Barry Osherow
Partner
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- Full Name
- Barry A. Osherow
- Title
- Partner, Structured Capital
- Firm
- Level Equity Management LLC
- Firm Type
- Growth-equity / private investment firm (not an angel investor — the stub's "Angel Investors" label is inaccurate)
- Investment Stage
- Growth stage — structured credit and non-control (senior/structured) equity for high-growth, capital-efficient software companies (not seed)
- Check Size
- Fund-level: Level Structured Capital II ($157.5M, 2023) and III ($293.5M, 2025) fund flexible structured investments into growth-stage software businesses (individual check sizes not publicly disclosed)
- Target Company Profile
- Durable, high-growth, capital-efficient B2B software and technology-enabled businesses seeking capital to accelerate growth, fund acquisitions, or provide shareholder liquidity with minimal dilution
- Sector Focus
- Software, information technology, technology-enabled services; broader firm focus includes internet, media, and data businesses
- Geographic Focus
- Primarily U.S. (headquartered in New York)
- Location
- New York, NY (firm); resides in northern Westchester County, NY (Pound Ridge area)
Background
Barry Osherow is a Partner at Level Equity, where he leads the firm's Structured Capital business, providing creative debt and non-control senior equity solutions to growth-oriented software companies. He joined Level Equity in October 2016 and built out the firm's structured investing strategy, which has since grown into a multi-fund franchise (Structured Capital I, II, and III).
Before Level Equity, Osherow spent much of his career in specialty and technology-focused credit. He was most recently a Managing Partner and Investment Committee member at Enhanced Capital Partners, where he helped run a ~$225M SBIC fund (he joined Enhanced around 2008). Earlier, he led the direct-lending practice for technology firms at Technology Investment Capital Corp (NASDAQ: TICC, now Oxford Square Capital), a business development company focused on lending to technology companies. His earlier career also spans investment banking and technology finance, including roles connected to Wit Capital / SoundView Technology Group and the pioneering internet-based public offering work of Spring Street Brewing Company in the mid-1990s, as well as time at Lehman Brothers.
Osherow earned a B.S. with a concentration in International Business from Babson College (Class of 1994). He was born in Miami, Florida, grew up in New Jersey, and now lives in northern Westchester County, New York. He also serves as a board member at WeSpire, an employee-experience and sustainability software company.
Investment Thesis & Focus
- Invests through structured capital — flexible structured credit and structured/senior equity — designed to minimize dilution for founders and existing shareholders
- Targets durable, high-growth, capital-efficient software businesses, typically B2B and in non-cyclical categories
- Capital is used to accelerate growth initiatives, fund acquisitions (M&A), or provide liquidity to existing shareholders — a fit for profitable or near-profitable companies that don't want to sell control or raise dilutive priced equity
- Sits alongside Level Equity's broader platform (growth equity + structured capital, ~$6.5B AUM, 125+ investments), giving portfolio companies access to the firm's in-house value-creation team (NextLevel Operations)
- Stated positioning (firm/team page): provides "creative debt and non-control senior equity solutions to growth-oriented businesses"
Notable Investments
- WeSpire — employee-experience / sustainability and behavior-change software company; Osherow serves as a board member
- Level Structured Capital (fund-level track record) — the strategy he leads has invested in 26+ companies with 16+ liquidity events since 2017; specific deal-by-deal attribution to Osherow is not fully public
- Ninth Wave — financial-data connectivity/software company in the Level Equity portfolio (firm-level investment; individual deal lead not confirmed)
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