and Blueland on Shopify. Previously on the technology team at Warby Parker and JP Morgan payments strategy. UPenn.

Cutler Cook

Founder, Clay Point Investors

Founder of Clay Point Investors and special advisor at Carroll Street. Specialized in backing pre-institutional fund managers; invested in 30+ startups including two IPOs. AB Harvard, MBA Columbia. CFA, CAIA, CQF.

Dr. Jonathan Vigdorchik

Surgeon, HSS & Health Tech Entrepreneur

Assistant Professor of Orthopedic Surgery at Hospital for Special Surgery. Has worked on three healthcare ventures, two with successful exits. BS Washington University; MD University of Missouri; Chief Resident at Detroit Medical Center.

Rick Oppedisano

CEO, Delta Bravo AI

CEO of Delta Bravo, a leading AI data analytics company. Deep expertise in AI architecture and model utilization for predictive functionality, process automation, and workforce continuity across healthcare, manufacturing, and logistics.