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Carlo Santelli

Senior Associate

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At a glance

Full Name
Carlo Santelli
Firm
Stonehenge Capital Company
Firm Type
Impact investor / lower-middle-market private capital provider
Investment Stage
Growth-stage small businesses; lower-middle-market debt and equity
Check Size
$1 million to $15 million target capital need
Target Company Profile
Lower-middle-market operating companies, especially small businesses in underserved or economically distressed communities that need flexible, non-conventional capital
Sector Focus
Manufacturing, distribution, business services, healthcare, consumer goods, technology, construction, energy-related services, hospitality, agriculture
Geographic Focus
United States
Location
Stonehenge Capital has team offices across the United States; I could not verify a public current location for Carlo Santelli.

Background

I could not verify Carlo Santelli’s current title, employment status, LinkedIn profile, headshot, or direct contact information from public web sources. The current Stonehenge Capital team pages reviewed do not list a Carlo Santelli, and web searches for his name, email prefix, and Stonehenge affiliation did not return a reliable public profile.

Stonehenge Capital Company itself was founded in 1999 by former Bank One principals to manage economic-development investment funds. Its Direct Investing practice provides capital through federal and state New Markets Tax Credit programs, state-targeted small-business investment funds, and an SBIC vehicle, the Stonehenge Community Impact Fund, L.P.

The firm describes itself as a nationally recognized impact investor focused on providing “transformational capital” to lower-middle-market operating companies. It manages more than $1.4 billion in investments across distressed U.S. communities, more than $400 million in assets under management through state-targeted small-business investment funds, and raised a $224 million SBIC fund in 2020.

Investment Thesis & Focus

  • Stonehenge Capital specializes in flexible and patient lower-middle-market debt and equity investments.
  • The firm targets capital needs of $1 million to $15 million.
  • Investment structures can include subordinated debt, minority equity, control equity, senior financing, mezzanine financing, uni-tranche financing, or combinations of these.
  • The firm focuses primarily on growth-stage small businesses in underserved areas across the United States.
  • Stonehenge says it aims to fill the financing gap for operating companies that have struggled to access traditional investment capital.
  • The firm is sector-flexible but most frequently serves manufacturing, distribution, business services, and healthcare.
  • Stonehenge’s stated impact lens prioritizes market segments underserved by conventional capital providers and businesses that create quality jobs and local economic impact.

Notable Investments

  • Mountain West Brands, LLC — $14 million investment from Stonehenge Community Impact Fund, L.P. in August 2024 to refinance maturing debt and support growth at Utah-based restaurant brands Chuck-A-Rama, Market Street Grill, and Grub Steak.
  • St. Jude’s Ranch for Children — $2.2 million investment through the 2023 Nevada New Markets Jobs Act to support The Healing Center, a residential health campus for child survivors of sex trafficking in Southern Nevada.
  • Shaquille O’Neal Foundation / Boys & Girls Clubs of Southern Nevada — $2.2 million New Markets Tax Credit investment for the Shaquille O’Neal Youth Complex in Clark County, Nevada.
  • North Carolina Central University — $8.5 million loan for health-disparities initiatives at the historically Black university in Durham, North Carolina.
  • PosiGen, LLC — $7.5 million senior loan to support renewable-energy access for low- and moderate-income households.
  • Cathcart Rail, LLC — $5 million in loans supporting railcar repair and related operations in Ohio.

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