Hilary Fleischer

Hilary Fleischer is a Partner at Strattam Capital, a technology-focused private equity firm founded in 2014 by Bob Morse and Adrian Polak that partners with founder-owned B2B software and tech-enabled companies. She joined the firm at its launch in 2014 — when it had roughly five employees and had not yet made its first investment or raised its first fund — and was promoted to Partner in March 2020. Over that period she has developed and led several platform investments and add-on acquisitions, and today focuses on deal sourcing, new investment activity, and portfolio-company oversight.

Before Strattam, Fleischer worked in private equity as an Associate at Kohlberg Kravis Roberts & Co. (KKR), where she handled due diligence, deal execution, and portfolio oversight, and earlier as an Analyst focused on M&A at Lazard. She has described being drawn to private equity for its blend of analytical rigor and relationship-building — "PE is so much about people, understanding their natures and building relationships."

She earned her B.S. and B.A.S. from the University of Pennsylvania through the Jerome Fisher Program in Management & Technology (the Wharton/Engineering dual-degree "M&T" program), and an M.B.A. from the Stanford University Graduate School of Business. She sits on the Leadership Council of the Jerome Fisher Program at Penn.

Fleischer has been recognized as a winner of M&A Advisor's 11th Annual Emerging Leaders Awards (2020), honoring accomplished professionals under 40, and was named to GrowthCap's Top Women Leaders in Growth Investing of 2025.

• Invests in established, profitable, founder-owned B2B software and tech-enabled companies — not early-stage startups. Strattam's stated criteria: recurring revenue of ~$5–30M, positive EBITDA, strong organic growth, and enterprise values up to ~$150M.
• Pursues majority / control investments as a growth partner, then scales the business, including through add-on acquisitions off a platform company.
• Alignment with founders is central: "alignment is incredibly important to us, which is why we developed our five-point plan" — a process where the firm and founder agree upfront on goals and expectations before closing.
• Looks for strong products with established market positions and founders with deep industry experience — as she put it on the Netstock deal, "a founder with deep industry experience... embodies the type of company in which we invest."
• Emphasizes transparency and "fit" between investor and founder, advising founders to diligence an investor's approach and culture as much as the investor diligences them.