Eric Starr

Eric Starr is a partner at CapX Partners, a Chicago-based specialty finance company founded in 1999 by Jeff Pfeffer and Jim Hallene that provides non-dilutive debt financing — senior and mezzanine debt plus equipment lease lines — to private-equity- and venture-backed portfolio companies, typically in the $2M–$20M range. CapX has raised four funds totaling more than $500 million and managed roughly $400 million in assets. Starr joined the firm alongside partner Barrett Carlson before the entire CapX team was acquired by Accord Financial Corp. (TSX: ACD) in 2017, after which he served as SVP of Operations and Risk (later Program Operations & Risk) at Accord, responsible for business development, strategy, operational efficiency, and digital transformation.

Before CapX, Starr built his career in quantitative finance. He founded and ran Starr Capital Management, a quant-driven hedge fund focused on Japan's capital markets, which was acquired by Forest Investment Management in 2005; he has also been associated with Aventine Investment Management and Forest Investment Management. He describes himself as an entrepreneur of roughly 30 years living "at the nexus of data, technology and humanity."

At CapX, Starr was a public voice on underwriting innovation, notably commenting on the firm's adoption of Moody's Analytics RiskCalc Small Business solution, which he said made smaller-ticket loans feasible for the firm — reflecting his focus on using analytics and technology to strengthen risk assessment.

Starr earned an Executive MBA from NYU Stern School of Business (Class of 1992) and attended Brandeis University. In 2020 he founded Ultrapass Identity Corp, a Web3/digital-identity company where he is Founder and CEO. He has two children, Noah and Leah, and lists interests in travel and fantasy/sci-fi literature.

• Provides non-dilutive debt capital — senior debt, mezzanine, and equipment lease lines — rather than seed/angel equity; the value proposition is growth capital that doesn't dilute founders and existing equity holders.
• Targets PE- and venture-backed companies with revenue-producing fixed assets, favoring manufacturing, distribution, technology, energy, and healthcare.
• Typical check size $2M–$20M, with participation in larger syndicated venture-debt facilities (e.g., a $20M loan to Aquion Energy alongside Trinity Capital).
• Emphasis on rigorous, analytics-driven underwriting — Starr championed integrating Moody's Analytics RiskCalc to make smaller-ticket loans viable, consistent with his quant-finance background.
• Personal ethos: *"Anyone can become an expert on anything. Bite off more than you can chew and chew it. Develop the left and right side of your brain both creatively and analytically."*